Israel based Syneron Candela is slated to be acquired by funds advised by Apax Partners for approximate $397Mn. The acquisition comes after fund advised by Apax Partners agreed to acquire all of the outstanding shares of Syneron Candela for $11.00 per share in cash.
Barclays is acting financial advisor to Syneron Candela for the deal while Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co. and Morrison & Foerster are serving as legal advisors. J.P. Morgan is serving as financial advisor to Apax Partners and Simpson Thacher & Bartlett and Meitar Liquornik Geva Leshem Tal are serving as legal advisors.
About Syneron Candela
Syneron Candela is a public company that develops and markets esthetic medical products. Its product line includes devices for hair removal, wrinkle treatment, and skin rejuvenation.
Apax Partners is an investment firm specializing in direct and fund of fund investments in middle market. Within direct investments, it specializes in private equity and venture capital investments.
Apax Partners was founded in 1972 and is based in London, United Kingdom with additional offices across the United States, Europe, South America, and Asia.
Source: – Syneron Medical’s Press Release