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Private Equity
sterlingpartners.com

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Investments

101

Portfolio Exits

32

Funds

9

Partners & Customers

9

Service Providers

1

About Sterling Partners

Sterling Partners is a private equity firm with nearly $4 billion of capital under management and typically invests from $5 million to more than $150 million of equity in each portfolio company. Sterling focuses on investing growth capital in middle-market companies in the healthcare services and business services industries. Sterling provides valuable support to the management teams of the companies in which the firm invests through a deep and dedicated team of professionals, including a strong network of outside directors and advisors. The firm operates offices in Chicago, Baltimore, and Miami.

Sterling Partners Headquarter Location

401 N. Michigan Ave. Suite 3300

Chicago, Illinois, 60611,

United States

312-465-7000

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Latest Sterling Partners News

Sun Capital Partners and Sterling Partners Merge West Dermatology and Platinum Dermatology Partners

Jun 21, 2022

Merger Creates Leading Dermatology Practice with Operations Across Southwest U.S. Combined Organization to Benefit from Enhanced Group of Elite Physicians, Operational Synergies, Increased Scale, Elevated Patient Care Download June 21, 2022 08:00 AM Eastern Daylight Time BOCA RATON, Fla. & CHICAGO--( BUSINESS WIRE )--Sun Capital Partners (“Sun Capital”), a leading healthcare services investor, and Sterling Partners (“Sterling”), a diversified investment management platform, today announced the merger of Sun Capital portfolio company West Dermatology (“WestDerm”) and Sterling portfolio company Platinum Dermatology Partners (“Platinum”). Terms of the transaction were not disclosed. The combination of WestDerm, a group providing business support services to over 300 dermatology providers, including many of the most prominent dermatologists in the Western United States, and Platinum, a dermatology group practice organization with a strong presence among many of the leading physicians in the fast-growing Texas and Arizona markets, creates a clear industry leader with more than 100 locations spanning the Southwestern U.S. and Southern California. “We are very excited by the opportunity to bring together two leading dermatology organizations highly focused on clinical excellence, with strong cultural and geographic synergies,” said Daniel Florian, Managing Director at Sun Capital. “Merging with Platinum will allow WestDerm to continue to accelerate its expansion, grow its footprint, and expand patient care. We expect the combined platform to lead the industry in clinical excellence, create the most attractive platform for dermatologists to partner with, and deliver the best patient care in dermatology.” “It has been a privilege to be involved in Platinum’s growth story,” said Steven Taslitz, Co-Founder and Chairman at Sterling Partners. “We’re thrilled to have Platinum partner with WestDerm, and together continue their proven track records of excellence in this industry. We look forward to seeing the company’s continued growth and future successes.” Founded in 1962 and headquartered in Newport Beach, California, WestDerm is a rapidly growing practice management group focused exclusively on dermatology. Acquired by an affiliate of Sun Capital in February 2020, WestDerm provides administrative support and a dynamic clinical community for some of the most pre-eminent providers in the Western U.S. offering cosmetic, surgical, and medical dermatology services for many skin conditions, cancer prevention, and remediation. Formed by a partnership between Sterling Partners and Dallas Associated Dermatologists in 2016, Platinum benefited from Sterling’s resources, capital, and years of experience in healthcare services. Over the last six years, Platinum welcomed multiple practices into its network resulting in significant growth, particularly in the Dallas/Fort Worth and Phoenix markets. “Sterling’s constant support, operational expertise, and industry connections allowed us to successfully achieve the growth vision we had with them when we started our partnership. We look forward to our continued growth as we partner with the team at WestDerm, who bring unique strengths and capabilities to our expanding network,” said Michael Pennington, Co-Founder and President of Platinum Dermatology Partners. “We look forward to partnering with Platinum. We’re excited to leverage our combined expertise and market presence to explore new growth opportunities and enhance our service offerings to bring world-class care to more patients,” said Brian Stern, CEO of WestDerm. Sun Capital and WestDerm were represented by Cantor Fitzgerald, Edgemont Partners, and Kirkland & Ellis in the transaction, while Sterling and Platinum were represented by Houlihan Lokey, McDermott, Will & Emery, and Katten Muchin Rosenman. About Sun Capital Partners, Inc. Sun Capital Partners, Inc. is a global private equity firm focused on partnering with outstanding management teams to accelerate value creation. Since 1995, Sun Capital has invested in more than 475 companies worldwide with revenues in excess of $50 billion across a broad range of industries and transaction structures. The Firm has built a reputation as a trusted partner, recognized for its operational experience. Sun Capital focuses on defensible businesses in growing markets with tangible performance improvement opportunities in the Business Services, Consumer, Healthcare, Industrial, and Technology sectors. The Firm has offices in Boca Raton, Los Angeles and New York, and an affiliate with offices in London. For more information, please visit www.suncappart.com . About Sterling Partners Sterling Partners (“Sterling”) is a diversified investment management platform founded in 1983 and based in Chicago. The firm started with four young entrepreneurs, who went on to build one of Chicago’s most prominent private equity firms. Today, the firm has expanded beyond its strong private equity practice into several other investment strategies. Complementing its institutional fund practice, Sterling invests in a wide variety of companies in various stages of growth - from early-stage, high-growth businesses to mature, profitable companies – on a deal-by-deal basis. These investments cross several industries, and the firm makes control, non-control, and preferred equity investments. Sterling adds value to its portfolio companies and the founders with whom it partners with its entrepreneurial roots, deep domain expertise, focus on transformational growth, and access to world-class executive talent. For more information, please visit www.sterlingpartners.com . About WestDerm WestDerm is committed to providing comprehensive dermatology services and education to patients so that they can have longer, healthier lives. Committed to clinical excellence, the providers at WestDerm are world-class experts in skincare, have decades of experience across dermatology, and all the doctors are board-certified. Recognized as the clinical leaders in dermatology in the country, WestDerm continues to expand its footprint and service offerings to best care for the patients in the communities they serve. Headquartered in Newport Beach, CA, the company offers access to medical, cosmetic, and surgical dermatology services in Arizona, California, and Nevada. WestDerm also has an industry-leading research department and a best-in-class dermatopathology lab. WestDerm continues to grow and is always looking to add great providers and top talent to its community of practices. Patients interested in being seen at one of the many WestDerm locations can schedule appointments directly on the WestDerm website at www.westderm.com , where they will find additional information on the WestDerm providers, locations, and the conditions they treat. About Platinum Dermatology Partners Headquartered in Dallas, TX, Platinum Dermatology Partners builds true partnerships with highly reputable dermatology practices to empower growth and best-in-class dermatology services. In Platinum’s differentiated, physician-centered practice management model, physicians drive clinical care and their practice culture, while benefiting from the vast business expertise, resources, and shared best practices available through the Platinum network. As a comprehensive physician management services organization, Platinum offers collaboration among top-notch dermatology professionals and practice growth opportunities unmatched in an independent practice. For more information about Platinum Dermatology Partners, please visit www.platinumderm.com . Contacts

Sterling Partners Investments

101 Investments

Sterling Partners has made 101 investments. Their latest investment was in Aliro as part of their Series A on May 5, 2022.

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Sterling Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/12/2022

Series A

Aliro

Yes

1

12/15/2021

Unattributed VC

Lecturio

$45M

Yes

7

9/14/2020

Private Equity

Datacubed Health

$30M

Yes

Undisclosed Investors

6

4/9/2020

Series B

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$99M

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10

9/26/2018

Series A

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10

Date

5/12/2022

12/15/2021

9/14/2020

4/9/2020

9/26/2018

Round

Series A

Unattributed VC

Private Equity

Series B

Series A

Company

Aliro

Lecturio

Datacubed Health

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Amount

$45M

$30M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Undisclosed Investors

Sources

1

7

6

10

10

Sterling Partners Portfolio Exits

32 Portfolio Exits

Sterling Partners has 32 portfolio exits. Their latest portfolio exit was Results Physiotherapy on August 02, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/2/2021

Acquired

$99M

2

2/6/2019

Acquired

$99M

2

1/9/2019

Acq - Fin

$99M

3

11/30/2018

Acq - Fin - II

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$99M

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10

10/25/2018

Acquired

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$99M

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10

Date

8/2/2021

2/6/2019

1/9/2019

11/30/2018

10/25/2018

Exit

Acquired

Acquired

Acq - Fin

Acq - Fin - II

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

2

3

10

10

Sterling Partners Acquisitions

29 Acquisitions

Sterling Partners acquired 29 companies. Their latest acquisition was Grand Rapids Ophthalmology on February 24, 2017.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/24/2017

$99M

Acq - Fin

3

7/17/2015

$99M

Acq - Fin

1

7/16/2015

$99M

Acquired Unit - Fin

1

10/10/2014

Debt

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$99M

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10

1/10/2014

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$99M

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10

Date

2/24/2017

7/17/2015

7/16/2015

10/10/2014

1/10/2014

Investment Stage

Debt

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acq - Fin

Acq - Fin

Acquired Unit - Fin

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Sources

3

1

1

10

10

Sterling Partners Fund History

9 Fund Histories

Sterling Partners has 9 funds, including Sterling Small Market Education Fund LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/13/2015

Sterling Small Market Education Fund LP

Expansions & Growth

Closed

$200M

1

6/28/2013

Sterling Capital Partners IV LP

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$99M

10

8/20/2010

Sterling Partners Small Market Growth 2009 LP

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$99M

10

9/1/2009

SC Partners 2009 Special LP

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$99M

10

6/13/2007

Sterling Capital Partners III LP

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$99M

10

Closing Date

4/13/2015

6/28/2013

8/20/2010

9/1/2009

6/13/2007

Fund

Sterling Small Market Education Fund LP

Sterling Capital Partners IV LP

Sterling Partners Small Market Growth 2009 LP

SC Partners 2009 Special LP

Sterling Capital Partners III LP

Fund Type

Expansions & Growth

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Status

Closed

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Amount

$200M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Sterling Partners Partners & Customers

9 Partners and customers

Sterling Partners has 9 strategic partners and customers. Sterling Partners recently partnered with Reading Plus on May 5, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

5/13/2019

Partner

United States

Sterling Partners’ Education Opportunity Fund Partners with Reading Plus – Avathon Capital

The partnership with Sterling Partners will enable Reading Plus to expand its best-in-class customer success operations , explore technology enhancements , and further develop sales and marketing functions .

1

8/13/2018

Partner

United States

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10

5/30/2018

Partner

United States

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10

3/28/2018

Partner

United States

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10

2/23/2017

Partner

United States

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10

Date

5/13/2019

8/13/2018

5/30/2018

3/28/2018

2/23/2017

Type

Partner

Partner

Partner

Partner

Partner

Business Partner

Country

United States

United States

United States

United States

United States

News Snippet

Sterling Partners’ Education Opportunity Fund Partners with Reading Plus – Avathon Capital

The partnership with Sterling Partners will enable Reading Plus to expand its best-in-class customer success operations , explore technology enhancements , and further develop sales and marketing functions .

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Sources

1

10

10

10

10

Sterling Partners Service Providers

1 Service Provider

Sterling Partners has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

Partnership data by VentureSource

Sterling Partners Team

21 Team Members

Sterling Partners has 21 team members, including current Founder, Senior Managing Director, Christopher Hoehn-Saric.

Name

Work History

Title

Status

Douglas L Becker

Founder

Current

Michael G. Bronfein

Founder

Current

Christopher Hoehn-Saric

Founder, Senior Managing Director

Current

Steven Taslitz

Founder

Current

Avi Epstein

Chief Operating Officer, Chief Compliance Officer, Managing Director

Current

Name

Douglas L Becker

Michael G. Bronfein

Christopher Hoehn-Saric

Steven Taslitz

Avi Epstein

Work History

Title

Founder

Founder

Founder, Senior Managing Director

Founder

Chief Operating Officer, Chief Compliance Officer, Managing Director

Status

Current

Current

Current

Current

Current

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