Fairmount Partners, an investment bank advising emerging growth and middle market companies, closed a record 35 deals over the past two years, with average transaction value topping $90 million, and aggregate value of close to $3.3 billion.
“After record years in 2020 and 2021, we drove substantial results in 2022, even in a fluctuating economy, across all four of our practice areas (Consulting & Technology Services, Healthcare, Industrial & Consumer, and Technology),” the firm said in an annual note. “These include transactions with parties in the United States as well as Canada, France and the United Kingdom.”
Based in a new office in Radnor, Pa., Fairmount closed 11 deals in 2022. Of them, 7 were M&As:
- avsbio’s acquisition by ACP;
- Porzio Life Sciences’ acquisition by RLDatix;
- Barrington James’ acquisition by Orangewood;
- Context’s acquisition by Apex;
- Orchestrate Healthcare’s acquisition by bakertilly;
- ACSiS’ acquisition by Antares Vision; and
- Propeller’s acquisition by OmnicomHealthGroup
Three other deals involved investments for Quire, Decon Seven and LaSalle Network, and one involved recapitalization for Corealis Pharma.
Fairmount’s founders include managing directors Neal McCarthy and Dick Thatcher, Jr., both of whom worked together at Investec before turning entrepreneurs. McCarthy, who previously headed multiple Investec units in the United States, focuses primarily on healthcare and pharmaceutical outsourced services. Thatcher, who led Investec’s corporate finance practice, specializes in mergers and acquisitions, strategic/financial advisory services, and private financings.
In 2023, Fairmount entered its 20th year in operation with a history of closing over 275 transactions totaling more than $15 billion in aggregate client value. It started off the new year with a flurry too, closing three deals in January — EastHorn Clinical Services’ acquisition by Novotech; Project George’s acquisition by a Philadelphia-based private equity firm; and Project Masterkey’s acquisition by a PE-backed strategic partner. Fairmount expects to close several more in the first quarter.
In 2022, Fairmount promoted analyst Andy Brown and associate Jonathan Smith as managing directors. The two provided “exceptional support to clients on over 200 collective transactions as they have risen through our ranks,” Fairmount said. “Their commitment to achieving outstanding results for their clients, combined with their in-depth knowledge of their respective industries, make Andy and Jonathan invaluable leaders of the Fairmount team.”
Fairmount also promoted Ryan Remely and Mihir Patel as associates, and added Maria Calderon, Roy Geng, Ian Moore and Suveer Seemangal as analysts. Last year, it also moved to a new office in Radnor, Pennsylvania.
