EQT’s Sale Of Press Ganey

Simpson Thacher represented EQT VII fund and Press Ganey in EQT’s agreement to sell Press Ganey to a consortium of Ares Management, L.P., Leonard Green & Partners, L.P., GIC and other co-investors.

The sale of Press Ganey marks the first portfolio company exit by EQT’s U.S. Private Equity strategy.

Press Ganey is a provider of safety, quality, patient experience and workforce engagement solutions for healthcare organizations in the U.S. The company serves over 41,000 healthcare facilities, more than 75% of U.S. acute care hospitals and over 2,500 outpatient facilities.

EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the U.S. with total sales of more than EUR 21 billion and approximately 127,000 employees.

Barclays and Goldman Sachs acted as joint financial advisors and Simpson Thacher & Bartlett acted as legal advisor to EQT and Press Ganey.

The Simpson Thacher team included Robert Langdon (Picture), Michael T. Holick, Mark Myott, Philip Cooper, Rex Hupy and Ben Carson (M&A); Jennifer Hobbs and Eli Isak (Banking and Credit); Ryan Bekkerus (Capital Markets); Jonathan Goldstein and Morgan Otway (Tax); David Rubinsky, Jeannine McSweeney and Jake Phillips (Executive Compensation and Employee Benefits); Marcela Robledo and Corina McIntyre (IP); Sara Razi, Ellen Frye and Tomi Mendel (Antitrust); Timothy J. Mulvihill (Environmental); and Krista McManus (Real Estate).

Involved fees earner: Ryan Bekkerus – Simpson Thacher & Bartlett; Ben Carson – Simpson Thacher & Bartlett; Philip Cooper – Simpson Thacher & Bartlett; Ellen Frye – Simpson Thacher & Bartlett; Jonathan Goldstein – Simpson Thacher & Bartlett; Jennifer Hobbs – Simpson Thacher & Bartlett; Michael Holick – Simpson Thacher & Bartlett; Rex Hupy – Simpson Thacher & Bartlett; Eli Isak – Simpson Thacher & Bartlett; Robert Langdon – Simpson Thacher & Bartlett; Corina McIntyre – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; Jeannine McSweeney – Simpson Thacher & Bartlett; Tomi Mendel – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Mark Myott – Simpson Thacher & Bartlett; Morgan Otway – Simpson Thacher & Bartlett; Jacob Phillips – Simpson Thacher & Bartlett; Sara Razi – Simpson Thacher & Bartlett; Marcela Robledo – Simpson Thacher & Bartlett; David Rubinsky – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: EQT VII; Press Ganey;