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Linden sees 8x return on original HydraFacial investment amid $1.1bn SPAC merger

Dec 09, 2020 - peHUB
Mergers and Acquisitions

As HydraFacial agrees to merge with Vester Healthcare Acquisition Corp, Linden Capital Partners has so far generated an 8x return on original invested capital based on the SPAC's current share price, LP sources with knowledge of the matter told PE Hub. 

The pending transaction, announced Wednesday, implies an initial enterprise value of $1.1 billion for HydraFacial, whose 30-minute signature facial is likened to a medical treatment and viewed as an alternative to microdermabrasion. 

Vester was co-founded by Brent Saunders, who is not only an industry veteran but an experienced dealmaker as the former CEO of Allergan, Forest Laboratories, and Bausch + Lomb. The former is best known as the maker of Botox injections...