King & Wood Mallesons (KWM) have advised the vendors of the Evolution Healthcare Group on the sale of the Group to funds advised by Pacific Equity Partners (PEP).
The vendors included funds affiliated with investment firm ROC Partners, a Goldman Sachs (GS) fund, the founders and existing management.
The transaction will see PEP acquire a majority stake in the private hospital operator.
The KWM deal team was led by Private Equity Partner Mark McNamara supported by Senior Associate Nick Hawthorne and Associate Justin Wretham.
Commenting on the transaction Mark McNamara said: "The founders and management of Evolution, in partnership with their institutional partners, have done a remarkable job in building one of the leading Australasian health care groups over a relatively short period. We were delighted to be appointed to advise on this latest transaction and to continue our long term relationship with the group and its management team. We look forward to watching the group continue on its growth path under the new partnership with PEP."
This transaction follows a series of other notable transactions for the KWM Private Equity team in the healthcare space, including acting for The Growth Fund on its sale of Laser Clinics Australia, acting for Quadrant and others on the sale of ICON group and acting for Quadrant on the acquisition of Qscan Group.