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Mergers & Acquisitions

CI Capital Sells Epiphany Dermatology

Published: February 3rd, 2022
The Deal reported in October that the PE firm was exploring a sale of the Austin, Texas-based dermatology company.

CI Capital Partners LLC has sold Epiphany Dermatology PA to Leonard Green & Partners LP. Terms were not disclosed in the Tuesday, Feb. 1, announcement.

The Deal reported in October that CI was exploring a sale of the dermatology company and that Lincoln International LLC was running the process for the company.

Sources said at the time Epiphany had Ebitda of about $25 million to $30 million and could fetch a multiple in the mid-teens.

Austin, Texas-based Epiphany, in which CI invested in 2016, is a provider of general dermatology, skin cancer care, Mohs surgery and cosmetic services. It has 67 locations in 12 states, including Arizona, Colorado, Georgia and Wyoming.

Paul, Weiss, Rifkind, Wharton & Garrison LLP’s Edward T. Ackerman and Erika A. Detjen provided legal advice to Epiphany on its sale to Leonard Green.

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