Simpson Thacher is representing funds advised by Apax Partners in connection with their definitive agreement to acquire Syneron Medical Ltd. (NASDAQ: ELOS). Under the terms of the agreement, Apax will acquire all of the outstanding shares of Syneron Candela for $11 per share in a cash transaction valued at approximately $397 million. The transaction is subject to customary closing conditions, including Syneron Candela shareholder approval and the receipt of certain regulatory approvals.
Syneron Candela is a leading global non-surgical aesthetic device company with a comprehensive product portfolio and a global distribution footprint. Syneron Candela’s technology enables physicians to provide advanced solutions for a broad range of medical-aesthetic applications including body contouring, hair removal, wrinkle reduction, tattoo removal, improving the skin’s appearance through the treatment of superficial benign vascular and pigmented lesions, and the treatment of acne, leg veins and cellulite.
The Simpson Thacher team included Michael T. Holick, Ryerson Symons, Johanna Mayer and Matthew Kemp (M&A); Brian Robbins, Patricia Adams and Christopher Scavone (ECEB); Gary Mandel, Sophie Staples and Michael Badain (Tax); Lori Lesser and Amber Harezlak (IP); Krista McManus and Dennis Loiacono (Real Estate); and Timothy Mulvihill (Environmental). Karen McClendon and Masuyuki Ishibashi also provided valuable assistance.