Houlihan Lokey Advises Soleo Health
Houlihan Lokey is pleased to announce that Soleo Health (Soleo), a portfolio company of H.I.G. Capital (H.I.G.), has been acquired by Court Square Capital Partners (Court Square) and WindRose Health Investors, LLC (WindRose). The transaction closed on January 31, 2025. Houlihan Lokey served as the lead financial advisor to Soleo.
Frisco, Texas-based Soleo is a leading, independent national provider of complex specialty pharmacy services and infusion therapy administered in the home or at alternate sites of care. Soleo’s interdisciplinary team comprises highly experienced clinical pharmacists, registered nurses, reimbursement specialists, and patient care ambassadors collaborating with its referring partners. The company optimizes patient care solutions and delivers comprehensive services, leading to quantifiable clinical and economic value, which results in positive patient experiences. Soleo has 26 pharmacy locations with national nursing coverage and pharmacy licensure in 50 states and is accredited by the URAC, ACHC with Distinction in Rare Diseases and Orphan Drugs, National Association of Boards of Pharmacy, and Joint Commission. Additionally, the company operates more than 30 infusion suites and centers throughout the United States.
H.I.G. is a leading global alternative investment firm with $67 billion of capital under management. Based in Miami with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle-market companies, utilizing a flexible and operationally focused/value-added approach. Since its founding in 1993, H.I.G. has invested in and managed over 400 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion.
WindRose makes equity investments in companies that operate within the services sectors of the healthcare industry. The firm focuses on companies with profitable business models and a demonstrated ability to deliver cost-effective solutions. WindRose manages more than $3.6 billion. WindRose is based in New York and invests in companies throughout the United States.
Court Square is a middle-market private equity firm with more than 40 years of experience in the industry. Since 1979, Court Square has completed over 245 platform investments and is focused on helping founders, families, and manager-owners develop their companies into leaders in their respective markets. Court Square invests in companies that have compelling growth potential in the industrial, business services, healthcare, and tech and telecom sectors. As of September 2024, Court Square has $9.3 billion in assets under management and is based in New York.
This transaction further highlights Houlihan Lokey’s leadership in the pharmacy and infusion-related services sector, becoming its 10th closed M&A transaction in this space since 2020 and fourth closed M&A transaction in the past 12 months. Houlihan Lokey’s Healthcare Group is among the largest dedicated healthcare investment banking groups in the world. In 2024, the group closed 35 transactions and was ranked by LSEG (formerly Refinitiv) as the No. 1 advisor for global healthcare M&A transactions under $1 billion.
Houlihan Lokey served as the lead financial advisor to Soleo and assisted in initiating, structuring, and negotiating the transaction on its behalf.