Kirkland & Ellis advised Linden Capital Partners (“Linden”) and its portfolio company The HydraFacial™ Company (“HydraFacial”), a category-creating beauty health company, on a definitive merger agreement with Vesper Healthcare Acquisition Corp. (NASDAQ: VSPR) (“Vesper Healthcare”), a special purpose acquisition company co-founded by Brent Saunders, former CEO of Allergan, Forest Laboratories, and Bausch + Lomb, pursuant to which HydraFacial and Vesper Healthcare will combine, and after which HydraFacial will become a public company. Upon completion of the transaction, the combined company expects to be listed on the NASDAQ exchange. The transaction values HydraFacial at an enterprise value of $1.1 billion, and following completion of the transaction, the company expects to have $100 million in cash to fund future growth and no debt. Linden will remain HydraFacial’s largest shareholder following the consummation of the transaction.
The Kirkland team was led by transactional partners Maggie Flores, Robert Wilson and Monica Shilling and associates Sam Stucker and Marina Yarnoff; capital markets partners Robert Hayward and Abbey Raish and associate Casey Harless; and tax partner Kevin Coenen and associate Christopher Worek.