Mid-Market Deal of the Year 2022

Buyouts has recognized Francisco Partners’ sale of Trellis Rx to CPS Solutions as its 2022 “Mid-Market Deal of the Year.” Kirkland represented FP and the company in the sale of Trellis Rx, a technology-enabled specialty pharmacy services provider, to CPS Solutions, a provider of enterprise pharmacy solutions to hospitals and health systems. The combined company will offer a broader range of offerings and provide greater flexibility of services, structure and support to patients and health and hospital systems. Per Buyouts, the sale generated an approximately 23.8x return for Francisco Partners since launching Trellis in 2016. The deal was led by corporate partner Chris Burwell and corporate associate Kelsey Chetosky, along with corporate partner Sean Kramer, tax partner Devin Heckman and antitrust partner Andrea Murino.