Investment Summary

New Harbor Capital and Maranon Capital Invest In Advent Home Medical

On March 12, 2021, private equity firm New Harbor Capital and mezzanine finance firm Maranon Capital invested in medical products company Advent Home Medical

Investment Highlights
  • This is New Harbor Capital’s 1st and Maranon Capital’s 3rd transaction in the Medical Products sector.
  • This is New Harbor Capital’s 16th and Maranon Capital’s 35th transaction in the United States.
  • This is New Harbor Capital’s 1st and Maranon Capital’s 2nd transaction in Michigan.

Investment Summary

Date 2021-03-12
Target Advent Home Medical
Sector Medical Products
Investor(s) New Harbor Capital
Maranon Capital
Deal Type Growth Capital
Advisor(s) Stout Risius Ross LLC (Financial)
Clark Hill (Legal)

Target

Advent Home Medical

Pontiac, Michigan, United States
website
Advent Home Medical is a high-tech medical equipment company. Family owned and operated by a respiratory therapist, Advent's home ventilator program, home tracheostomy program & ventilator weaning program are designed to safely transition home the most complex respiratory patients of all ages. Advent Home Medical was founded in 2004 and is based in Pontiac, Michigan.

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Investor(S) 2

Investor
DESCRIPTION

New Harbor Capital is a lower middle-market private equity firm focused on investing in and acquiring profitable, growth-oriented companies. New Harbor seeks opportunities in the healthcare services, education, and business services sectors and looks to invest $10 to $40 million per transaction. The Firm prefers control investment situations and typically looks to fund growth capital financings, management buyouts, and recapitalizations. New Harbor Capital was established in 2013 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 16 of 22
Sector (Medical Products) 1 of 1
Type (Growth Capital) 3 of 6
State (Michigan) 1 of 1
Country (United States) 16 of 22
Year (2021) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-15 Community Psychiatry Management

Sacramento, California, United States

Community Psychiatry Management LLC is a behavioral health practice management company supporting over 40 affiliated psychiatrists practicing in California’s Sacramento, San Joaquin, and Bay Areas. Community Psychiatry Management was founded in 1995 and is based in Sacramento, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-19 Ocean State Urgent Care

Cumberland, Rhode Island, United States

Ocean State Urgent Care is an independent provider of urgent care, primary care, and related healthcare services in Rhode Island. The Company treats over 200,000 patients annually through a network of 60 physicians and mid-level providers across 20 locations. Ocean State Urgent Care was founded in 2013 and is based in Cumberland, Rhode Island.

Sell -
Investor

Maranon Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Maranon Capital LP is an investment firm that provides senior financing, mezzanine debt and equity co-investments for private equity backed and non sponsored middle market companies. Maranon seeks investments in financially healthy businesses with stable cash flows, diverse customers, and strong management. Prospective companies are valued between $30 and $150 million and generate $5 to $30 million of EBITDA. Maranon looks to invest $2 to $10 million for equity co-investments, $5 to $30 million for junior capital needs, and $10 to $50 million for senior debt requirements. Areas of interest include business services, healthcare services, distribution, manufacturing and consumer products/services. Funds typically support acquisitions, recapitalizations, refinancings, consolidations, ESOPs and growth capital needs. Maranon Capital LP was formed in 2007 and is based in Chicago. The Firm has additional offices in Birmingham, Michigan and South Bend, Indiana.


DEAL STATS #
Overall 36 of 38
Sector (Medical Products) 3 of 3
Type (Growth Capital) 5 of 6
State (Michigan) 2 of 2
Country (United States) 35 of 37
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Vivo Infusion

Lakewood, Colorado, United States

Vivo Infusion is a provider of accessible, affordable, and safe community-based infusion and injection care for patients suffering from compromised immune systems, infectious disease, and other medical conditions. The company provides convenient, compassionate, expert care administered in safe and inviting state-of-the-art facilities using efficient and cost-effective patient-focused best practices. It currently serves communities in Colorado, Florida, Ohio, Oklahoma, and Texas with plans to expand into additional states. Vivo Infusion was formed in 2022 and is based in Lakewood, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-08 LDR Site Services

Atlanta, Georgia, United States

LDR Site Services is an asset-light provider of equipment rental and related hauling services to site-based projects across the U.S. LDR services multiple industries with varying needs, including, environmental, facilities maintenance, retail, government, construction and commercial, and other events. LDR Site Services was founded in 2010 and is headquartered in Atlanta, Georgia.

Buy -