Investment Summary

ABS Capital Partners, ABRY Partners and VSS Capital Partners Invest In Source Medical Solutions

On May 10, 2006, private equity firms ABS Capital Partners, ABRY Partners and VSS Capital Partners invested in information services company Source Medical Solutions

Investment Highlights
  • This is ABS Capital Partners’ 2nd, ABRY Partners’ 2nd and VSS Capital Partners’ 3rd transaction in the Information Services sector.
  • This is ABS Capital Partners’ 21st, ABRY Partners’ 31st and VSS Capital Partners’ 33rd transaction in the United States.
  • This is ABS Capital Partners’ 1st, ABRY Partners’ 1st and VSS Capital Partners’ 1st transaction in Alabama.
Investment Fate
  • Source Medical Solutions was sold to a strategic buyer in 2017.

Investment Summary

Date 2006-05-10
Target Source Medical Solutions
Sector Information Services
Investor(s) ABS Capital Partners
ABRY Partners
VSS Capital Partners
Deal Type Venture
Advisor(s) Triple Tree LLC (Financial)

Target

Source Medical Solutions

Birmingham, Alabama, United States
website
Source Medical Solutions, Inc. (SourceMedical) is a provider of outpatient information solutions and revenue cycle management services for rehabilitation clinics, ambulatory surgery centers and specialty hospitals nationwide. SourceMed is based in Birmingham, Alabama.

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Investor(S) 3

Investor

ABS Capital Partners

Hunt Valley, Maryland, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1990
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ABS Capital Partners is a private equity firm that invests in later-stage growth companies in the healthcare, technology, business services, media and communications sectors. ABS provides capital to help fund growth, provide shareholder liquidity, pursue acquisitions, or to effect a management buyout. The Firm prefers US based business and will consider both majority and minority positions. ABS looks to commit $10 to $30 million per transaction. ABS Capital was formed in 1990 and has offices in Baltimore, Maryland; Waltham, Massachusetts; and San Francisco, California.


DEAL STATS #
Overall 21 of 64
Sector (Information Services) 2 of 2
Type (Venture) 7 of 20
State (Alabama) 1 of 1
Country (United States) 21 of 63
Year (2006) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-23 Liquidity Services

Bethesda, Maryland, United States

Liquidity Services is an online auction marketplace for wholesale, surplus and salvage assets. LSI enables its corporate and government sellers to enhance their financial return on excess assets by providing a liquid marketplace and value-added services that integrate sales and marketing, logistics and transaction settlement into a single offering. Liquidity Services was founded in 1999 and is based in Bethesda, Maryland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-10 Brandywine Senior Care

Mount Laurel, New Jersey, United States

Based in Mount Laurel, New Jersey, Brandywine Senior Living is an owner and operator of senior housing residences in New York, New Jersey, Pennsylvania, Connecticut and Delaware with approximately 1,400 active beds. In June 2006, Warburg Pincus completed the acquisition of Brandywine in partnership with the company's existing management team, led by CEO Brenda Bacon. Brandywine expects to grow through the acquisition, development and management of additional senior housing facilities in the Northeast and mid-Atlantic regions.

Sell -
Investor

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 32 of 169
Sector (Information Services) 2 of 5
Type (Venture) 2 of 3
State (Alabama) 1 of 1
Country (United States) 31 of 144
Year (2006) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-16 Broadcast Electronics

Quincy, Illinois, United States

Broadcast Electronics, Inc. is a provider of equipment and software solutions to the radio broadcast market.

Buy $100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-05 Commonwealth Business Media

East Windsor, New Jersey, United States

Commonwealth Business Media, Inc. (CBM) is a provider of dedicated information products and services, including customized and proprietary data, magazines, directories, references, newsletters, and online services, to the international trade and transportation industry of North America. CBM, based in East Windsor, New Jersey, was formed by BP to acquire, from PRIMEDIA, Inc., the assets of the PRIMEDIA Directories Group.

Sell $152M
Investor

VSS Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

VSS Capital Partners is a private equity firm that targets investments in the media, communications, education, and information services sectors. VSS looks for opportunities with valuable brand franchises, stable cash flows, and infrastructure to support add-ons. The Firm will consider businesses throughout North America and Europe valued between $50 and $750 million. Prospective investment situations include management buyouts/buy-ins, expansion or acquisition financings, recapitalizations, build-ups, going private transactions, and partnerships. VSS was formed in 1981 and is based in New York City.


DEAL STATS #
Overall 42 of 95
Sector (Information Services) 3 of 3
Type (Venture) 1 of 1
State (Alabama) 1 of 1
Country (United States) 33 of 76
Year (2006) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-01 Radancy

New York, New York, United States

Radancy is a recruitment advertising agency with a unified platform, augmented by rich data and deep industry expertise, which is revolutionizing how employers attract and hire the talent they need. Radancy was founded in 1967 and is based in New York City.

Buy £27M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-06 Escalent

Livonia, Michigan, United States

Escalent is a human behavior and analytics firm specializing in industries facing disruption and business transformation. Escalent was formed in 1989 and is based in Livonia, Michigan.

Buy -