M&A Deal Summary

Pamlico Capital Acquires VRI

On February 4, 2014, private equity firm Pamlico Capital acquired healthcare services company VRI from Blue Canyon Capital and Marion Equity Partners

Acquisition Highlights
  • This is Pamlico Capital’s 6th transaction in the Healthcare Services sector.
  • This is Pamlico Capital’s 43rd transaction in the United States.
  • This is Pamlico Capital’s 2nd transaction in Ohio.
Investment Fate
  • VRI was sold to a publicly-traded strategic buyer in 2021 for 315M USD.

M&A Deal Summary

Date 2014-02-04
Target VRI
Sector Healthcare Services
Buyer(s) Pamlico Capital
Sellers(s) Blue Canyon Capital
Marion Equity Partners
Deal Type Secondary Buyout
Advisor(s) Triple Tree (Financial)
McDermott Will & Emery (Legal)

Target

VRI

Franklin, Ohio, United States
VRI is a provider of telehealth monitoring, monitored medication dispensing and adherence solutions, and medical alert systems, serving over 100,000 actively monitored clients across the country. VRI was founded in 1989 and is based in Franklin, Ohio.

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Buyer(S) 1

Buyer

Pamlico Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 45 of 87
Sector: Healthcare Services M&A 6 of 8
Type: Secondary Buyout M&A Deals 9 of 17
State: Ohio M&A 2 of 2
Country: United States M&A 43 of 82
Year: 2014 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-08 Integrated BroadBand Services

Kennesaw, Georgia, United States

Integrated BroadBand Services LLC is a provider of broadband network management software and services. IBBS provides managed software solutions that enable broadband providers to deliver exceptional services and reduce unnecessary operations costs.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-24 Daxko

Birmingham, Alabama, United States

Daxko provides SaaS solutions to organizations including YMCA/YWCAs, JCCs, health clubs, wellness centers and recreation facilities. The Company’s products help more than 1,200 organizations manage their scheduling and daily operations, member management and engagement, accounting, event registration, payment services, and mobile applications. Daxko was founded in 1998 and is based in Birmingham, Alabama.

Buy -

Seller(S) 2

SELLER

Blue Canyon Capital

Dayton, Ohio, United States

Category Search Fund
Founded 2006
Size Small
Type Sector Focused
DESCRIPTION

Blue Canyon Capital is a private investment firm that seeks to acquire small to middle market companies operating in manufacturing and business services. The Firm looks to invest in businesses generating sales of $5 to $50 million and EBITDA of $2 to $7 million. Blue Canyon prefers companies with recurring revenues and that have sufficient assets to provide collateral for debt financing. Blue Canyon Capital was founded in 2006 and is based in Dayton, Ohio.


DEAL STATS #
Overall 1 of 1
Sector: Healthcare Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Ohio M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-13 VRI

Franklin, Ohio, United States

VRI is a provider of telehealth monitoring, monitored medication dispensing and adherence solutions, and medical alert systems, serving over 100,000 actively monitored clients across the country. VRI was founded in 1989 and is based in Franklin, Ohio.

Buy -
SELLER

Marion Equity Partners

Boston, Massachusetts, United States

Category Private Equity Firm
PE ASSETS 300M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Marion Equity Partners LLC (MEP) is a private equity firm that acquires growing businesses across a wide range of industries and geographies. MEP looks to invest $500,000 to $2 million per transaction. The Firm targets companies in healthcare, medical products, outsourcing, business services, recycling and financial services. Marion Equity Partners LLC is based in Boston, Massachusetts.


DEAL STATS #
Overall 3 of 5
Sector: Healthcare Services M&A 1 of 2
Type: Secondary Buyout M&A Deals 2 of 3
State: Ohio M&A 1 of 1
Country: United States M&A 2 of 4
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-03 EM Assist

Folsom, California, United States

EM-Assist, Inc. is government’s trusted partner for environmental program management, technical support, and training solutions. The company helps clients cost-effectively address their most challenging environmental compliance, information management, conservation and planning, and restoration needs. EM-Assist also helps clients deliver the right training to the right people at the right time by blending custom eLearning courseware with instructor-led training, and by providing efficient training program administration through powerful, easy-to-use learning management systems. EM-Assist, founded in 1996, is headquartered in Folsom, CA and has 120 professionals in multiple offices throughout California, Utah, and Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-18 Avadyne Health

Moline, Illinois, United States

Avadyne Health is a provider of revenue cycle management services to a wide range of healthcare providers across the nation. Avadyne Health was founded in 1971 and is based in Moline, Illinois.

Sell -