River Cities Capital Funds Mergers and Acquisitions Summary

Venture Capital Firm Profile

In the last 3 years, River Cities Capital Funds has acquired 1 company. It has also invested in 5 others.

River Cities Capital Funds’ most common sectors for investment aremedical products (35%) and healthcare services (20%) . The Firm’s most common investment types include venture (65%) and growth capital (25%). In total, River Cities Capital Funds has invested in 14 US states.

In the last 3 years, River Cities Capital Funds has exited 3 companies. The Firm’s most common exit type is trade sale (78%). River Cities Capital Funds’ largest (disclosed) exit occurred in 2015 when it sold SurgiQuest for $265M.

Join Mergr to view River Cities Capital Funds’ full profile and discover more middle-market venture capital firm investors just like it.

M&A Summary

  • M&A Total Activity29
    • M&A Buy Activity20
    • M&A Sell Activity9
  • Total Sectors Invested 7
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 16
  • M&A Advisors 2

River Cities Capital Funds (RC Capital)

221 East Fourth Street, Suite 2400,
Cincinnati, Ohio 45202
United States
(513) 621-9700
www.rccf.com

River Cities Capital Funds is a growth equity investment firm focused on healthcare services and information technology companies. River Cities seeks to invest $5 to $15 million in companies with at least $5 million in revenue. The Firm generally targets companies that pursue large, established markets with disruptive, “better, faster, cheaper” solutions. River Cities Capital Funds was established in 1994 and is headquartered in Cincinnati, Ohio.


Investment Criteria

Sectors of Interest: Healthcare Services, Information Technology, Internet Software and Services, Medical Products, Software, Staffing

Target Transaction Types: Growth Capital, Venture

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 5 -
Target EBITDA - -
Investment Size 5 15
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.2/yr) # 14 - 4 2 - - 20
Sell (0.6/yr) # 6 - 2 1 - - 9
vol $530M $170M $700M
  29

Most Recent M&A

Company Date Value Type
Cognitive Research Corp. 2022-10-25 - Recapitalization
St. Petersburg, Florida · www.cogres.com
Standard Bariatrics 2022-08-22 170M USD Trade Sale
Cincinnati, Ohio · www.standardbariatrics.com
OnCall Staffing 2022-07-06 - Growth Capital
Philadelphia, Pennsylvania · www.oncallsolutions.com
FlexCare Infusion Centers 2021-11-04 - Growth Capital
Oklahoma, Oklahoma · www.flexcareinfusion.com
SPR Therapeutics 2021-10-18 - Venture
Cleveland, Ohio · www.sprtherapeutics.com
Standard Bariatrics 2021-06-01 - Venture
Cincinnati, Ohio · www.standardbariatrics.com
DialogTech, Inc. 2021-05-24 - Trade Sale
Chicago, Illinois · www.dialogtech.com
MindPath Care Centers PLLC 2021-05-11 - Trade Sale
Durham, North Carolina · www.mindpathcare.com
Q’Apel Medical, Inc. 2021-02-11 - Venture
Fremont, California · www.qapelmedical.com
Catalyst OrthoScience, Inc. 2019-05-14 - Venture
Naples, Florida · www.catalystortho.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Medical Products 4 (40%) - 7 (35%) -
Healthcare Services 1 (10%) - 4 (20%) -
Internet Software and Services 1 (10%) - 3 (15%) -
Life Science 1 (10%) - 2 (10%) -
Software 2 (20%) - 2 (10%) -
Chemicals - - 1 (5%) -
Staffing 1 (10%) - 1 (5%) -
Total 10 - 20 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 10 (100%) - 20 (100%) -
  Florida 2 (20%) - 3 (15%) -
  Ohio 1 (10%) - 3 (15%) -
  California 2 (20%) - 2 (10%) -
  Colorado 1 (10%) - 2 (10%) -
  Virginia 1 (10%) - 1 (5%) -
  Texas 1 (10%) - 1 (5%) -
  Pennsylvania 1 (10%) - 1 (5%) -
  Oklahoma 1 (10%) - 1 (5%) -
  Illinois - - 1 (5%) -
  Georgia - - 1 (5%) -
  Connecticut - - 1 (5%) -
  Washington - - 1 (5%) -
  Tennessee - - 1 (5%) -
  North Carolina - - 1 (5%) -
Total 10 - 20 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Venture 6 (60%) - 13 (65%) -
Growth Capital 3 (30%) - 5 (25%) -
Acquisition Financing - - 1 (5%) -
Recapitalization 1 (10%) - 1 (5%) -
Total 10 - 20 -

Exits by Deal Type

Type Total # Value
Trade Sale 5 (56%) 170M (24%)
Trade Sale - Public Company 2 (22%) 460M (66%)
Secondary Sale 2 (22%) 70M (10%)
Total 9 $700M

Top M&A Advisors

Legal Deals
McGuireWoods LLP
1
Bass, Berry & Sims PLC
1

Deal Values

sell # Total
$100M to $1B 3 $630M
< $100M 1 $70M
TOTAL $700M
Largest SurgiQuest, Inc.
$265M (2015-11-16)

M&A Connections

Deals
Exited to
Investor(s)
22%
2 (22%)
Strategic(s)
78%
7 (78%)

FAQ

When was River Cities Capital Funds (RC Capital) founded?

River Cities Capital Funds (RC Capital) was founded in 1994.

What type of investor is River Cities Capital Funds (RC Capital)?

River Cities Capital Funds (RC Capital) is a venture capital firm.

Where is River Cities Capital Funds (RC Capital) headquartered?

River Cities Capital Funds (RC Capital) is headquartered in Cincinnati, Ohio.

How much capital does River Cities Capital Funds (RC Capital) have under management?

River Cities Capital Funds (RC Capital) has 750M USD under management.

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