M&A Deal Summary

BIA Digital Partners and Bariston Partners Acquire HCPro

On December 28, 2002, mezzanine finance firm BIA Digital Partners and private equity firm Bariston Partners acquired business services company HCPro

Acquisition Highlights
  • This is BIA Digital Partners’ 1st and Bariston Partners’ 1st transaction in the Business Services sector.
  • This is BIA Digital Partners’ 4th and Bariston Partners’ 3rd transaction in the United States.
  • This is BIA Digital Partners’ 1st and Bariston Partners’ 1st transaction in Massachusetts.
Investment Fate
  • HCPro was sold to a consortium of financial buyers in 2005.
  • HCPro was sold to a consortium of buyers in 2008.
  • HCPro was sold to a strategic buyer in 2013.
  • HCPro was divested to a consortium of strategic buyers in 2023.

M&A Deal Summary

Date 2002-12-28
Target HCPro
Sector Business Services
Buyer(s) BIA Digital Partners
Bariston Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

HCPro

Middleton, Massachusetts, United States
HCPro is a provider of integrated information, education and training in the vital areas of healthcare regulation and compliance. HCPro was founded in 1986 and is based in Middleton, Massachusetts.

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Buyer(S) 2

Buyer

BIA Digital Partners

Chantilly, Virginia, United States

Category Mezzanine Finance Firm
Founded 1983
PE ASSETS 283M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

BIA Digital Partners is a private investment firm focused on making junior capital investments in businesses serving the media/entertainment, telecommunications, information services, and business services sectors. The Firm has a special interest in companies generating a significant level of recurring revenue. BIA typically invests in businesses valued from $20 to $100 million and revenues $15 to $100 million. Investment proceeds are generally used to pursue organic growth opportunities, make acquisitions, fund management or leveraged buyouts, recapitlizations, and debt refinancings. BIA is licensed as a SBIC and is based in Chantilly, Virginia.


DEAL STATS #
Overall 4 of 33
Sector: Business Services M&A 1 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 7
State: Massachusetts M&A 1 of 1
Country: United States M&A 4 of 33
Year: 2002 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-01 NTC Communications

Edinburgh, Virginia, United States

NTC high-speed Internet, Cable TV, Home Security and Telephone services keep students in colleges and universities throughout the southeast connected — to each other, to the world and even to home.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Marquee Cinemas

Beckley, West Virginia, United States

Marquee owns and operates movie theaters, primarily in the Southeastern and Mid-Atlantic United States.

Buy -
Buyer

Bariston Partners

Boston, Massachusetts, United States

Category Private Equity Firm
Founded 1997
Size Small
Type Sector Agnostic
DESCRIPTION

Bariston Partners LLC is a private investment group firm targets middle-market company buyouts alongside management teams. The Firm looks for opportunities valued between $20 and $100 million. Bariston seeks businesses where the firm has industry-specific expertise, and will assist management in improving business operations post acquisition. The Firm typically avoids companies with a high-level of technology risk. Bariston Partners was formed in 1997 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 3 of 5
Sector: Business Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 3 of 5
State: Massachusetts M&A 1 of 1
Country: United States M&A 3 of 5
Year: 2002 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-11-01 Coastal Security Systems

Boca Raton, Florida, United States

Coastal Security Systems, Inc. (Coastal), based in Boca Raton, Florida, is a leading provider of security alarm monitoring and related installation services in south Florida and third party monitoring services nationally. Coastal monitors over 145,000 accounts throughout the United States and its monitoring central station is one of the largest in Florida. The Company has achieved consistent and steady growth through high quality service and effective marketing. It has been under the same management for over twenty years.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-05-01 Moose River Media

St. Johnsbury, Vermont, United States

Moose River Media LLC is a publisher of six controlled circulation magazines servicing the turfgrass, landscaping and agricultural industries. The largest publication is Turf Magazine, a monthly publication with a circulation of 65,000. Moose River Media LLC was founded in 1987 and is based in St. Johnsbury, Vermont.

Buy -