M&A Deal Summary

Sverica and Cadiz Capital Acquire Med First Primary & Urgent Care

On August 9, 2016, growth capital firm Sverica and private equity firm Cadiz Capital acquired healthcare services company Med First Primary & Urgent Care

Acquisition Highlights
  • This is Sverica’s 4th and Cadiz Capital’s 1st transaction in the Healthcare Services sector.
  • This is Sverica’s 22nd and Cadiz Capital’s 1st transaction in the United States.
  • This is Sverica’s 1st and Cadiz Capital’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2016-08-09
Target Med First Primary & Urgent Care
Sector Healthcare Services
Buyer(s) Sverica
Cadiz Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Med First Primary & Urgent Care

Jacksonville, North Carolina, United States
Med First Primary & Urgent Care operates healthcare clinics across North Carolina and South Carolina. The company focuses on rural communities with a hybrid model that provides both primary and urgent care. Med First Primary & Urgent Care is based in Jacksonville, North Carolina.

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Buyer(S) 2

Buyer

Sverica

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2001
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sverica Capital Management is a private equity firm that invests in stable or growing, smaller companies with valued less than $250 million. Sverica looks to commit $25 to $75 million per transaction and primarily targets buyout or divestiture situations and avoids businesses in need of restructuring. Broad areas of interest include IT, business services, healthcare, light manufacturing, and industrials. The Firm generally seeks majority control investments, but will also selectively consider minority situations. Sverica Capital Management was formed in 2001 and has offices in Boston and San Francisco.


DEAL STATS #
Overall 25 of 47
Sector: Healthcare Services M&A 4 of 7
Type: Buyout (LBO, MBO, MBI) M&A Deals 13 of 17
State: North Carolina M&A 1 of 1
Country: United States M&A 22 of 43
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-08 The Bartech Group

Southfield, Michigan, United States

The Bartech Group, Inc. is a professional services firm that delivers global workforce management and staff augmentation solutions to Fortune 1000 companies and other large users of non-employee labor.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-25 Inpatient Medical Services

Fairlawn, Ohio, United States

Inpatient Medical Services, Inc. is a provider of outsourced hospitalist and post-acute care physician programs to acute care facilities and skilled nursing facilities in Ohio, Indiana and Kentucky. IMS serves over 150,000 patients annually and has built a premier reputation with community physicians who rely on IMS as its inpatient service partner. The Company’s quality and value proposition is validated by its long-term relationship with some of the top healthcare systems in the region and nationally.

Sell -
DESCRIPTION

Cadiz Capital is a private equity firm focused on partnering with proven management teams to acquire or invest in energy, manufacturing, healthcare, and information technology companies valued between $250 million and $1 billion. The Firm prefers profitable businesses with at least $25 million of EBITDA and will consider opportunities throughout North America. Cadiz Capital is headquartered in Atlanta, Georgia.


DEAL STATS #
Overall 1 of 1
Sector: Healthcare Services M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
State: North Carolina M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2016 M&A 1 of 1