M&A Deal Summary

CorroHealth Acquires Aergo Solutions

On May 25, 2022, CorroHealth acquired business services company Aergo Solutions from Northstar Capital

Acquisition Highlights
  • This is CorroHealth’s 6th transaction in the Business Services sector.
  • This is CorroHealth’s 6th transaction in the United States.
  • This is CorroHealth’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2022-05-25
Target Aergo Solutions
Sector Business Services
Buyer(s) CorroHealth
Sellers(s) Northstar Capital
Deal Type Add-on Acquisition
Advisor(s) Cain Brothers & Co. (Financial)

Target

Aergo Solutions

Iselin, New Jersey, United States
Aergo Solutions is a provider of receivables collection for healthcare companies from third-party payers. Aergo solves revenue cycle challenges through a customized mix of services, technology, and consulting. Aergo Solutions is based in Iselin, New Jersey.

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Buyer(S) 1

Buyer

CorroHealth

Plano, Texas, United States

Category Company
Founded 2020
Sector Business Services
DESCRIPTION

CorroHealth is a provider of clinically led healthcare analytics and technology-driven solutions, dedicated to positively impacting the financial performance of physicians, hospitals, and health plans. CorroHealth was founded in 2020 and is based in Plano, Texas.


DEAL STATS #
Overall 7 of 8
Sector: Business Services M&A 6 of 6
Type: Add-on Acquisition M&A Deals 3 of 3
State: New Jersey M&A 1 of 1
Country: United States M&A 6 of 7
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-18 ParaRev

Elgin, Illinois, United States

ParaRev offers healthcare revenue cycle management services, from front-end charge master analysis and contract management to end-of-cycle zero-balance underpayment and denial recovery. ParaRev is based in Elgin, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-13 Navient - Healthcare Services Business

Hendersonville, Tennessee, United States

Navient's Healthcare Services Business provides healthcare services.

Buy $365M

Seller(S) 1

SELLER

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 72 of 82
Sector: Business Services M&A 9 of 10
Type: Add-on Acquisition M&A Deals 26 of 29
State: New Jersey M&A 2 of 2
Country: United States M&A 69 of 78
Year: 2022 M&A 7 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-01 Meca & Technology Machine

Green Bay, Wisconsin, United States

Meca & Technology Machine is a manufacturer and engineering provider of tight tolerance machined components, such as carbon fiber, steel, stainless steel, and aluminum cylinders, gears, composite flexographic plate and bridge sleeves, aluminum and carbon fiber anilox sleeves, and mechanically engraved cylinders for the industrial, packaging, flexographic printing, coating and converting industries. Meca & Technology Machine was founded in 1983 and is based in Green Bay, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-07 All Surfaces

Bloomington, Minnesota, United States

All Surfaces is a specialty distributor of flooring, flooring sundries, and carpet pad. All Surfaces has over 40 branch locations in 16 states throughout the Midwest and Plains. The company serves a diverse customer base of builders, remodelers, contractors, and installers with a leading selection of top flooring and flooring sundries vendors. All Surfaces is based in Bloomington, Minnesota.

Buy -