M&A Deal Summary

Iron Path Capital Acquires Capitol Pain Institute

On June 27, 2022, private equity firm Iron Path Capital acquired healthcare services company Capitol Pain Institute from New State Capital Partners

Acquisition Highlights
  • This is Iron Path Capital’s 3rd transaction in the Healthcare Services sector.
  • This is Iron Path Capital’s 3rd transaction in the United States.
  • This is Iron Path Capital’s 2nd transaction in Texas.

M&A Deal Summary

Date 2022-06-27
Target Capitol Pain Institute
Sector Healthcare Services
Buyer(s) Iron Path Capital
Sellers(s) New State Capital Partners
Deal Type Recapitalization

Target

Capitol Pain Institute

Austin, Texas, United States
Capitol Pain Institute is a provider of safe and effective treatment modalities tailored to the specific needs of each patient. Key services include spinal cord stimulation, pain management injections, and medication management. Capitol Pain Institute was founded in 2007 and is based in Austin, Texas.

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Buyer(S) 1

DESCRIPTION

Iron Path Capital is a private equity firm focused on investing in growth-oriented middle-market companies in the healthcare and industrials sectors. The Firm seeks profitable ($5 to $15 million of EBITDA) businesses with recurring revenue, scalable business models, and strong management already in place. Iron Path Capital was formed in 2021 and is headquartered in Nashville, Tennessee.


DEAL STATS #
Overall 3 of 4
Sector (Healthcare Services) 3 of 3
Type (Recapitalization) 1 of 1
State (Texas) 2 of 2
Country (United States) 3 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-18 Versant Diagnostics

Grapevine, Texas, United States

Versant Diagnostics is a physician services company focused on anatomic pathology, precision medicine, and the digital transformation of the industry. Its areas of focus include urology, dermatology, women’s health, gastroenterology, and hematology. Versant was formed in 2021 and is based in Grapevine, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-05 TruTech Servo Motors & Systems

Brooklyn Center, Minnesota, United States

TruTech Servo Motors & Systems specializes in custom and semi-custom solutions used in high-performance applications in the automation, material handling, and medical end markets. TruTech Servo Motors & Systems was founded in 2010 and is based in Brooklyn Center, Minnesota.

Buy -

Seller(S) 1

SELLER

New State Capital Partners

Larchmont, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2014
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

New State Capital Partners is a private investment group focused on middle-market opportunities in the business services, healthcare and industrial sectors. The Firm will consider both majority and minority investments in funding a variety of situations. New State can invest up to $100 million in transactions valued up to $250 million. The Firm was formed in 2013 and is based in New York City.


DEAL STATS #
Overall 2 of 4
Sector (Healthcare Services) 1 of 1
Type (Recapitalization) 1 of 1
State (Texas) 1 of 1
Country (United States) 2 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-26 Patuxent

Millersville, Maryland, United States

Patuxent is an independent provider of roofing installation, waterproofing, and related services. The company primarily focuses on re-roofing services for government, institutional, industrial, and multi-family end markets located in the Mid-Atlantic region of the United States. Patuxent was formed in 2008 and is based in Millersville, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-24 Afimac

Guelph, Ontario, Canada

Afimac offers staffing, emergency response, security, risk management, and other business continuity services to image-conscious companies across North America. It offers an assortment of human capital solutions, pre-crisis contingency planning, and premium security and emergency response services to businesses representing nearly every industry. Afimac is based in Guelph, Ontario.

Buy -