Investment Summary

Lovett Miller & Co. and H.I.G. Private Equity Exits RxStrategies

On September 24, 2019, private equity firm Renovus Capital invested in healthcare services company RxStrategies from Lovett Miller & Co. and H.I.G. Private Equity

Investment Highlights
  • This is Renovus Capital’s 1st transaction in the Healthcare Services sector.
  • This is Renovus Capital’s 20th transaction in the United States.
  • This is Renovus Capital’s 2nd transaction in Florida.

Investment Summary

Date 2019-09-24
Target RxStrategies
Sector Healthcare Services
Investor(s) Renovus Capital
Sellers(s) Lovett Miller & Co.
H.I.G. Private Equity
Deal Type Secondary Buyout

Target

RxStrategies

Boca Raton, Florida, United States
RxStrategies provides the federally qualified community health centers (FQHC), other qualified entities and the pharmacy partners with a full turn-key solution for the implementation and on-going management of the 340B discount prescription drug program. RxStrategies was founded in 2003 and is based in Boca Raton, Florida.

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Investor(S) 1

Investor

Renovus Capital

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 1.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Renovus Capital is a private equity firm focused on investing in small to mid-sized education companies. Specific areas of interest include for-profit colleges and schools, training companies, content providers, and technology and services businesses to education providers. Renovus looks for companies with 'strong growth prospects', proven business models and EBITDA of at least $3 million. Renovus Capital was formed in 2010 and is based in Wayne, Pennsylvania.


DEAL STATS #
Overall 21 of 43
Sector: Healthcare Services M&A 1 of 2
Type: Secondary Buyout M&A Deals 2 of 5
State: Florida M&A 2 of 2
Country: United States M&A 20 of 42
Year: 2019 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-09 Resultant

Indianapolis, Indiana, United States

Resultant is a technology, data, and management consulting firm. Resultant works in both the public and private sectors across all industries to help clients fulfill their missions, meet their goals, and solve their toughest challenges. Resultant was founded in 2008 and is based in Indianapolis, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-16 TNG

King of Prussia, Pennsylvania, United States

TNG offers certification and training courses to colleges and universities to comply with Title IX and other student safety programs. It also manages the corresponding professional associations. TNG was founded in 2000 and is based in King of Prussia, Pennsylvania.

Buy -

Seller(S) 2

SELLER

Lovett Miller & Co.

Neptune Beach, Florida, United States

Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 175M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Lovett Miller & Co. is a private equity firm that provides growth and shareholder liquidity capital to high-growth privately held companies located in the Southeast US and Texas. Lovett Miller looks for businesses generating sales of $1 to $50 million and can commit up to $15 million per transaction. Areas of interest include technology products and services, healthcare services and devices, business services, consumer and retail, and financial services. The Firm prefers minority positions. Lovett Miller is based in Jacksonville, Florida with an additional office in Tampa.


DEAL STATS #
Overall 17 of 17
Sector: Healthcare Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 1 of 1
State: Florida M&A 4 of 4
Country: United States M&A 17 of 17
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-02 Florida Bank Group

Tampa, Florida, United States

Florida Bank Group is a provider of a retail and commercial banking services.

Sell $90M
SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


DEAL STATS #
Overall 114 of 181
Sector: Healthcare Services M&A 7 of 10
Type: Secondary Buyout M&A Deals 43 of 75
State: Florida M&A 13 of 20
Country: United States M&A 86 of 124
Year: 2019 M&A 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-10 BioVectra

Charlottetown, Prince Edward Island, Canada

BioVectra is a provider of contract manufacturing services to the global pharmaceutical and biotechnology industry and manufactures active pharmaceutical ingredients (API's), chemical intermediates, and bioprocessing reagents. BioVectra was founded in 1970 and is based in Charlottetown, Prince Edward Island.

Buy $250M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-02 Circle Graphics

Longmont, Colorado, United States

Circle Graphics is a large-format digital printing company, specializing in billboard prints for the US market. The Company focuses on the outdoor advertising market and provides both paper and vinyl billboard prints to the largest outdoor media companies in the nation. Circle Graphics was founded in 1999 and is based in Longmont, Colorado.

Buy -