M&A Deal Summary

MSouth Equity Partners and Audax Private Debt Acquire Summit Spine & Joint Centers

On June 14, 2021, private equity firm MSouth Equity Partners and mezzanine finance firm Audax Private Debt acquired healthcare services company Summit Spine & Joint Centers from Fulcrum Equity Partners

Acquisition Highlights
  • This is MSouth Equity Partners’ 4th and Audax Private Debt’s 3rd transaction in the Healthcare Services sector.
  • This is MSouth Equity Partners’ 36th and Audax Private Debt’s 54th transaction in the United States.
  • This is MSouth Equity Partners’ 18th and Audax Private Debt’s 2nd transaction in Georgia.

M&A Deal Summary

Date 2021-06-14
Target Summit Spine & Joint Centers
Sector Healthcare Services
Buyer(s) MSouth Equity Partners
Audax Private Debt
Sellers(s) Fulcrum Equity Partners
Deal Type Secondary Buyout

Target

Summit Spine & Joint Centers

Lawrenceville, Georgia, United States
Summit Spine & Joint Centers operates ambulatory surgery centers and pain management clinics in the greater Atlanta area. Summit provides interventional pain management treatment to patients who suffer from chronic pain symptoms. Summit Spine & Joint Centers was founded in 2014 and is based in Lawrenceville, Georgia.

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Buyer(S) 2

Buyer

MSouth Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

MSouth Equity Partners is a private equity firm focused on mid-sized company investments and acquisitions valued between $25 and $250 million. The Firm prefers opportunities in Southern US and looks to commit $25 to $100 million per transaction. Sectors of interest include distribution, business services, media, telecom, and specialty manufacturing. MSouth is the successor to private equity firm, Cravey, Green & Wahlen, Inc. which was founded in 1984. MSouth Equity Partners is based in Atlanta, Georgia.


DEAL STATS #
Overall 36 of 42
Sector (Healthcare Services) 4 of 4
Type (Secondary Buyout) 9 of 10
State (Georgia) 18 of 18
Country (United States) 36 of 42
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-19 Children & Teen Dental

Suwanee, Georgia, United States

Children & Teen Dental Group provides dental support organization services to pediatric dental and orthodontic offices in attractive east coast markets. The Company currently provides services to five practices in Georgia (Cumming, Suwanee, Acworth, Powder Springs, and Marietta) and one practice in Lakeland, Florida. Children & Teen Dental is based in Suwanee, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Tachyon

Roswell, Georgia, United States

Tachyon provides design, construction, optimization, and maintenance services for owners and operators of fiber and wireless network infrastructure. The Company's principal service markets include the Southeastern and Southwestern United States, with targeted customer programs in other regions. Tachyon was founded in 2007 and is based in Roswell, Georgia.

Sell -
Buyer

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies valued between $10 and $60 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations.


DEAL STATS #
Overall 56 of 67
Sector (Healthcare Services) 3 of 4
Type (Secondary Buyout) 24 of 29
State (Georgia) 2 of 2
Country (United States) 54 of 65
Year (2021) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-26 JJ s Bakery

Erie, Pennsylvania, United States

JJ's Bakery is a manufacturer of handheld snack pies. JTM sells its JJ’s Bakery branded snack pies and private-label snack pies to grocery, convenience, value, dollar, and mass retailers. JJ's Bakery was founded in 1986 and is based in Erie, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-30 RailWorks

New York, New York, United States

RailWorks provides track construction, electrical systems construction, maintenance services, and products throughout the United States and Canada for major transit authorities, Class I and short-line railroads, and rail-served commercial and industrial companies. Trusted RailWorks brands include L.K. Comstock Inc., PNR RailWorks, NARSTCO, and HSQ Technology. RailWorks was formed in 1998 and is based in New York, New York.

Sell -

Seller(S) 1

SELLER

Fulcrum Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Fulcrum Equity Partners is an investment firm focused on smaller growth companies in the Southeast US. Fulcrum looks to invest $5 to $35 million in businesses generating $3 to $50 million in annual sales. Funds are used to support growth initiatives, acquisitions, divestures, shareholder liquidity, management buyouts and recapitalizations. Sectors of interest include healthcare, IT, business services, and technology-enabled services. Fulcrum Equity Partners is based in Atlanta, Georgia.


DEAL STATS #
Overall 17 of 21
Sector (Healthcare Services) 3 of 4
Type (Secondary Buyout) 4 of 4
State (Georgia) 11 of 13
Country (United States) 17 of 21
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-21 Maxio

Peachtree Corners, Georgia, United States

Maxio is a subscription management platform that automates financial operations for growing B2B SaaS businesses. A cloud-based solution, the SaaSOptics platform allows businesses to pull accurate SaaS metrics and analytics quickly, scale billing and payments smoothly and automate GAAP/IFRS-compliant revenue recognition. Maxio was founded in 2009 and is based in Peachtree Corners, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-08 Full Measure

Washington, District of Columbia, United States

Full Measure Education powers personalized mobile experiences at over 300 institutions across the country. The Full Measure platform was built as a solution for schools to ensure that the steps are clear and the path is ready for students to change their lives through higher education. Full Measure was founded in 2013 and is based in Washington, District of Columbia.

Buy -