Investment Summary

New Harbor Capital and Deerpath Capital Management Invest In Ocean State Urgent Care

On November 17, 2017, private equity firm New Harbor Capital and lender Deerpath Capital Management invested in healthcare services company Ocean State Urgent Care

Investment Highlights
  • This is New Harbor Capital’s 5th and Deerpath Capital Management’s 3rd transaction in the Healthcare Services sector.
  • This is New Harbor Capital’s 10th and Deerpath Capital Management’s 9th transaction in the United States.
  • This is New Harbor Capital’s 1st and Deerpath Capital Management’s 1st transaction in Rhode Island.
Investment Fate
  • Ocean State Urgent Care was sold to a strategic buyer in 2021.

Investment Summary

Date 2017-11-17
Target Ocean State Urgent Care
Sector Healthcare Services
Investor(s) New Harbor Capital
Deerpath Capital Management
Deal Type Growth Capital

Target

Ocean State Urgent Care

Cumberland, Rhode Island, United States
Ocean State Urgent Care is an independent provider of urgent care, primary care, and related healthcare services in Rhode Island. The Company treats over 200,000 patients annually through a network of 60 physicians and mid-level providers across 20 locations. Ocean State Urgent Care was founded in 2013 and is based in Cumberland, Rhode Island.

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Investor(S) 2

Investor
DESCRIPTION

New Harbor Capital is a lower middle-market private equity firm focused on investing in and acquiring profitable, growth-oriented companies. New Harbor seeks opportunities in the healthcare services, education, and business services sectors and looks to invest $10 to $40 million per transaction. The Firm prefers control investment situations and typically looks to fund growth capital financings, management buyouts, and recapitalizations. New Harbor Capital was established in 2013 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 10 of 22
Sector: Healthcare Services M&A 5 of 7
Type: Growth Capital M&A Deals 1 of 6
State: Rhode Island M&A 1 of 1
Country: United States M&A 10 of 22
Year: 2017 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-08 Wedgewood Pharmacy

Swedesboro, New Jersey, United States

Wedgewood Pharmacy is a pharmacy specializing in animal health, addiction medicine, and urology. Wedgewood has a broad and diverse portfolio of offerings, leading to low customer and stock concentration; holds strategic partnerships with veterinary corporate groups; and offers a defined value proposition to veterinary clinics and pet owners. Wedgewood Pharmacy was founded in 1980 and is based in Swedesboro, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-20 LGM Pharma

Boca Raton, Florida, United States

LGM Pharma specializes in streamlining the API supply chain throughout all development stages while providing complete technical capabilities and expert regulatory support for a wide range of products. LGM Pharma was founded in 2005 and is based in Boca Raton, Florida.

Buy -
Investor

Deerpath Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 2007
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Deerpath Capital Management, LP makes privately negotiated investments in the debt and equity of lower middle market companies. Deerpath prefers to invest in senior secured loans, but will consider other forms of investment on an opportunistic basis. Prospective companies typically have revenues of $10 to $200 million and EBITDA of $3 to $15 million. The Firm looks to commit $15 to $50 million per transaction. Target sectors include communications, energy/natural resources, healthcare, services, and manufacturing. Deerpath was established in 2007 and is based in New York City and office in Fort Lauderdale, Florida and Houston, Texas.


DEAL STATS #
Overall 9 of 12
Sector: Healthcare Services M&A 3 of 3
Type: Growth Capital M&A Deals 1 of 2
State: Rhode Island M&A 1 of 1
Country: United States M&A 9 of 12
Year: 2017 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-03 Alsana

Thousand Oaks, California, United States

Alsana provides residential treatment, partial hospitalization, and intensive outpatient for eating disorders and co-occurring mental health issues such as anxiety, trauma, chemical dependency, and depression. Alsana is based in Thousand Oaks, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-19 AWP Windows & Doors

Medley, Florida, United States

AWP Windows & Doors is a manufacturer of aluminum and vinyl windows and doors for the residential and light commercial market. The company offers both impact and non-impact products and sells its products through a professional network of dealers and distributors. AWP Windows & Doors is based in Medley, Florida.

Sell -