M&A Deal Summary

NexPhase Capital Acquires Receivables Management Partners

On March 2, 2017, private equity firm NexPhase Capital acquired business services company Receivables Management Partners from Thompson Street Capital Partners and Northstar Capital

Acquisition Highlights
  • This is NexPhase Capital’s 1st transaction in the Business Services sector.
  • This is NexPhase Capital’s 25th transaction in the United States.
  • This is NexPhase Capital’s 1st transaction in Indiana.

M&A Deal Summary

Date 2017-03-02
Target Receivables Management Partners
Sector Business Services
Buyer(s) NexPhase Capital
Sellers(s) Thompson Street Capital Partners
Northstar Capital
Deal Type Secondary Buyout

Target

Receivables Management Partners

Greensburg, Indiana, United States
Receivables Management Partners is a licensed and bonded accounts receivable management company. The Company specializes in the healthcare space, collecting on a first-party and third-party basis for leading hospitals and physician groups throughout the Midwest. Receivables Management Partners is based in Greensburg, Indiana.

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Buyer(S) 1

Buyer

NexPhase Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Moelis Capital Partners (MCP) is the private equity investment arm of investment bank Moelis & Company. MCP targets growth equity and control buyouts requiring equity investments of $25 to $75 million. Moelis has particular interest in the business services, consumer and retail, financial services, healthcare services, industrial and telecom industries. Moelis Capital Partners was formed in 2007 and is based in New York City.


DEAL STATS #
Overall 26 of 42
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 8 of 10
State (Indiana) 1 of 2
Country (United States) 25 of 40
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-02 MedA/Rx

Charlotte, North Carolina, United States

MedA/Rx is a provider of revenue cycle management for the healthcare financial professional. MedA/Rx combines the power of a state-of-the-art accounts receivable management firm with sophisticated healthcare financial consulting team. MedA/Rx was formed in 1988 and is based in Brisbane, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-12 SwipeClock

South Jordan, Utah, United States

SwipeClock provides cloud‐based integrated workforce management software solutions that include automated time and attendance and advanced scheduling. SwipeClock was founded in 1999 and is based in South Jordan, Utah.

Sell -

Seller(S) 2

SELLER

Thompson Street Capital Partners

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Thompson Street Capital Partners is a private equity firm that targets control stakes in profitable, mid-sized North American companies with $5 to $20 million of EBITDA. Thompson Street looks for family businesses, private companies seeking liquidity, corporate divestitures, and public companies going private. Areas of interest include healthcare services, business services, electronics, information technology, and engineered products companies. Thompson Street will not consider investments in start-ups, early stage companies, or real estate. Thompson Street Capital was founded in 2000 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 21 of 47
Sector (Business Services) 1 of 3
Type (Secondary Buyout) 8 of 17
State (Indiana) 2 of 3
Country (United States) 21 of 47
Year (2017) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-09 Revenue Management Solutions

Oklahoma City, Oklahoma, United States

Revenue Management Solutions is a provider of processes that facilitate the timely matching, posting and reconciliation of health care payments to underlying claims or other correspondence. Revenue Management Solutions was founded in 2006 and is based in Oklahoma City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-25 EchoSat

Lexington, Kentucky, United States

EchoSat, Inc. provides payment security, managed firewall and network solutions for retail outlets in many vertical markets, as well as managed network and firewall services to protect point-of-sale systems from security breaches. EchoSat is a Level 1 compliant PCI-DSS Service Provider and has developed a powerful set of PCI-DSS compliant data security and network control systems designed to ensure critical data is protected and reliably delivered. These products are geographically redundant to maximize availability. EchoSat was formed in 1973 and is based in Lexington, Kentucky.

Sell -
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 39 of 80
Sector (Business Services) 4 of 10
Type (Secondary Buyout) 14 of 26
State (Indiana) 2 of 2
Country (United States) 38 of 76
Year (2017) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-09 Revenue Management Solutions

Oklahoma City, Oklahoma, United States

Revenue Management Solutions is a provider of processes that facilitate the timely matching, posting and reconciliation of health care payments to underlying claims or other correspondence. Revenue Management Solutions was founded in 2006 and is based in Oklahoma City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-01 Indo-European Foods

Commerce, California, United States

Indo-European Foods is an importer and national wholesale distributor of high quality specialty food products. Indo-European Foods was founded in 1966 and is based in Commerce, California.

Sell -