Recapitalization • Staffing

NMS Capital and Crescent Capital Group Acquire GrapeTree Medical Staffing

On October 23, 2017, private equity firm NMS Capital and mezzanine finance firm Crescent Capital Group acquired staffing company GrapeTree Medical Staffing

Acquisition Context
  • This is NMS Capital’s 2nd and Crescent Capital Group’s 2nd transaction in the Staffing sector.
  • This is NMS Capital’s 9th and Crescent Capital Group’s 49th transaction in the United States.
  • This is NMS Capital’s 1st and Crescent Capital Group’s 2nd transaction in Iowa.

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M&A Deal Summary

Date October 23, 2017
Target GrapeTree Medical Staffing
Sector Staffing
Buyer(s) NMS Capital
Crescent Capital Group
Deal Type Recapitalization
Advisor(s) Provident Healthcare Partners (Financial)
Nyemaster Goode (Legal)

Target Company

GrapeTree Medical Staffing

Milford, Iowa, United States
GrapeTree Medical Staffing is a healthcare staffing agency that provides staffing solutions to healthcare facilities across the Midwest by providing healthcare professionals to fill last-minute or long-term shifts left by staffing shortages. GrapeTree Medical Staffing was founded in 1999 and is based in Milford, Iowa.
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Buyers Overview 2

Buyer

NMS Capital

New York, New York, United States

Investor Investor Investor Investor Investor


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

NMS Capital is a private investment firm that specializes in strategic equity investments and leveraged buyouts. The Firm targets middle-market growth companies throughout the US. New Mainstream focuses on companies with experienced management, high operating margins, and strong cash flows. NMS Capital looks to invest $25 to $75 million in companies valued up to $150 million. The Firm will consider opportunities in a variety of sectors, however the Firm has a special interest in healthcare services, consumer products/services, and specialized business services. NMS Capital was formed in 2010 and is based in New York, New York.


Deal Context for Buyer #
Overall 10 of 27
Sector: Staffing 2 of 2
Type: Recapitalization 2 of 15
State: Iowa 1 of 1
Country: United States 9 of 26
Year: 2017 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-06 Omni Ophthalmic Management Consultants

Iselin, New Jersey, United States

Omni Ophthalmic Management Consultants is an optometric referral practice providing a full range of specialty services for the advanced treatment of eye diseases. Omni Ophthalmic Management Consultants is based in Iselin, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 U.S. Foot & Ankle Specialists

Rockville, Maryland, United States

U.S. Foot & Ankle Specialists is a provider of podiatric services providing a full range of specialty services for the advanced treatment of foot and lower extremity conditions. U.S. Foot & Ankle Specialists was founded in 2011 and is based in Rockville, Maryland.

Buy -
Buyer

Crescent Capital Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1991
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crescent Capital is a provider of debt securities to middle-market companies. Crescent looks to issue senior bank loans, high yield bonds, mezzanine debt and distressed debt to fund a variety of needs. The FIrm's direct lending group looks to provide $10 to $30 million to sponsor-backed companies that generate $5 to $40 million of EBITDA. Crescent's mezzanine practice typically provides junior capital to support buyouts, recapitalizations, and refinancings. Crescent Capital was formed in 1991 and was originally known as TCW/Crescent Mezzanine. The Firm has offices in Los Angeles, Boston, New York, and London.


Deal Context for Buyer #
Overall 55 of 67
Sector: Staffing 2 of 2
Type: Recapitalization 3 of 3
State: Iowa 2 of 2
Country: United States 49 of 54
Year: 2017 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-15 ProDriven Global Brands

Itasca, Illinois, United States

ProDriven Global Brands is a fully-integrated, international manufacturer and distributor of access products, fall protection equipment, secure storage systems and light duty construction equipment. Its portfolio of brands include Werner, KNAACK®, WEATHER GUARD®, Youngman®, BoSS®, Centaure, Duarib, Haemmerlin and Bailey. ProDriven Global Brands is based in Itasca, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-15 Motorsport Aftermarket Group

Coppell, Texas, United States

Motorsport Aftermarket Group is a distributor and manufacturer of branded aftermarket products for the powersports industry in North America. MAG provides dealers, e-commerce sites and their enthusiast end-users with parts, accessories and apparel for motorcycles, ATVs and UTVs. The Company’s brands include Vance & Hines, Kuryakyn, Performance Machine, QuadBoss, DragonFire and ProTaper. Motorsport Aftermarket Group was formed in 2000 and is based in Coppell, Texas.

Sell $300M