M&A Deal Summary

Palladium Equity Partners and MoonSail Capital Acquire Health Connect America

On August 10, 2021, private equity firms Palladium Equity Partners and MoonSail Capital acquired healthcare services company Health Connect America from Harren Equity Partners

Acquisition Highlights
  • This is Palladium Equity Partners’ 2nd and MoonSail Capital’s 2nd transaction in the Healthcare Services sector.
  • This is Palladium Equity Partners’ 48th and MoonSail Capital’s 2nd transaction in the United States.
  • This is Palladium Equity Partners’ 1st and MoonSail Capital’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2021-08-10
Target Health Connect America
Sector Healthcare Services
Buyer(s) Palladium Equity Partners
MoonSail Capital
Sellers(s) Harren Equity Partners
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)
Proskauer Rose LLP (Legal)

Target

Health Connect America

Franklin, Tennessee, United States
Health Connect America provides mental and behavioral health services to children, families, and adults across multiple states. The company is honored to be a part of the communities it serves and walk alongside its clients as they embark on a journey to self-improvement and more fulfilling lives. Health Connect America provides its services in the community, in-home, or in one of the multiple offices across several states. Its network of direct care professionals is readily available to meet the needs of our clients and their families in our communities. Health Connect America is based in Franklin, Tennessee.

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Buyer(S) 2

Buyer

Palladium Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Palladium Equity Partners is a private equity firm that looks to invest in businesses focused on the US Hispanic marketplace. Target sectors include business services, financial services, consumer/retail, food/restaurants, healthcare, manufacturing, and media. Palladium's target investment size is $50 to $150 million with an EBITDA of $10 to $75 million. The Firm will consider investing in mature, stable businesses as well as younger companies and turnaround situations. Palladium was formed in 1997 and is based in New York City.

DEAL STATS #
Overall 49 of 52
Sector (Healthcare Services) 2 of 2
Type (Secondary Buyout) 8 of 9
State (Tennessee) 1 of 1
Country (United States) 48 of 51
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-22 Trachte

Oregon, Wisconsin, United States

Trachte is a provider of engineered buildings, hardware, and related solutions that house electrical controls, switchgear, and other advanced equipment and systems. Its products serve a broad base of customers including electrical utility, renewable energy companies, hospitals and data centers. The Company’s design engineering, project management and related value-added services and reputation for quality make it the provider of choice for leading utilities and equipment OEMs. Trachte was founded in 1919 and is based in Oregon, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-26 Second Nature Brands

Madison Heights, Michigan, United States

Second Nature Brands is a creator of snacks and treats that make lives better, naturally. By investing in new product development, thoughtful ingredient sourcing, and innovative business processes, Second Nature Brands is reimagining premium and better-for-you snacks and treats. Under its growing family of brands, Kar's Nuts, Second Nature Snacks, and Sanders Chocolates, Second Nature Brands has an extensive distribution network across the United States and a growing direct-to-consumer eCommerce presence. Second Nature Brands is based in Madison Heights, Michigan.

Sell -
Buyer

MoonSail Capital

Investor Investor

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

MoonSail Capital is a private equity firm focused on providing equity and/or debt capital to lower middle-market companies ($5 to $100 million of revenue) throughout the US and Puerto Rico. The Firm has no stated sector preferences, but prefers capital light businesses with add-on possibilities and predictable revenue streams. MoonSail Capital was formed in 2017 and is based in Los Angeles, California.

DEAL STATS #
Overall 2 of 5
Sector (Healthcare Services) 2 of 3
Type (Secondary Buyout) 1 of 3
State (Tennessee) 1 of 1
Country (United States) 2 of 5
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-27 Ocular Partners

Chicago, Illinois, United States

Ocular Partners is an operator of clinically and surgically-focused eyecare services in the Midwest that provides best-in-class vision care services in the greater Chicago area, with more than 20 providers in nine locations, and 10 specialties including cataract, cornea, refractive, anterior segment, glaucoma, surgical and medical retina, oculoplastics (eyelid, tear duct, orbital and cosmetic), comprehensive ophthalmology and optometry. Ocular Partners was founded in 2020 and is based in Chicago, Illinois.

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

Philadelphia, Pennsylvania, United States

Homestead creates transparent and sustainable health plans and put the power back in the hands of the employer. The company's plans are built on a proprietary reference-based repricing system and include stop-loss insurance protection against catastrophic losses as well as third-party administration. Homestead was founded in 2015 and is based in Philadelphia, Pennsylvania.

Buy -

Seller(S) 1

SELLER

Harren Equity Partners

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 450M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Harren Equity Partners LLC is an East Coast US-based private equity firm focused on mid-sized acquisitions, recapitalizations and growth capital financings. Harren is a generalist firm and will consider companies in a broad range of industries, including aerospace/defense, automotive, business services, building materials, energy services, furniture, industrial machinery, medical products, natural resources, healthcare services, restaurants, retail, and recycling. Prospective companies typically have sales of $30 to $300 million, EBITDA of $7 to $30 million, and are located in North America. Harren prefers businesses with defensible markets positions, proven management, and strong growth potential. Harren Equity Partners LLC was formed in 2000 and is based in Charlottesville, Virginia.

DEAL STATS #
Overall 20 of 23
Sector (Healthcare Services) 2 of 2
Type (Secondary Buyout) 7 of 8
State (Tennessee) 1 of 1
Country (United States) 20 of 23
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Alliance Ground International

Miami, Florida, United States

Alliance Ground International is a North American provider of specialized air cargo and ramp handling services to the aviation industry. The company provides on-airport handling, warehousing, cold storage, pallet buildup/breakdown, mail sorting, and aircraft loading and unloading services to over 80 air carrier customers from its strategic operating footprint of 33 facilities at 21 airports across the United States. Alliance Ground International is headquartered in Miami, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 A&A Transfer

Chantilly, Virginia, United States

A&A Transfer provides rigging and lifts solutions to a diverse client base, complete with logistics management, handling, storage, and transportation services for heavy capital assets. It has expanded to provide comprehensive supply chain and lift solutions to data center operators focused in the prolific Northern Virginia data center market. A&A Transfer was formed in 1965 and is based in Chantilly, Virginia.

Sell -
Mergr

Product

Company

Legal