M&A Deal Summary

Renovus Capital Acquires Meridian Programs

On October 1, 2023, private equity firm Renovus Capital acquired healthcare services company Meridian Programs from Audax Private Equity

Acquisition Highlights
  • This is Renovus Capital’s 2nd transaction in the Healthcare Services sector.
  • This is Renovus Capital’s 36th transaction in the United States.
  • This is Renovus Capital’s 2nd transaction in Minnesota.

M&A Deal Summary

Date 2023-10-01
Target Meridian Programs
Sector Healthcare Services
Buyer(s) Renovus Capital
Sellers(s) Audax Private Equity
Deal Type Secondary Buyout

Target

Meridian Programs

New Brighton, Minnesota, United States
Meridian Programs is a provider of addiction treatment services at residential and outpatient facilities. Meridian Programs is based in New Brighton, Minnesota.

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Buyer(S) 1

Buyer

Renovus Capital

Wayne, Pennsylvania, United States

Investor Investor Investor Investor Investor


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

Renovus Capital is a private equity firm focused on investing in small to mid-sized education companies. Specific areas of interest include for-profit colleges and schools, training companies, content providers, and technology and services businesses to education providers. Renovus looks for companies with 'strong growth prospects', proven business models and EBITDA of at least $3 million. Renovus Capital was formed in 2010 and is based in Wayne, Pennsylvania.


DEAL STATS #
Overall 37 of 42
Sector (Healthcare Services) 2 of 2
Type (Secondary Buyout) 5 of 5
State (Minnesota) 2 of 2
Country (United States) 36 of 41
Year (2023) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-01 Cooperative Strategies

Irvine, California, United States

Cooperative Strategies is a provider of consulting services to K-12 schools with a focus on school facility planning and funding. Cooperative Strategies is based in Irvine, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-23 InflowCX

Beaverton, Oregon, United States

InflowCX is an innovative provider of strategic advisory, consulting, and managed services for contact centers, customer experience, and unified communications solutions to over 1,000 customers nationwide. The company has grown to be a trusted advisor in its market through the high caliber of its work, problem-solving approach, and focus on client satisfaction. InflowCX was founded in 1997 and is based in Beaverton, Oregon.

Sell -

Seller(S) 1

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 96 of 102
Sector (Healthcare Services) 10 of 11
Type (Secondary Buyout) 54 of 55
State (Minnesota) 4 of 4
Country (United States) 91 of 97
Year (2023) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-26 Oakbridge

Atlanta, Georgia, United States

Oakbridge is an independent insurance and risk management agency, focused on commercial P&C, employee benefits, surety, personal P&C, and risk management services. Oakbridge is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-13 Peak Toolworks

Jasper, Indiana, United States

Peak Toolworks manufactures and provides service for state-of-the-art multifaceted carbide and diamond tipped cutters to the woodworking, building materials, and metal sawing industry. Peak Toolworks was founded in 1941 and is based in Jasper, Indiana.

Sell -