M&A Deal Summary

Riverside Partners, GrowthCurve Capital and LLR Partners Acquire Revecore

On February 14, 2017, private equity firms Riverside Partners, GrowthCurve Capital and LLR Partners acquired business services company Revecore

Acquisition Highlights
  • This is Riverside Partners’ 2nd, GrowthCurve Capital’s 1st and LLR Partners’ 8th transaction in the Business Services sector.
  • This is Riverside Partners’ 33rd, GrowthCurve Capital’s 1st and LLR Partners’ 74th transaction in the United States.
  • This is Riverside Partners’ 2nd, GrowthCurve Capital’s 1st and LLR Partners’ 3rd transaction in Tennessee.

M&A Deal Summary

Date 2017-02-14
Target Revecore
Sector Business Services
Buyer(s) Riverside Partners
GrowthCurve Capital
LLR Partners
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Houlihan Lokey (Financial)
Sherrard Roe Voigt & Harbison (Legal)

Target

Revecore

Franklin, Tennessee, United States
Revecore is a provider of specialty reimbursement solutions that identify and recover additional revenue for hospitals and health systems nationwide. Revecore's AcciClaim solution, led by the industry's leading team of specialized attorneys, revenue cycle experts and account resolution specialists, delivers improved revenue, increased patient satisfaction, and enhanced billing compliance from complex claims related to motor vehicle accidents and workers' compensation injuries. Revecore was founded in 1999 and is based in Franklin, Tennessee.

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Buyer(S) 3

Buyer

Riverside Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Riverside Partners is a specialist private equity firm focused on investments in healthcare and technology companies located throughout North America. The Firm has a particular interest in companies that are founder or family owned. Target companies are generally profitable with $3 to $15 million of EBITDA. Specific areas of interest within healthcare include suppliers to biopharmaceutical and medical device companies, medical technology and equipment, medical instrumentation, dental products and services, diagnostics and disposables, and specialized healthcare services. Areas of interest within technology include, analytical instrumentation, semiconductor equipment, industrial communications, wireless components, homeland security, and power generation technology. Transaction situations include partial or complete buyouts, recapitalizations, growth equity, divestitures, take privates, and strategic add-ons. Riverside Partners was formed in 1989 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 33 of 42
Sector (Business Services) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 16 of 18
State (Tennessee) 2 of 2
Country (United States) 33 of 42
Year (2017) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-14 Tegra Medical

Franklin, Massachusetts, United States

Tegra Medical LLC is a provider of precision machining and contract manufacturing services for the medical device industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-21 Alarm Connections

Tulsa, Oklahoma, United States

Alarm Connections is a provider of security funding, acquisition, and support services dedicated to helping full-service residential and commercial alarm operating companies continue to grow. Alarm Connections was founded in 2005 and is based in Tulsa, Oklahoma.

Buy -
DESCRIPTION

GrowthCurve Capital is a private equity firm that looks to leverage data and better human capital to grow companies. GrowthCurve will consider opportunities throughout the US that operate in the financial services, information services, healthcare, and technology sectors. GrowthCurve Capital was formed in 2020 and is headquartered in New York City.


DEAL STATS #
Overall 1 of 6
Sector (Business Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 3
State (Tennessee) 1 of 1
Country (United States) 1 of 4
Year (2017) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-10 Mistplay

Montreal, Quebec, Canada

Mistplay is a play-to-earn and game discovery platform for mobile gamers to discover new games and get rewarded while playing. It partners with mobile gaming publishers to grow their user bases and drive engagement through its game discovery engine and loyalty program, powered by the Company’s advanced machine learning platform. Across its more than 16 million users, Mistplay delivers a differentiated experience to high-value mobile gamers, along with a play-to-earn platform that rewards users for gameplay, creating a mutually beneficial dynamic between game publishers, mobile gamers, and reward partners. Mistplay was formed in 2015 and is based in Montreal, Quebec.

Buy -
Buyer

LLR Partners

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

LLR is a private equity firm that makes growth capital, buyout, and recapitalization investments in mid-sized growth companies with sustainable competitive advantages. LLR looks to invest $30 to $150 million per transaction and will consider both control and minority situations. Target companies generally have at least $10 million in annual sales and are valued up to $250 million. Broad industry sectors of interest include general business services, financial services, healthcare services, education, manufacturing, consumer/retail and information technology/software. LLR will consider investments throughout the US with an emphasis on opportunities located in the Eastern and Mid-Atlantic regions of the US. LLR Partners was formed in 1999 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 75 of 127
Sector (Business Services) 8 of 12
Type (Buyout (LBO, MBO, MBI)) 17 of 19
State (Tennessee) 3 of 5
Country (United States) 74 of 126
Year (2017) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-09 BluVector

McLean, Virginia, United States

BluVector, Inc. is a cyber-threat detection and hunting platform that defends enterprises against evolving security threats. Leveraging patented machine learning technology and based upon years of malware analysis and classification, BluVector delivers fast, highly scalable and integrated detection of malicious software targeting enterprise networks to help security teams stay ahead of advanced threats and protect against data breaches and theft. BluVector’s installed base of customers includes Fortune® 1000 and public sector organizations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-22 Community Education Centers

West Caldwell, New Jersey, United States

Community Education Centers is a national provider of rehabilitative services for offenders through reentry and in-custody treatment programs as well as comprehensive management services for county, state, and federal correctional and detention facilities. CEC provides evidence-based programming for residential and non-residential clients through reentry and correctional facilities, in-prison treatment services, and outpatient and day reporting programs.

Sell -