M&A Deal Summary

Seven Hills Capital and Tenth Street Capital Acquire VersiCare Group

On February 28, 2018, private equity firm Seven Hills Capital and mezzanine finance firm Tenth Street Capital acquired consumer services company VersiCare Group

Acquisition Highlights
  • This is Seven Hills Capital’s 1st and Tenth Street Capital’s 2nd transaction in the Consumer Services sector.
  • This is Seven Hills Capital’s 1st and Tenth Street Capital’s 34th transaction in the United States.
  • This is Seven Hills Capital’s 1st and Tenth Street Capital’s 1st transaction in Michigan.

M&A Deal Summary

Date 2018-02-28
Target VersiCare Group
Sector Consumer Services
Buyer(s) Seven Hills Capital
Tenth Street Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

VersiCare Group

Troy, Michigan, United States
VersiCare Group is a provider of home and community-based care for individuals of all ages with intellectual and developmental disabilities. VersiCare Group was founded in 2018 and is based in Troy, Michigan.

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Buyer(S) 2

DESCRIPTION

Seven Hills Capital is a healthcare focused private equity firm that looks to acquire majority control of lower middle-market profitable companies with $1 to $20 million of EBITDA. Specific areas of interest include healthcare providers, outsourced healthcare services, post-acute care, behavioral health, medical staffing, and technology enabled healthcare services. Seven Hill Capital was formed in 2016 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 1 of 3
Sector (Consumer Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 2
State (Michigan) 1 of 1
Country (United States) 1 of 3
Year (2018) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-18 Reliable Medical

Brooklyn Park, Minnesota, United States

Reliable Medical is a provider of complex rehab technology, clinical respiratory products, and durable medical equipment and supplies across Minnesota and parts of Western Wisconsin. The company serves a fragile patient base of pediatric and adult patients with conditions such as ALS, multiple sclerosis, cerebral palsy, a severe spinal cord injury, and stage four COPD, among others. Reliable Medical was formed in 1989 and is based in Brooklyn Park, Minnesota.

Buy -
Buyer

Tenth Street Capital

Chattanooga, Tennessee, United States

Investor Investor


Category Mezzanine Finance Firm
Founded 2005
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tenth Street Capital is an independent investment firm that seeks to invest in lower middle-market companies operating in a broad range of industries. The Firm provides mezzanine and equity co-investments to profitable businesses with strong market positions and diverse customers. Areas of interest include manufacturing, distribution, and services. Investment proceeds are generally used to support acquisitions, buyouts, and recapitalizations. Tenth Street Capital was formed in 2005 and is based in Chattanooga, Tennessee.


DEAL STATS #
Overall 34 of 35
Sector (Consumer Services) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 25 of 25
State (Michigan) 1 of 1
Country (United States) 34 of 35
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-21 Myco Trailers

Bradenton, Florida, United States

Myco is a leading provider of custom designed boat trailers marketed exclusively to the high performance (offshore racing and poker run recreation) boating industry and to various governments for military use. The company distributes to both a national and international client base. Founded in 1974, Myco's headquarters and manufacturing facility is located in Bradenton, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-31 Mid America Specialty Services

Ozark, Missouri, United States

Mid America Specialty Services is a provider of architectural restoration and related maintenance services for the metal, stone, wood, and glass surfaces. Mid America Specialty Services was founded in 1985 and is based in Ozark, Missouri.

Buy -