M&A Deal Summary

Wellspring Capital Management Acquires Summit Spine & Joint Centers

On April 3, 2025, private equity firm Wellspring Capital Management acquired healthcare services company Summit Spine & Joint Centers from MSouth Equity Partners and Audax Private Debt

Acquisition Highlights
  • This is Wellspring Capital Management’s 7th transaction in the Healthcare Services sector.
  • This is Wellspring Capital Management’s 49th transaction in the United States.
  • This is Wellspring Capital Management’s 3rd transaction in Georgia.

M&A Deal Summary

Date 2025-04-03
Target Summit Spine & Joint Centers
Sector Healthcare Services
Buyer(s) Wellspring Capital Management
Sellers(s) MSouth Equity Partners
Audax Private Debt
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
DLA Piper (Legal)

Target

Summit Spine & Joint Centers

Lawrenceville, Georgia, United States
Summit Spine & Joint Centers operates ambulatory surgery centers and pain management clinics in the greater Atlanta area. Summit provides interventional pain management treatment to patients who suffer from chronic pain symptoms. Summit Spine & Joint Centers was founded in 2014 and is based in Lawrenceville, Georgia.

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Buyer(S) 1

Buyer

Wellspring Capital Management

New York, New York, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Wellspring Capital Management is a mega-sized private equity firm that focused on a variety of transaction situations. The Firm will consider buyouts of private companies, acquisitions of divisions or subsidiaries of public companies, shareholder liquidity needs, partnering with entrepreneurs for growth opportunities, and special situations. Wellspring does not have any sector preferences and is capable of pursuing transactions valued up to $1 billion. Wellspring Capital Management was formed in 1995 and is based in New York City.


DEAL STATS #
Overall 54 of 54
Sector (Healthcare Services) 7 of 7
Type (Secondary Buyout) 23 of 23
State (Georgia) 3 of 3
Country (United States) 49 of 49
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-01 Airswift

Houston, Texas, United States

Airswift is an international workforce solutions provider within the energy, process and infrastructure industries. Airswift serves as a strategic partner to our clients, offering a turnkey workforce solution to capture and deliver the top talent needed to complete successful projects by aligning with the unique needs of our clients. With over 52 offices worldwide, 6,000 contractors and a candidate database of 500,000, our geographical reach and pool of talent available is unmatched in the industry and the level of experience, exposure and expertise that the organisation has is unparalleled. Airswiftis based in Houston, Texas.

Sell -

Seller(S) 2

SELLER

MSouth Equity Partners

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

MSouth Equity Partners is a private equity firm focused on mid-sized company investments and acquisitions valued between $25 and $250 million. The Firm prefers opportunities in Southern US and looks to commit $25 to $100 million per transaction. Sectors of interest include distribution, business services, media, telecom, and specialty manufacturing. MSouth is the successor to private equity firm, Cravey, Green & Wahlen, Inc. which was founded in 1984. MSouth Equity Partners is based in Atlanta, Georgia.


DEAL STATS #
Overall 32 of 32
Sector (Healthcare Services) 4 of 4
Type (Secondary Buyout) 14 of 14
State (Georgia) 15 of 15
Country (United States) 32 of 32
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-11 Nth Degree

Duluth, Georgia, United States

Nth Degree is a provider of exhibit management and event services. The company provides specialized installation and dismantle services for trade shows and also serves as an experiential marketing and management agency. Nth Degree is based in Duluth, Georgia.

Sell -
SELLER

Audax Private Debt

New York, New York, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 5.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Mezzanine is the mezzanine finance arm of the Audax Group. The Firm focuses on investing in both private and public, US-based middle market companies with a strong history of cash flows and consistent revenue growth. Audax will consider subordinated mezzanine debt commitments, second lien or junior secured debt, preferred stock and common stock. The Firm seeks to invest in companies valued between $10 and $60 million. Types of transaction include MBOs, LBOs, growth capital financings, acquisition financings, and recapitalizations.


DEAL STATS #
Overall 52 of 52
Sector (Healthcare Services) 3 of 3
Type (Secondary Buyout) 25 of 25
State (Georgia) 2 of 2
Country (United States) 52 of 52
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-18 GME

Columbia, Missouri, United States

GME is an omnichannel distributor of fall protection, safety, and productivity equipment. The company supplies a comprehensive selection of fall protection, rigging materials, workwear, and PPE to technicians and contractors working in the telecom, utility, aerial construction, renewable energy, and other industrial markets. It provides expedited delivery of products that are critical to worker safety while catering to unique customer needs with value-added services like curated kitting and certified training courses. GME Supply was founded in 2005 and is based in Columbia, Missouri.

Buy -