Investment Summary

Audax Private Equity Exits Meridian Programs

On December 7, 2015, private equity firm Audax Private Equity invested in healthcare services company Meridian Programs from Triton Pacific Capital Partners

Investment Highlights
  • This is Audax Private Equity’s 8th transaction in the Healthcare Services sector.
  • This is Audax Private Equity’s 84th transaction in the United States.
  • This is Audax Private Equity’s 4th transaction in Minnesota.
Investment Fate
  • Meridian Programs was sold to a consortium of financial buyers in 2023.

Investment Summary
Date 2015-12-07
Target Meridian Programs
Sector Healthcare Services
Investor(s) Audax Private Equity
Sellers(s) Triton Pacific Capital Partners
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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Investor(S) 1

Investor

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 86 of 167
Sector (Healthcare Services) 8 of 18
Type (Secondary Buyout) 35 of 72
State (Minnesota) 4 of 6
Country (United States) 84 of 158
Year (2015) 11 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-16 Justrite

Des Plaines, Illinois, United States

Justrite is a manufacturer of safety products that are designed to help companies prevent catastrophic events caused by fire or spillage of hazardous materials. Justrite was founded in 1906 and is headquartered in Des Plaines, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-09 Active Day

Trevose, Pennsylvania, United States

Active Day is a provider of adult day health services and in-home personal care. With more than 80 locations across the country, the Company provides therapeutic activities, opportunities for socialization, and expert health and nursing care to improve its members’ daily functioning and delay the onset of chronic illness. Active Day was founded in 1995 and is based in Trevose, Pennsylvania.

Buy -

Seller(S) 1

SELLER

Triton Pacific Capital Partners

Los Angeles, California, United States
Category Private Equity Firm
Founded 1996
Size Small
Type Sector Agnostic
DESCRIPTION

Triton Pacific Capital Partners is a private equity firm focused on investing in US based small to mid-size growth companies. Triton looks to invest $5 to $15 million in companies generating $2 to $10 million of EBITDA. Sectors of interest include healthcare services, software, IT, business services, consumer products, light manufacturing, logistics, and value-added distribution. Prospective transaction situations include recapitalizations, management buyouts, growth capital financings, divestitures, and shareholder liquidity needs. Triton Pacific Capital Partners was formed in 1996 based in Los Angeles, California.

DEAL STATS #
Overall 6 of 9
Sector (Healthcare Services) 2 of 2
Type (Secondary Buyout) 2 of 3
State (Minnesota) 1 of 1
Country (United States) 6 of 9
Year (2015) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-30 PharmaSync

Milwaukie, Oregon, United States

PharmaSync is a provider of institutional pharmacy services. PharmaSync focuses on the needs of adult foster care, assisted living centers, and other residential care facilities. PharmaSync was founded in 2012 and is based in Milwaukie, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-07 AssetPoint

Greenville, South Carolina, United States

AssetPoint LLC is a provider of CMMS / EAM solutions helping customers control their operations, reduce maintenance costs, optimize spare parts inventory, streamline procurement and provide greater visibility for improved management, command and control over their assets. Designed by maintenance professionals for maintenance professionals, the TabWare platform is easy to learn, easy to use and has helped tens of thousands of users manage their critical assets. AssetPoint’s customers include leading Food & Beverage, Oil & Gas, Chemical, Mining & Metals, Industrial Manufacturing and a variety of other companies throughout the world.

Sell -
Mergr

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