HHAeXchange has been recapitalized by Cressey & Company
January 9, 2019 – Lincoln International acted as the exclusive financial advisor for HHAeXchange, working closely with the Company’s management team and shareholders. Investment banking advisors from Lincoln’s Healthcare and Technology, Media & Telecom (TMT) groups collaborated to expand the buyer landscape and identify the most strategic fit for HHAeXchange.
Lincoln’s services included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction. The terms of the transaction were not disclosed.
HHAeXchange is the premiere homecare management software solution for the Medicaid LTSS population. The company acts as the single source of truth in connecting payers, providers, and patients through an intuitive web-based platform, enabling unparalleled communication, transparency, and visibility.
Prior to the sale to Cressey & Company, HHAeXchange was a portfolio company of McCarthy Capital and Martis Capital.
“We are thrilled with the outcome Lincoln achieved on this transaction. Lincoln’s buyer knowledge, combined with a unique and well-managed process by a highly dedicated team of bankers, created the optimal result,” said Patrick Duffy, President and Managing Partner, McCarthy Capital.
Added Greg Strobel, CEO of HHAeXchange, “Lincoln was an ideal choice as our banker articulating the nuances of our business, bringing a deep team and giving us solid advice at every step in the process.”
The Lincoln team combined professionals, expertise and industry relationships from the firm’s Healthcare and TMT groups. Managing Directors, Barry Freeman (co-head of Healthcare) and Scott Twibell (co-head of TMT) reinforced the synergies between HHAeXchange and Cressey, with Freeman commenting, “Cressey will be the ideal partners for management in taking the business to the next level.”
About McCarthy Capital
McCarthy Partners Management, LLC is a registered investment advisor that conducts business as McCarthy Capital. McCarthy Capital, headquartered in Omaha, NE, is focused exclusively on lower middle-market companies. For more than 30 years, the McCarthy organization has been partnering with founders, families, and exceptional management teams to support the growth of their companies. More information about McCarthy Capital can be obtained at www.mccarthycapital.com.
About Martis Capital
Martis Capital, headquartered in Palo Alto, CA, is a private equity firm specializing in buyouts, growth capital, recapitalizations and middle market investments. The firm seeks to invest in healthcare and wellness sectors in companies focused on cost containment, enhanced operating efficiency and improved clinical outcomes. More information about Martis Capital can be obtained at www.martiscapital.com.
About Cressey & Company
Based in Chicago, IL and Nashville, TN, Cressey & Company LP is a private investment firm focused on building leading healthcare provider, service and information technology businesses. With a history spanning nearly 35 years, the Cressey & Company team is one of the most experienced and successful in the healthcare private equity field. More information about Cressey & Company can be obtained at www.cresseyco.com.
About Lincoln International
We are trusted investment banking advisors to business owners and senior executives of leading private equity firms and public and privately held companies around the world. Our advisory services include mergers and acquisitions, debt advisory, growth equity and restructuring for the mid-market. We also provide valuations and fairness opinions and joint ventures advisory services. As one tightly integrated team of more than 500 professionals across 15 countries, we offer an unobstructed perspective, backed by superb execution and a deep commitment to client success. With extensive industry knowledge and relationships, timely market intelligence and strategic insights, we forge deep, productive client relationships that endure for decades. Connect with us to learn more at www.lincolninternational.com.