Recapitalizations

Within our target industries (recurring services, media and communications) Housatonic will often partner with owner/operators who wish to sell an equity stake in their business while retaining operating control, or who are seeking additional capital to accelerate their growth rate. Recapitalization can be an attractive option for owners who desire partial liquidity for their business without sacrificing the opportunity to share in the company's upside, or who wish to accelerate their growth rate. This structure can also allow the owner to maintain operating control of the company.

Housatonic has a demonstrated track record of helping companies grow, both internally and through acquisition. In addition to gaining personal liquidity, our partners in recapitalizations gain a strong and experienced financial ally to help chart the strategic path for their business.

Representative Recapitalization Investments

Archives One

Accurate Monitoring: In July 2016, Housatonic invested in Accurate Monitoring, a leading provider of Intraoperative Neurophysiological Monitoring (IONM) services to hospitals and surgical groups in the Northeast and South. Based in Fairfield, NJ, Accurate Monitoring’s surgical neurophysiologists and supervising physicians assist its clients in monitoring a patient’s neurological heath during surgery and reducing the risk of post-operative complications.

Archives One

ArchivesOne: In April 1998, Housatonic made an investment in ArchivesOne, Inc., a rapidly growing records management firm based in Middlebury, Connecticut and at that point serving the New York metropolitan area. The company completed over 30 acquisitions and grew to become the third largest company in the records management industry, operating in 23 markets in the U.S. In May 2007, ArchivesOne was sold to Iron Mountain Incorporated (NYSE: IRM).

Arrival Communications

Arrival Communications: Headquartered in Bakersfield, California, Arrival is a profitable facilities-based competitive local exchange carrier, offering a full array of integrated communications services to business customers. Arrival targets business customers in underserved markets throughout Central California, a fast-growing region characterized by a large concentration of small and medium-sized enterprises. Housatonic Partners made its first minority investment in Arrival in 1999.

Asurion

Asurion: Housatonic participated in the original acquisition to form Asurion in 1995, and invested in the company again in 2000, 2009 and 2012. Now with over 50 million customers, Asurion has grown to be the North American leader in enhanced services for the wireless industry, including handset insurance, data protection and roadside assistance. In April 2001, July 2007 and March 2016, Housatonic sold portions of its interest in Asurion to a financial buyer.

Bay Communications

Bay Communications: In January 2003, Housatonic participated in the acquisition of Bay Communications. Bay was formed to build a communications tower leasing company with a portfolio of tower assets in New England and other select areas of the Northeast.

BirdDog Solutions

BirdDog Solutions: In September 2006, Housatonic made a debt investment in BirdDog Solutions. The company is the leading provider of parcel shipping optimization services, integrating carrier contract negotiation with comprehensive invoice auditing, payment processing, recovery services, and advanced reporting.

Boston Common Press

Calo Programs: In August 2016, Housatonic invested in Calo Programs, a leading behavioral health provider specializing in serving preteens, teens and young adults who have suffered the effects of early trauma. Calo offers clients a comprehensive network of clinical and therapeutic programs including residential treatment centers, young adult transition programs, outpatient centers and wilderness therapy programs.

Boston Common Press

Boston Common Press: In September 1996, Housatonic made a minority investment in Boston Common Press (BCP), a publisher of two leading niche consumer magazine titles: Natural Health and Cook's Illustrated. In July 1998, BCP sold Natural Health to Weider Publishing, Inc. BCP has since launched several successful related ventures, including a cookbook series, the America’s Test Kitchen television show, and Cook’s Country magazine.

CaseCentral

CaseCentral: Housatonic Partners first invested in CaseCentral in September 1999. The company, founded in 1994 and based in San Francisco, delivers on-demand discovery lifecycle management platforms to corporations and law firms.  CaseCentral’s software is backed by responsive, litigation-savvy strategic consulting, process, and support services.  The company’s client list numbers over 1,100 law firms and corporations and includes 81 of the top 100 U.S. law firms. They are consistently chosen to handle many of the most complex and highly visible litigation projects in the nation. In February 2012, CaseCentral was sold to Guidance Software (NASDAQ: GUID).

CaseCentral

Circle Graphics: In December 2012, Housatonic made an investment in Circle Graphics, the leading provider of large-format digital printing for the outdoor advertising industry. Based in Longmont, Colorado, the company serves the out-of-home advertising industry as well as the custom photograph printing market.

Enerdyne

Efficient Forms: In June 2017, Housatonic participated in the recapitalization of Efficient Forms, LLC. Founded in 2004 and based in Littleton, Colorado, Efficient Forms is a leading provider of HR software and services including applicant tracking, onboarding, work opportunity tax credit (WOTC) processing, and healthcare compliance. Efficient Forms has built a core base of 2,000 customers including quick-serve restaurants, call centers, staffing firms, retailers, and payroll service bureaus.

Enerdyne

Enerdyne Technologies: In June 2002, Housatonic recapitalized Enerdyne Technologies, Inc. (ETI), based in San Diego, California. Founded in 1984, ETI is a leading provider of digital video systems and services to the government, military and intelligence communities. In June 2006, we sold ETI to ViaSat, Inc. (NASDAQ: VSAT).

FARM

Exponential Interactive: In August 2010, Housatonic invested in Exponential Interactive, a technology-enabled media services company that delivers innovative products and services to meet the demands of today’s digital advertisers. Based in Emeryville, California, the company offers a fully-integrated suite of online advertising solutions and through a variety of offerings, enables online advertisers to reach their target audiences from around the globe to across town. The company’s proprietary ad serving technology serves over 20 billion ad impressions a month and reaches more than 75% of all users on the Internet.

CaseCentral

FIMC: In September 2017, Housatonic invested in FIMC. Founded in 1974 and based in Sarasota, Florida, FIMC is a leading provider of auto club memberships which provide consumers with roadside assistance and other related consumer protections.

FARM

First American Records Management Company: In January 1997, Housatonic made a minority investment in First American Records Management Company (FARM), the leading provider of records storage and management services to Silicon Valley firms. In April 1999, FARM was sold to Iron Mountain Incorporated (NYSE: IRM).

Gold Standard

Gold Standard: In September 2003, Housatonic made an investment in Gold Standard, a leading drug information and healthcare database publisher based in Tampa, FL. In May 2006, Gold Standard was sold to Elsevier, part of Reed Elsevier Group plc (NYSE: RUK and ENL).

HealthWyse: In September 2011, Housatonic invested in HealthWyse, a leading provider of clinical and financial software solutions for home care, hospice and private duty agencies. Delivered through a hosted data center with end-to-end managed services, the company‘s fully integrated services and software offerings include a Point of Care, Clinical Management and Billing solution customized to meet the needs of various agencies.

HemaSource: In February 2010, Housatonic invested in HemaSource, the leading provider of medical consumables to the plasma and whole blood collection industries.  Through its proprietary online ordering and inventory management platform, HemaSource reduces costs and maximizes efficiency for its customers. In July 2014, Hemasource was sold to a financial buyer.   

Ilios Partners

Ilios Partners: In June 2006, Housatonic made an investment in Ilios Partners, a leading provider of capital markets intelligence services, which includes the monitoring of institutional trading activity in the stock or debt of publicly traded companies, and related investor relations services including investor profiling and targeting. Illios was sold to MZ Consult in February 2011.

LeMaitre Vascular

LeadQual: In November 2013, Housatonic made an investment in LeadQual LLC, an internet marketing services provider offering digital agency, lead generation, qualification and transfer services to clients across a number of industries. By improving the quality of online traffic, screening and transferring live leads to sales reps, the company helps customers generate higher ROI from their digital marketing initiatives.

LeMaitre Vascular

LeMaitre Vascular: LeMaitre Vascular, Inc. is a leading global provider of innovative devices for the treatment of peripheral vascular disease. The company develops, manufactures, and markets disposable and implantable vascular devices to address the needs of vascular surgeons and interventionalists. LeMaitre completed its initial public offering in October 2006 (NASDAQ: LMAT).

Ilios Partners

Liberty Towers: In November 2007, Housatonic acquired a majority interest in Liberty Towers, LLC. Liberty was formed by a management team with deep industry experience to develop, build and lease new communications towers throughout the eastern U.S.

Med Options

MedOptions: In February 2006, Housatonic invested in a management buyout of MedOptions, the largest provider of behavioral health and primary medical care services to skilled nursing and assisted living facility residents in Connecticut and Rhode Island. MedOptions delivers improved patient outcomes and quality of life while improving facility operating performance, including reduced hospital readmissions and ER visits, improved staff/physician/family satisfaction, reduced drug expenses and increased reimbursement.

Onsite Dental Care

OASIS Group: Offsite Archive Storage and Integrated Services Holdings Limited (OASIS) is a growing UK/Ireland-based records and information management company with offices servicing the Dublin, Belfast and London area markets. The company serves customers in the financial, legal, healthcare, and government sectors, with offerings that include hard copy, digital and vault storage with ancillary services and information destruction services. Housatonic Partners and Sverica International acquired the company in May 2009, with plans to build the company through a strategy of add-on acquisitions combined with organic growth. Since then, OASIS has completed three add-on acquisitions in its existing markets.

Onsite Dental Care

Onsite Health: In January, 2000, Housatonic invested in Onsite Health, a national provider of healthcare services specializing in Mobile Dental and Healthcare Practices & Portable Dental and Healthcare Equipment for corporate, military, government, and community foundation clients.

Med-Mart: In January 2002, Housatonic made an investment in Braden Partners, LP, dba Med-Mart. The company is a leading provider of oxygen and other respiratory therapy services to patients in the home. In June 2008, Med-Mart was sold to a large Japanese healthcare company, Teijin Pharma Ltd.

Response Link

ProService Hawaii: In December 2007, Housatonic Partners invested with management in ProService, a rapidly growing professional employer organization and the largest provider of outsourced human resources services in the state of Hawaii.

Response Link

ResponseLink: In June 2008, Housatonic Partners purchased an ownership stake in ResponseLink. The company is one of the leading providers of personal emergency response services to seniors and the handicapped living at home.  ResponseLink utilizes a proprietary remote communications device which is monitored continuously.  

Shooting Star Broadcasting

Shootingstar Broadcasting: In September 2004, Housatonic invested in Shootingstar Broadcasting of New England, a television broadcasting company led by Diane Sutter. The company operates WNDS-TV, the only full-power independent television station in the Boston market. Shooting Star was sold to a financial buyer in February 2011.

Shooting Star Broadcasting

Sprout Health Group: In December 2015, Housatonic invested in Sprout Health, a provider of behavioral health and substance abuse treatment services with facilities across the United States. Sprout offers clients a full continuum of behavioral healthcare, including detox, residential treatment, and multiple levels of outpatient treatment, aftercare, and ongoing monitoring programs.

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