August 20, 2015
MSouth Closes the Acquisition of CRH Healthcare, LLC
Atlanta, GA (August 20, 2015) – MSouth Equity Partners, an Atlanta-based private equity firm, announced the closing of its first investment in Fund III. In partnership with management and the existing sponsor, MSouth completed the acquisition of CRH Healthcare, LLC.
CRH, headquartered in Atlanta, GA, is a patient-focused operator of urgent care centers in Alabama and Georgia. In connection with the investment by MSouth, CRH acquired the assets of Physicians Immediate Med, the leading urgent care and family care platform in Atlanta with 10 centers. Combined with CRH’s four Atlanta urgent care centers under the Peachtree Immediate Care brand, CRH is now the leading operator serving America’s ninth largest MSA of 5.6 million people. CRH’s centers are open seven days a week and provide walk-in care for injury, illness, and minor emergencies as well as family care to keep both parents and kids healthy. In addition to the capable staff, each center has extensive lab capabilities and digital x-rays onsite, allowing patients to be seen for nearly all non-life threatening medical issues without the long wait or high costs of an emergency room visit.
Peter Pettit, an MSouth Partner, said, "We have known the CRH Healthcare management team for 10+ years and are excited about our investment in the business. The team has built a scalable platform with best-in-class operations that is poised to capitalize on the growing demand for convenient and cost-effective healthcare alternatives. Additionally, with 14 centers in the Atlanta market, the company will be able to further realize the benefits of regional density. We look forward to partnering with the CRH team and participating in the company’s next phase of growth.”
MSouth Equity Partners is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower middle market companies typically valued between $25 and $150 million. Based in Atlanta, Georgia, MSouth invests primarily in the South with a consistent focus on management buyouts of companies in sectors where the firm has significant investment, management and transactional experience. MSouth invests with the objective of increasing operating cash flow through growth initiatives and active ownership. A key element of MSouth's investment strategy is partnering with proven management teams to create value. With $1.3 billion under management across three funds, MSouth is a successor to Cravey, Green & Wahlen, Inc., which was founded in 1984.