News, Recent Transactions, and Investment Announcements

Shore Capital Partners Recognizes Promotions and Welcomes Several New Hires to the Firm

November 15, 2022

CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”), a private equity firm focused on microcap investing, today announced several team promotions and new hires, including the appointment of Justin Bentley as Partner and Head of Capital Markets, Brian Tracy as Head of Investor Relations, and Sarah Gabriel as Chief People Officer.

“With the closing of our second Food & Beverage Fund earlier this year, our committed capital base has tripled since 2019 and our portfolio has roughly doubled. To best support our portfolio companies, our team has also tripled over that time frame,” said Justin Ishbia, Managing Partner of Shore. “We believe the next 10 years in the private equity industry will be focused on operations and we are committed to providing outsized resources to our companies, supporting them to grow faster with less risk. Over half our firm is now dedicated to operations. With the most recent promotions and additions to our team, we are providing both continuity and introducing new talent. This helps us be a better partner to our investor base, more effectively manage capital markets, and provide unparalleled operational support to our portfolio companies.”

Justin Bentley has been with the firm since December 2020 and has been promoted to Partner and Head of Capital Markets. He is responsible for leading the firm’s capital markets efforts, including the financing activities of all new investments and portfolio companies, as well as developing and managing Shore’s banking and intermediary relationships.

Brian Tracy joins Shore as Head of Investor Relations, responsible for leading the firm’s capital raising and investor relations efforts. He brings over 20 years of experience in investor relations and institutional sales, most recently serving as Head of Investor Relations, Private Funds at Burford Capital. Prior to Burford, Mr. Tracy held senior positions in investor relations at Brookfield Asset Management and Wolverine Asset Management.

In addition, Sarah Gabriel joins the firm as Chief People Officer, where she leads strategy for people operations and development, and supports portfolio company management teams by providing human resources expertise and shared learnings. Ms. Gabriel has 20 years of experience in private equity and most recently served as a partner at Kirkland & Ellis and co-led the Center of Excellence for the Public Company Advisory Practice. Prior to Kirkland & Ellis, Ms. Gabriel held executive leadership positions in public and private companies, including roles as a Chief Compliance Officer and General Counsel.

In addition, the firm congratulates the following individuals on their promotions within the Shore Resource Team: Chase Hall (Senior Director), Joe Pizetoski (Director), Shannon Finocchi (Director), Brandon Coan (Director) and Peter Roehmholdt (Director). Shore also welcomes Sean McDonald (Continuous Improvement Director), Johnny Mishu (Marketing Director) and Kelley Harrington (Payor Consulting Director) to the Resource Team’s Centers of Excellence.

About Shore Capital Partners

Shore Capital Partners, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services, and Real Estate industries. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic growth and growth through industry consolidation. Shore has approximately $3 billion of cumulative capital commitments through various investment vehicles. For more information, please visit: www.shorecp.com.

Contacts

Shore Capital Partners
Jordan Niezelski, Edelman Smithfield
jordan.niezelski@edelmansmithfield.com

Shore Capital’s sale of EyeSouth Partners shows off lower-mid-market buy-and-build model

October 18, 2022

CHICAGO--(PE HUB)--When Shore Capital Partners sold EyeSouth Partners to Olympus Partners, the sale was the culmination of a five year buy-and-build strategy that grew the regional ophthalmology services manager 20-fold from 13 practitioners to 270. The deal, which was announced in September, was valued at just under $1 billion and grew WBITDA from $2 million to more than $70 million, according to sources familiar with the transaction.

PE Hub interviewed Shore Capital partner Chris Mioton to get an inside look at what levers were pulled to grow and scale the asset, as well as how the dealmaking process evolved during a volatile economic environment.

EyeSouth was formed by Chicago-based Shore Capital back in 2017 with an initial investment in Georgia Eye Partners, a leading ophthalmology practice based in Atlanta with 13 doctors and five locations. This was shortly followed by an investment in Georgia Retina, another practice in Atlanta with a "sterling reputation," according to Mioton.

“With that foundation, the team built EyeSouth into what it is today – over 270 doctors and 155 locations in 11 states,” he explained. EyeSouth was a “great case study of execution across both organic and inorganic growth levers.”

“Organically, EyeSouth doubled market growth rates through the execution of our management team in recruiting new physicians, developing and utilizing new service lines (such as premium cataract offerings), and building de novo clinic and surgery center locations,” said Mioton. “The EyeSouth team, with the support of Shore Capital, also affiliated with and integrated 33 practices throughout our ownership.”

As with any deal, this transaction required “significant negotiating from both parties at the end,” Mioton explained. “With financing markets in their current state, I could understand why there may be a more significant price gap in certain cases, but that was not an impasse for this process in particular.”

The plans were to sell in 2022 and it was a “fairly standard auction process,” and it went through multiple rounds of bids.

He also noted that given the firm’s investment focus on the lower-mid-market, and starting with relatively conservative leverage at entry, Shore Capital “has been fortunate to elude some of the negative consequences of these conditions on the new investment side.”

“On the sell-side, we expect that premium assets will continue to command a premium, even in a turbulent market,” he said. “We are focused on equipping our companies with the best people and resources to navigate the specific challenges each of them face, and our goal is for each to be viewed as best-in-class in their respective industries.”

When asked how the firm is able to execute on these deals, with plenty of market-related reasons why buyers could say no, Mioton said “our goal is to build companies supported by experienced management teams and with sustainable growth levers to demonstrate a path to a strong return for the next buyer and an enterprise that is built to last. Companies with those characteristics sell themselves, even in a challenged macro environment.”

He added that Shore Capital’s returns “have continued to remain strong.”

“The majority of our value creation comes through replicable growth levers,” he said. “For larger players where debt availability and cash generation drives a more significant portion of their return, I would imagine the impact to returns is more acute.”

Shore Capital Partners Announces Sale of IZI Medical Products

October 3, 2022

CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”), a Chicago-based private equity firm focused on microcap investments within the Healthcare, Food and Beverage, and Business Services industries, is pleased to announce the sale of IZI Medical Products (“IZI”), its interventional radiology medical device portfolio company, to Halma plc (“Halma”), a global group of life-saving technology companies focused on growing a safer, cleaner and healthier future for everyone, every day.

Shore Capital partnered with IZI in 2016 with the goal of building a leading innovator, manufacturer and distributor of quality medical devices. Led by Chief Executive Officer Greg Groenke, the team at IZI has built a diverse portfolio of consumable devices used in interventional radiology and oncology, radiation therapy, neuro-spine and image guided surgery procedures. IZI’s products and technologies are employed in approximately 2,000 domestic hospitals, as well as utilized internationally across 35 countries.

“Shore Capital is proud to have partnered with Greg and the IZI team to build the company into one of the leading medical device platforms in the interventional market,” said Don Pierce, Partner at Shore Capital and Chairman of the Board at IZI. “IZI is well positioned to continue growing as a leader in the industry. We appreciate the contribution of all employees and wish the team success as they embark on this next chapter with an excellent partner in Halma.”

“Shore Capital was a true partner that shared our vision for growth and success, providing more than just capital during our partnership. The firm supported with investing in our people, developing our technology and growing our business through strategic acquisitions,” said Groenke. “Our mission is to improve patients’ lives with physician-led innovation, which aligns with Halma’s vision to improve the quality of care delivered by healthcare providers. Joining the Halma group will take IZI to the next level, adding research and development capabilities and bringing international growth opportunities that will support our journey to advance healthcare for patients worldwide.”

The transaction closed on September 30, 2022. Winston & Strawn LLP served as legal advisor to Shore Capital and IZI on the transaction.

About Shore Capital Partners

Shore Capital, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services, and Real Estate industries. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic growth and growth through industry consolidation. Shore has approximately $3 billion of cumulative capital commitments through various investment vehicles. For more information, please visit: www.shorecp.com.

About IZI Medical Products

As a leading innovator, manufacturer, and distributor of quality medical devices, IZI Medical provides the continuity that our healthcare partners need to succeed. Based in Owings Mills, Maryland, just outside Baltimore, IZI is a leading developer, manufacturer, and provider of high-quality medical consumable devices used in radiology, radiation therapy, neuro-spine, and image guided surgery procedures. IZI has built a diverse portfolio of products backed by strong intellectual property and currently sells to more than 2,000 domestic customers as well as internationally across 35 countries. For more information, please visit www.izimed.com.

About Halma

Halma is a global group of life-saving technology companies, focused on growing a safer, cleaner, healthier future for everyone, every day. Its purpose defines the three broad market areas where it operates: safety, the environment and healthcare. Halma employs over 7,000 people in more than 20 countries, with major operations in the UK, Mainland Europe, the USA and Asia Pacific. Halma is listed on the London Stock Exchange (LON: HLMA) and is a constituent of the FTSE 100 index. For more information, please visit www.halma.com.

Contacts

Shore Capital Partners
Allison Dorr, Edelman Smithfield
allison.dorr@edelmansmithfield.com

Shore Capital Partners Announces Partnership with AA Medical

May 20, 2022

CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”) is pleased to announce it has completed a partnership with AA Medical, a provider of sustainable solutions to both the new and resale medical device equipment markets based in Mokena, Illinois, with a second location in Miami, Florida.

AA Medical was founded in 2012 by Ron Plantz to help doctors and surgeons across the world access high quality pre-owned medical equipment at an affordable price. AA Medical partners with equipment manufacturers, banks, and medical facilities to buy pre-owned equipment, unlocking the residual value to help facilities maximize resources to improve patient care and optimize clinical asset purchases.

AA Medical works with physicians in over 100 countries and has grown into one of the largest and most respected aftermarket equipment companies in endoscopy, orthopedics and other specialties. A key factor in its success is the management team’s dedication to their customer and partner experience through strategic investments in technology, sales, and marketing tools. The management team at AA Medical has over 50 years of combined experience in the medical device industry, led by President Mr. Plantz and CEO Matt Nelson.

“We are excited to announce our partnership with Shore Capital and utilize their expertise working with businesses of our size, wide network, and extensive resources to expedite our next phase of growth,” said Mr. Plantz. “In conjunction with Shore, Matt and I look forward to continuing to provide excellent service and products to our customers.”

To support AA Medical’s growth, Shore has assembled a talented Board of Directors led by Don Pierce, Partner at Shore Capital. “Shore is proud to partner with Ron, Matt, and the entire AA Medical family. AA Medical has maintained their dedication to excellence in supplying high quality medical equipment to customers across the world,” said Mr. Pierce. “We are well-positioned to build on AA Medical’s reputation as an industry leader through both acquisitions and organic growth.”

AA Medical and Shore believe there is an opportunity to build a strong and diversified medical reprocessing company together through new industry partnerships, business development and further investment in the Company’s products and team.

“I have high confidence that, with Shore, we can continue to revolutionize the third-party medical equipment market,” said Mr. Nelson. “We are excited to work together to further our vision of increasing worldwide access to affordable, high-quality healthcare.”

About Shore Capital Partners

Shore Capital, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services, and Real Estate industries. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic growth and growth through industry consolidation. Shore has approximately $3 billion of cumulative capital commitments through various investment vehicles. For more information, please visit: www.shorecp.com.

About AA Medical

AA Medical has provided sustainable solutions to both the new and resale medical equipment markets since 2012, with a concentration in endoscopic, orthopedic, and other surgical devices. As a critical partner in cost containment, AA Medical helps medical facilities unlock residual value from unneeded equipment while providing reprocessed equipment that otherwise would be prohibitively expensive to purchase new to small, rural, specialty, and international medical facilities. For more information, please visit www.aamedicalstore.com.

Contacts

Shore Capital Partners
Jordan Niezelski, Edelman
jordan.niezelski@edelman.com

Shore Capital Announces Partnership with OC Flavors

May 4, 2022

CHICAGO & CHINO, Calif.--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”) is pleased to announce it has formed a growth partnership with OC Flavors (“OC” or the “Company”), a custom flavor developer and manufacturer based in Chino, California.

OC Flavors was founded in 2007 by Leah McCuen and Monica Ahuero to offer a full range of natural and organic flavors and flavoring solutions across a variety of food, beverage and supplement product applications. Operating out of a BRC-certified production facility and innovation center, the Company’s core offerings include liquid and powdered flavors for the beverage, dairy, plant-based, nutraceutical, snacking, confection and bakery industries. Shore Capital is partnering with the Company’s management team, which has led OC Flavors through tremendous growth over the past 15 years.

“We are thrilled to partner with Shore given their strategic approach and track record for building businesses like ours,” McCuen said. Ahuero added, “We are confident that Shore’s playbook and resources will help us take OC to the next level, as we look to maintain our winning culture while providing our customers and industry partners with world-class quality, service and innovation.”

OC and Shore plan to invest in several key initiatives to drive growth, including added support in key areas such as sales and marketing, research and development, and operational infrastructure. Together, OC Flavors and Shore will explore opportunities for inorganic growth through acquisitions and organic growth through new products and service offerings to deepen OC’s value proposition and customer relationships.

“We are honored to partner with the OC Flavors team on this next exciting chapter in the Company’s impressive history,” said Richard Boos, Partner at Shore and Chairman of OC Flavors. “Leah and Monica have built tremendous reputations in the flavor industry and a world-class organization with values and priorities that align extremely well with Shore’s. We could not be more excited to start executing our growth plan with the OC Flavors team.”

“Shore has been studying the flavors industry for several years, and we are confident we have found the perfect entrepreneurs and team to partner with at OC Flavors,” said Jeff Smith, Principal at Shore Capital. “We see tremendous opportunity for the Company moving forward as we add resources and capabilities to further enhance our offerings for our customers. We also look forward to welcoming additional flavor and related specialty ingredient companies into the family as we complete strategic add-on acquisitions.”

About Shore Capital Partners

Shore Capital, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services, and Real Estate industries. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic growth and growth through industry consolidation. Shore has approximately $3 billion of cumulative capital commitments through various investment vehicles. For more information, please visit: www.shorecp.com.

About OC Flavors

Since 2007, OC Flavors has provided custom flavors and flavoring solutions to help food and beverage creators navigate the complexities of their industries and develop flavors that set their products apart. Since its founding, the Company has built deep customer relationships and an excellent industry reputation by providing quality, innovative flavors with a particular emphasis on natural and organic-certified offerings. Today OC Flavors is a leading supplier and innovator for flavors across the beverage, snack bar, bakery, nutraceutical, dairy and plant-based categories, among other applications. For more information, please visit: www.ocflavors.com.

Contacts

Shore Capital Partners
Jordan Niezelski, Edelman
jordan.niezelski@edelman.com

OC Flavors
Leah McCuen
leah@ocflavors.com

Monica Ahuero
monica@ocflavors.com

Shore Capital Partners Announces Founding of OMS360 Through Affiliations with Kentucky Center for Oral and Maxillofacial Surgery and Community Oral Facial Surgery

February 2, 2022

CHICAGO & ATLANTA--(BUSINESS WIRE)--Shore Capital Partners (“Shore Capital” or “Shore”) is pleased to announce that it has founded OMS360 with the completion of strategic partnerships with Kentucky Center for Oral and Maxillofacial Surgery (“KCOMS”) and Community Oral Facial Surgery (“COFS”). Together, OMS360 (“The Company”) consists of seven oral and maxillofacial surgery practices located across Kentucky, Alabama and Georgia.

OMS360 is an oral surgeon support organization that partners with quality practices to deliver expertise in business development, finance, marketing, recruiting, benefits and other practice administration while enhancing oral surgeons’ ability to provide the highest quality of patient care. The Company has developed an impressive executive and operational support team based in Atlanta, Georgia. OMS360 is led by Chief Executive Officer Trevor Maurer, who is an experienced healthcare executive with a background in scaling and managing multi-site healthcare businesses. OMS360 continues to build its network of practices with expectations of becoming a preeminent oral surgeon support organization throughout the South and Mid-Atlantic regions of the United States.

Shore Capital is excited to partner with Drs. Bob Clark, Donald Max and Jason Ford from KCOMS, as well as Drs. Josh Everts, Ryan Livingston, Fred Atwell and David Davis from COFS, as they are some of the leading oral surgeons in Kentucky, Alabama and Georgia. The doctors have distinguished themselves as leaders by demonstrating a strong commitment to clinical quality and a patient-centric approach to care within their local communities. Further, these doctors have remained influential and involved with various oral surgery-related industry organizations that are critical to upholding the highest standards of patient care on both a local and national scale. Drs. Bob Clark and Josh Everts will join the Board of Directors for OMS360 and play an important role in further developing the growth strategy and optimizing the service offering to enhance operations at each affiliated practice.

Chris Mioton, Partner at Shore Capital, said, “We could not be more excited to partner with the doctors and team members at KCOMS and COFS. Both of these practices are leaders in their respective communities. Through Shore Capital’s extensive experience investing in medical practices, we share the founding doctors’ commitment to quality medicine and taking a patient-centric approach to lay the foundation for success. We are eager to partner with additional oral surgeons who embrace that philosophy.”

Mioton added, “We initially got to know Trevor as an operating partner over the last several years, including in his role as a Board member at Southern Orthodontic Partners, another Shore portfolio company. We are thrilled to expand our relationship with Trevor as CEO of OMS360 and support the talented management team he is assembling.”

Dr. Clark said, “We are proud of the practice we have built and appreciate the trust our patients and referral partners place in us. We believe Shore Capital and OMS360 represent the ideal partner to help facilitate our next phase of transformational growth and share our commitment to clinical quality and maintaining the best possible culture and experience for our employees and patients. I look forward to working closely with this industry-leading management team and executing on our shared vision to enhance practice operations and expand the delivery of quality patient care to each community we serve.”

Dr. Everts added, “Shore’s track record in the healthcare delivery arena is top of its class and the depth of their expansive internal resource team was something we didn’t find with other organizations. The capabilities of OMS360 will provide us access to operating expertise, strategic guidance, capital and administrative resources to help our practice continue its ambitious growth trajectory throughout Alabama and Georgia.” He continued, “I am eager to build upon OMS360’s excellent clinical reputation and expand the geographical reach through partnerships with other industry-leading oral surgeons.”

“Building a best-in-class oral surgeon support organization requires a strong foundation of surgeons and business leaders, a commitment to clinical excellence and a customized approach to the operations of each practice affiliate. The doctors and team members of KCOMS and COFS represent the ideal practices to join the OMS360 network. Their proven track record of practice growth, outstanding clinical reputation and commitment to their local communities are truly unique,” said Maurer. “We are well-positioned to grow and support our oral surgery practice partners as the healthcare industry transitions to a more consumer-oriented care model. While we must provide convenient and affordable care, we believe the oral surgeons’ role is invaluable and clinical expertise will be the most critical aspect of treatment. Additionally, Shore has helped to bring together an exceptional board of directors consisting of industry thought leaders and doctors alike to guide our strategy and growth plan.”

Shore Capital and OMS360 continue to invest in people and processes to support the operations, business development, finance, accounting, human resources and information technology functions at their affiliated practices to allow the oral surgeons to focus on clinical excellence and serving their communities. The Company will pursue affiliations with independent oral and maxillofacial surgery practices in order to build a network of top clinicians that maintains an oral surgery-led culture.

OMS360 represents the second platform investment out of Shore Capital Partners Healthcare Fund IV, L.P., a $366 million investment vehicle raised in July 2021.

To learn more about partnerships with OMS360, visit www.oms360.com or contact Zach Burger, Chief Development Officer, zach@oms360.com.

About Shore Capital

Shore Capital, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services, and Real Estate industries. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic growth and growth through industry consolidation. Shore has raised approximately $2.7 billion of cumulative capital commitments through various investment vehicles. For more information, please visit: www.shorecp.com.

Shore Capital Partners Announces Partnership with HowardSimon

January 19, 2022

CHICAGO & RIVERWOODS, Ill.--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”) is pleased to announce it has completed a partnership with HowardSimon (the “Company”), a retirement third-party administrator and payroll services provider based in Riverwoods, Illinois.

HowardSimon was founded in 1981 by Howard Simon to provide retirement plan administration services for small- and medium-sized businesses. After its founding, HowardSimon further developed its service and product offerings to include recordkeeping, 3(16) fiduciary services, payroll services and human capital management services, with the goal of integrating retirement and payroll services into a single platform to best serve employers and their employees. Today, HowardSimon has grown into one of the largest and most respected retirement third-party administrators in the Midwest while maintaining exceptional customer service.

“We are thrilled to announce our partnership with Shore Capital given their extensive operating resources, network and track record of performance,” said Howard Simon. “We are proud of our team’s relentless dedication to the customer experience and believe our partnership with Shore will enable HowardSimon to continue providing outstanding service and the highest quality product to our customers over the long term. Brad, Doug, myself and the entire Simon family are looking forward to growing HowardSimon with Shore.”

To support HowardSimon’s growth plan, Shore assembled a diverse and talented Board of Directors led by Brad Morehead, Partner and Head of Business Services Partners Fund at Shore Capital. “We are incredibly excited to partner with the team at HowardSimon and grow together into a leading multi-regional retirement services provider,” said Brad. “The Simon family has built a strong culture and foundation for growth.”

Together, HowardSimon and Shore will explore opportunities for growth through new partnerships and business development and continue to invest in the Company’s products and infrastructure.

“We commend the HowardSimon team for its strategic vision and dedication to outstanding customer service over the past 40 years,” said Mickey Jiang, Principal at Shore Capital. “HowardSimon provides a unique integration of retirement and payroll solutions, and we are confident that through our partnership, we will be able to unlock further opportunities to best serve both existing and future customers.”

About Shore Capital Partners

Shore Capital, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services, and Real Estate industries. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic growth and growth through industry consolidation. Shore has raised approximately $2.7 billion of cumulative capital commitments through various investment vehicles. For more information, please visit: www.shorecp.com.

About HowardSimon

HowardSimon has been providing creative financial solutions to clients since 1981. Over the years, the company has grown and evolved into one of the largest and most respected retirement plan administration, payroll, and human capital management providers in the Midwest. Along with being a leader and a resourceful provider of services, HowardSimon offers a truly integrated program that combines retirement plan and payroll information into a single platform, creating a unique employee experience as well as a single source, web-based Human Resources Information System solution. For more information, please visit www.hsimon.com.

Charlie Shreve Joins Shore Capital Partners as Principal

December 14, 2021

CHICAGO--(BUSINESS WIRE)--Shore Capital Partners, (“Shore” or “the firm”), a strategic private equity firm focused on microcap investing in the healthcare, food and beverage, business services and real estate industries, with offices in Chicago and Nashville, today announced Charlie Shreve has joined the firm as Principal. In his role, Shreve will source, evaluate and enable the growth of Shore investments in the healthcare industry.

“We are excited to welcome Charlie to Shore,” said Justin Ishbia, Managing Partner. “Charlie’s experience as an operator as well as an investor will be an asset to our current and future portfolio companies. On the heels of the recent close of our latest healthcare fund, we are proud to be bringing exceptional talent like Charlie on board to continue executing our strategy.”

Prior to joining Shore, Shreve led business development and strategy at EyeSouth Partners, an ophthalmology-focused Shore portfolio company. At EyeSouth, Shreve oversaw growth efforts to expand the network to over 25 practices, 210 physicians and 115 clinical and surgical locations.

“I am excited to join the Shore team and support the firm’s commitment to invest and partner with quality microcap companies in the healthcare sector,” said Shreve. “I have seen first-hand how Shore’s experienced team and differentiated model leads to incredible growth for its portfolio companies, and I look forward to helping more healthcare organizations flourish.”

Previously, Shreve worked at Keystone Capital as an investment professional and Jefferies as an investment banker. Shreve received his B.S. in Finance from the University of Kansas.

Shore Capital Partners Announces Partnership With BevSource

December 14, 2021

CHICAGO & ST. PAUL, Minn.--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”) is pleased to announce it has completed a partnership with BevSource (the “Company”), an outsourced beverage solutions provider based in St. Paul, Minnesota.

BevSource was founded in 2002 by Janet Johanson to offer a full range of solutions to beverage entrepreneurs and brand owners of all sizes. BevSource’s core service offerings include beverage development, scale-up, quality assurance, production management, packaging and ingredient procurement, and other operational and support services. The Company serves a diverse mix of small and large customers across multiple beverage categories, including beer, wine, spirits, energy drinks, teas, functional waters, carbonated soft drinks, seltzers and more.

Shore Capital is partnering with the Company’s management team, which has led BevSource through tremendous growth over the past 20 years.

“We are ecstatic to announce our partnership with Shore Capital given their proven playbook for growth and track record of performance,” Johanson said. “We are confident our combined industry knowledge, teams, networks and resources will enable us to continue to provide exceptional service and partnership to our clients and suppliers while building new value-add services into our suite of offerings moving forward.”

Shore plans to invest in the business development, research and development, sales and marketing, and operational infrastructure of the Company to drive transformational growth. Together, BevSource and Shore will explore opportunities for inorganic growth through acquisitions, and organic growth through new service offerings and industry partnerships.

“We could not be more excited and honored to partner with the entire BevSource team for their next chapter of growth,” said Richard Boos, Partner at Shore Capital and Chairman of BevSource. “Janet has built an excellent business focused on offering best-in-class services and unparalleled customer service. We look forward to helping build on the success already achieved to date and identifying new growth avenues together.”

“BevSource has built a truly unique business as a one-stop-shop for enabling the growth of innovators in the beverage category,” said Jeff Smith, Principal at Shore Capital. “We are thrilled to work with an entrepreneur of Janet’s caliber and her dynamic team in the years ahead as we further strengthen BevSource’s deep customer, supplier and industry partnerships and explore the addition of new service lines and acquisitions.”

About Shore Capital Partners
Shore Capital, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services, and Real Estate industries. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic growth and growth through industry consolidation. Shore has $2 billion of equity capital under management through various investment vehicles. For more information, please visit: www.shorecp.com.

About BevSource
BevSource brings beverage ideas to life for new and established beverage brands. Since 2002, BevSource has provided beverage development, sourcing, and production solutions to help beverage creators navigate the complexities of the beverage industry. Realizing creators needed a place to validate their ideas, BevSource created The Lab, a first-of-its-kind facility for small-scale pilot production and quality assurance testing. In 2021 BevSource made the Inc. 5000 list of fastest growing US companies, and Janet Johanson, CEO & President, was named EY’s Entrepreneur of the Year – Heartland Region. For more information, please visit www.bevsource.com.

Contacts

Shore Capital Partners
Jordan Niezelski, Edelman
jordan.niezelski@edelman.com

BevSource
Dan Macri, EVP Sales & Marketing
Dan@BevSource.com

Shore Capital Partners Welcomes Brad Morehead as Partner, Head of Business Services Fund

September 16, 2021

CHICAGO--(BUSINESS WIRE)--Shore Capital Partners, (“Shore” or “the firm”), a strategic private equity firm focused on microcap investing in the healthcare, food and beverage, business services and real estate industries, with offices in Chicago and Nashville, today announced Brad Morehead has joined the firm as partner and head of the firm’s business services fund.

In his role, Morehead will continue the firm’s strategy to deploy industry-focused funds. He is responsible for partnering with business services entrepreneurs and companies with $1M to $10M in EBITDA to drive transformational growth. Morehead will lead partnerships and transactions, including investment sourcing and valuation, transaction structuring and corporate development. Within business services, the team will initially target pest control, managed service providers, outsourced retirement/benefits services, distribution/logistics, fire and life safety services, insurance brokerage and distribution businesses, pool maintenance services, environmental/disaster remediation and services, and RIAs.

“It is my pleasure to welcome Brad to the Shore team,” said Justin Ishbia, Managing Partner. “Brad’s impressive track record and deep understanding of business services will be a key driver of our growth. His entrepreneurial and leadership background, paired with his passion for partnering with founders, is center of the target for our firm strategy to support great small businesses with oversized investment, operational and network resources to de-risk the investment and accelerate success. We look forward to all Brad will accomplish adding to our current portfolio of 27 companies, encompassing 17,000 employees.”

“I am thrilled to join the Shore team to lead the firm’s business services efforts,” said Morehead. “Shore provides more than just capital to small businesses; we are a true partner to business owners and roll up our sleeves. Shore has a history of helping microcap companies become regional and national powerhouses. I am excited to partner with entrepreneurs to grow their businesses and wealth to the next level by supporting companies with the people, capital, tools, technology, recruiting and operations resources of a Fortune 500 company.”

Prior to joining Shore, Morehead was the CEO of Assembly Health, a tech-enabled Management Services Organization focused on clinicians and facilities providing geriatric and post-acute care. Prior to Assembly, Morehead served as CEO of LiveWatch, where he and his team built LiveWatch into one of the fastest growing security companies in the country before successfully exiting the business. Prior to LiveWatch, Morehead was CFO of Feldco Factory Direct, the Midwest’s leading home renewal company.

Morehead previously worked for Friedman Fleischer & Lowe, a San Francisco-based private equity firm, and in investment banking with Goldman Sachs (New York) and Donaldson, Lufkin & Jenrette (Chicago). He serves on the board, has been a founding investor or was on the start-up team for a variety of other companies in industries from financial services to consumer products. Morehead serves on the boards of Point C, Assembly Health, Tandem HR, Sidekick, RecordConnect and MHW. In addition, he is an adjunct entrepreneurship professor and faculty member for the past ten years at Kellogg School of Management and Northwestern University

Shore Capital Business Services Partners Fund I (“BS Fund I”) is focused on making control equity investments in B2B and B2C companies providing IT and technology-enabled services, compliance and risk management, environmental and waste services, facility and field services, financial and payment services, distribution and logistics services, and professional services. The BS Fund I surpassed its original target of $150 million and raised $213 million from the firm’s existing investors, plus select new limited partners.

About Shore Capital Partners

Shore Capital, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services, and Real Estate industries. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic growth and growth through industry consolidation. Shore has $2 billion of equity capital under management through various investment vehicles. For more information, please visit: www.shorecp.com.

Shore Capital Partners Announces Several Senior-Level Promotions and New Hires on Investment Team

September 2, 2021

CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore”), a strategic private equity firm focused on microcap investing in the healthcare, food and beverage, business services and real estate industries, with offices in Chicago and Nashville, today announced four new hires and ten promotions at the senior level on its rapidly-growing investment team. These moves support Shore’s continued growth and recent closings of Shore Capital Healthcare Partners Fund IV ($366 million) and Shore Capital Business Services Partners Fund I ($213 million). Shore now manages a total committed capital base of $2 billion.

“Recognizing and attracting top talent is a critical part of our vision to be the premier microcap investor and first choice for entrepreneurs and executives seeking a growth partner,” said Justin Ishbia, Managing Partner. “I want to acknowledge all of our team members who contributed to Shore’s record deal volume in 2020 and recognition by Inc. Magazine as a Top Founder-Friendly Firm. To keep that momentum and to support our recent fund closings, we promoted several talented individuals and welcomed new members to the Shore team who are already making an impact as investors and strategic partners to our portfolio companies.”

Shore is proud to recognize the following senior-level investment team promotions.

  • Promoted to Principal, Business Services: Rory Kenny, Mickey Jiang and Matt Sweeney. As Principals, Kenny, Jiang and Sweeney will source, evaluate and enable the growth of investments, with a focus on making control equity investments in B2B and B2C companies providing IT and technology-enabled services, compliance and risk management, environmental and waste services, facility and field services, financial and payment services, distribution and logistics services and professional services.
  • Promoted to Principal, Food & Beverage: Tom Smithburg, Jeff Smith and Jeff Smart. As Principals, they will source, evaluate and enable the growth of investments, with a focus on making control equity investments in branded products, distribution, co-manufacturing and private label, packaging, related consumer goods and B2B services.
  • Promoted to Vice President, Healthcare: Jon Tomberlin, Mike Oleferchik, Alex Nevill and Ankeet Patel. In their new roles, Tomberlin, Oleferchik, Nevill and Patel will be responsible for conducting due diligence on new investment opportunities and implementing value creation initiatives within portfolio investments in the healthcare industry.

In addition, Shore welcomes the following new team members.

  • Vice Presidents: Matt Brown, Logan Pitts, Adam Pegram and Matt Matosian. As Vice Presidents focused on healthcare, Brown, Pitts and Pegram will source, evaluate and enable the growth of Shore’s investments. Brown is a recent graduate of Darden School of Business at the University of Virginia, and Pitts is a graduate of University of Michigan Ross School of Business. Pegram previously served as the Chief Financial Officer of Navia Benefit Solutions, a realized Shore investment. Matosian, a recent graduate of The University of Chicago Booth School of Business, will manage similar responsibilities for Shore’s food and beverage investments.

About Shore Capital Partners

Shore Capital, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services and Real Estate industries. Shore supports management partners with capital, business development expertise and industry knowledge to accelerate growth, fund acquisitions and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow and significant growth potential, including organic growth and growth through industry consolidation. Shore has $2 billion of equity capital under management through various investment vehicles. For more information, please visit: www.shorecp.com.

Shore Capital Partners raises $360 million health care fund, moving Nashville office to Broadwest

August 31, 2021

NASHVILLE--(NASHVILLE BUSINESS JOURNAL)--With nearly 30 portfolio companies, many in states like Alabama, Texas, Georgia and Florida, Shore Capital Partners Managing Partner Justin Ishbia knows the Southeast — and he knows where he’s putting his money.

“We have a huge Southeast focus … but we believe Nashville to be the capital of the Southeast,” Ishbia said. “We believe Nashville to be an extreme hotbed for health care talent and we want to double down and invest in that market.”

Shore has plenty of money to invest, having recently closed three new funds worth more than $700 million, including a more than $360 million health care fund, Ishbia said.

Part of that fund, which is Shore’s fourth dedicated to health care, will go toward launching a new Nashville health care company in the coming weeks.

Founded in 2009, the Chicago-based private equity firm has also raised a new $215 million business services fund and a $110 million real estate fund, giving Shore more than $2 billion of capital under management. The firm has 27 portfolio companies across the U.S. employing approximately 17,700 people.

Shore, which has about 16 local employees today, launched its Nashville office in 2019 with six people, including serial Nashville entrepreneur Michael Burcham. Since then the firm has invested in Nashville-based Southern Orthodontic Partners and is set to move into a new office inside the recently constructed Broadwest development on West End Avenue.

Ishbia said the new office is another example of Shore’s commitment to Music City. He said the firm has started an executive leadership program led by Burcham, in which orthodontists and other portfolio company executives from around the country travel to Nashville for leadership and business education, something many medical professionals don’t have when they open a practice.

The new health care company Shore plans to headquarter in Nashville will be similar to Southern Orthodontic, Ishbia said, in that he expects it to grow quickly over the next two to three years. While Ishbia couldn’t disclose much about the new venture because it is under letter of intent, he said company does have a CEO, who recently moved to Nashville.

As for the rest of the $360 million fund, Ishbia said Shore will continue its strategy of looking for small companies to which it can provide back office and strategic support to help them grow into large companies. The firm typically makes $10 million to $40 million initial majority investments in companies with less than $100 million of revenue.

He said Shore is particularly interested in the mental health, opioid addiction and veterinary space and how telehealth can help those sectors scale.

A “meaningful” portion of the health care fund will be Nashville investments, Ishbia said.

“In private equity, people invest in different ways. We’re not trying to find the next bio tech company that will create Moderna. That’s not what we do. We’re investing in stable businesses, often times still owned by the founder, looking to go from a local player to a regional player. That’s our sweet spot,” Ishbia said. “This playbook [is] bringing really experienced executives to relatively smaller business in very attractive markets. Anyone having a beer can go, ‘I see why mental health is becoming more important in the next decade.’ We aren’t rocket scientists to figure that out. … It’s the resources we’re bringing to these companies that makes the difference.”

As for Shore’s future in Nashville, there is a reason the firm is moving to a larger office.

“It’s more people,” Ishbia said. “Between Nashville and other growing cities … people want to live in this area. That’s why we are putting more and more resources into the Southeast, particularly Nashville. By the year 2040, I bet on Nashville being the capital of the Southeast.”

Golden Bear Therapy Partners Taps Industry Veteran Brent Mack as Chief Executive Officer

July 14, 2021

Golden Bear Therapy Partners (“Golden Bear” or “GBTP”), a leading provider of outpatient physical therapy and rehabilitation services, today announced the addition of industry veteran Brent Mack as Chief Executive Officer. Mack succeeds Bobby Ismail, who has taken on the role of Founder and President.

“Brent brings tremendous industry experience and operational expertise at a critical point in Golden Bear’s growth journey,” said Bobby Ismail. “In two years, Golden Bear has grown from under twenty clinics to 99 integrated locations. Brent’s experience leading large physical therapy organizations will be central to Golden Bear’s mission of expansion and delivering superior patient care. Additionally, Brent’s nearly 20 years of clinical, C-suite, and rehabilitation services experience will be incredibly valuable continuing Golden Bear’s growth strategy and success.”

Backed by Shore Capital Partners (“Shore Capital”), Golden Bear Therapy Partners consists of 99 clinics providing a comprehensive range of outpatient physical therapy services across California, Oregon, Washington, Arizona and Texas, with plans to expand throughout the U.S. Mike Cooper, Co-Founder and Partner of Shore Capital and Chairman of the Board of GBTP said, “Brent has a fantastic track record in multi-site healthcare and outpatient physical therapy and we are thrilled to bring him in as Golden Bear’s CEO. We are confident he will work with Bobby and the rest of the team at GBTP to enhance our growth and build a scaled, differentiated platform that is the partner of choice for physical therapists across the country.”

Mack, a licensed physical therapist, spent 18 years with ATI Physical Therapy where he helped grow the company from 1 clinic to over 800. Mack spent the bulk of his time as the Chief Operating Officer and was instrumental in the development and execution of the company’s strategy and operating model. “I’m grateful to be a part of the Golden Bear team. I’m looking forward to helping Golden Bear grow while maintaining a best in class culture and patient experience.”

Ismail, in his new role as Founder and President, will be instrumental in Golden Bear’s continued growth as well, applying several decades of clinical and business development experience in leading the company’s geographical expansion.

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Justin Ishbia, Shore Capital Managing Partner, named to Vanderbilt Board of Trust

May 11, 2021

The Vanderbilt University Board of Trust elected seven new members at its April 30 meeting. Dr. Makeba Williams Boatwright, BS’98; Sean Connolly, BA’88; Jennifer R. Frist, BS’93; George Huber, BA’79; Justin Ishbia, JD’04; Robert M. Levy, BA’72; and Conner Searcy, BA’96, will serve five-year terms beginning July 1. In addition, Kenya Wright, BA’18, will begin her two-year term on the board as a Young Alumni Leader on July 1.

“I am delighted to welcome our newest trustees, each of whom shares the board’s dedication to continuing to raise Vanderbilt’s profile as a global leader in teaching and discovery while preserving our One Vanderbilt spirit of collaboration,” said Bruce Evans, BE’81, chairman of the Board of Trust.

“Justin Ishbia is a rising star in the private equity industry who brings a deep skill set in investment and law to our board,” Evans said. “He shares our commitment to Vanderbilt’s continued advancement and will help us chart a course for the future.”

Ishbia is a member of the Law School Board of Advisers. In 2015, he established the Justin R. Ishbia Scholarship to provide financial support for deserving students at the Law School. He has been a guest lecturer at the Owen Graduate School of Management and recently delivered the opening keynote address at the Vanderbilt Entrepreneurship Conference.

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Shore Capital Partners 2020 Highlights

April 19, 2021

As we cross the finish line of 2020 and look forward with optimism to 2021, we are humbled by the perseverance and accomplishments of so many friends, families, operating partners, and the roughly 15,000 team members of Shore portfolio companies.

A few highlights from 2020 that we'd like to share:

1) Portfolio growth from 20 to 26 companies, as we welcomed the teams from Women's Health Group, Old World Spices and Seasonings, Northeast Health Services, Jaffe Sports Medicine, Tandem Family of Companies, Column Health, Together Women’s Health, and announced the sale of Florida Autism Center to BlueSprig Pediatrics.

2) Recognition from the investment community as a Top Founder-Friendly Firm and Most Active PE Firm in the world during the third quarter.

3) Formation of The Shore Capital Charitable Foundation to initially provide tax free financial assistance to individuals and families impacted by the COVID-19 crisis. Long term, the Foundation will help Shore portfolio company team members and families in a variety of ways.

For more information about what's happening at Shore Capital Partners, visit the News section of our website or follow Shore on LinkedIn and Twitter.

Please see important disclosures regarding Shore Capital awards and statistics on Terms of Use page.

Shore Capital Partners Announces Partnership With Innovative Packaging Company

March 30, 2021

CHICAGO & VANCOUVER, Wash.--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”) is pleased to announce it has completed a partnership with Innovative Packaging Company (the “Company” or “IPC”), a custom packaging solutions provider based in Vancouver, Washington.

Innovative Packaging Company was founded in 2012 by co-founders Jeremy and Matt Concannon as a full-service, value-add custom packaging distribution business. IPC’s core service offerings include packaging procurement, supply chain management, warehousing, and custom design services. The Company sells a diverse product mix including flexible packaging, fiber-based packaging, hardware, and labels into strong food and beverage end-markets.

Jeremy Concannon, President of IPC, noted, “We are excited about the partnership with Shore Capital given their playbook for explosive growth and track record of performance. IPC has developed a ‘go-to-market’ strategy for our customers that is un-matched, and we look forward to working with Shore to deliver our custom packaging supply chain and service programs to even more customers across the country.”

“We grew up in the packaging business and have lived and breathed it since we were teenagers. We are extremely proud of what our team has built and look forward to the next chapter as we continue to scale IPC into a premier packaging firm with a relentless focus on the customer,” said Matt Concannon, Vice President of IPC.

Shore plans to invest in the business development, sales and marketing, and operational infrastructure of the Company to help drive transformational growth. Together, IPC and Shore will explore opportunities for inorganic growth through acquisitions, and organic growth through continued best-in-class customer service and the acquisition of new attractive customers.

“We could not be more excited to partner with the entire IPC team and look forward to creating a leading US packaging solutions platform for small and medium customers with medium to high complexity packaging needs,” said Richard Boos, Partner at Shore Capital and Chairman of IPC. “Jeremy and Matt have built an excellent business focused on serving their customer’s unique packaging and distribution needs and we will work tirelessly with them to build on their success.”

Shore Capital Partners Announces Founding of Together Women’s Health

February 11, 2021

Strategic Partnership with Eastside Gynecology Obstetrics and Comprehensive Woman’s Care Includes Seven Locations in Southeast Michigan

February 11, 2021--CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore”), a private equity firm, is pleased to announce it has founded Together Women’s Health (“TWH”), through the completion of a strategic partnership with Eastside Gynecology Obstetrics (“Eastside”) and Comprehensive Woman’s Care (“Comprehensive”). TWH provides women’s health practices with administrative support, allowing physicians to focus on delivering the highest quality of patient care.

Eastside and Comprehensive are leading obstetrics and gynecology (“OB/GYN”) practices in the Detroit area, offering a full suite of services including mammography, lab, ultrasound imaging, skincare, and rejuvenation services. Eastside, led by Dr. Paul Nehra, son of the practice’s founder, has four locations: Macomb, Rochester, Grosse Pointe, and Roseville. Comprehensive, led by President Dr. Chad White, has three locations: Clinton Township, Chesterfield Township, and Detroit.

In the TWH partnership, each of Eastside’s and Comprehensive’s existing partner physicians will continue serving the community with leading clinical care. From Eastside: Dr. Nehra, Dr. John Knapp, Dr. Ben Chen, Dr. Deborah Hamby, Dr. Suzanne Hall, and Dr. Margot Abundis. From Comprehensive: Dr. Chad White, Dr. Raymond Quasarano, Dr. Angela Messina, and Dr. Lauren Mellor. Dr. Nehra will assume the role of Chief Medical Officer for TWH.

“We look forward to building a leading Midwest provider of women’s health services and becoming the partner of choice for independent physicians, which begins with Dr. Nehra, Dr. White and their teams,” said Mike Cooper, Founding Partner of Shore and TWH Chairman. “Eastside and Comprehensive have an outstanding reputation and vision for clinical excellence, which is a tremendous foundation to scale and build on their success.”

Dr. Paul Nehra said, “With healthcare ever-evolving and the inherent challenges of private practice, we felt it was time to collaborate with a strong business partner. Shore uniquely filled that role to shepherd us as the platform partner in Together Women’s Health. They have a fantastic record of enabling transformational growth, and our practice felt that this relationship would position us to be a future leader in women’s health.”

Anthony Ahee co-founded and will serve as CEO of TWH. Prior to TWH, Anthony founded Honor Equity, an entrepreneur-owned holding company formed to acquire and grow a limited number of healthcare businesses with significant growth potential. During this period he developed a thesis in women’s health and led the creation of Together Women’s Health. Mr. Ahee commented, “We created TWH to be a leading network of integrated women’s healthcare providers. By building on a foundation of clinical excellence, our best-in-class support services enhance care today and drive growth for the future. Together we are paving the way for a better women’s health community.”

TWH plans to grow its platform across the Midwest by supporting practices with operations, finance, accounting, marketing, human resources, and IT, thereby allowing physicians to focus on clinical excellence and serving their communities. TWH plans to pursue affiliations with independent women’s health practices and build a network of top clinicians in a physician-led culture. For more information on TWH, please visit togetherwomenshealth.com.

TWH represents the seventh platform investment out of Shore Capital Partners Fund III, L.P., a $293 million investment vehicle raised in April 2019.

Shore Capital Partners Invests in Tandem Family of Companies

January 27, 2021

Strategic Partnership with HR Technology and Solutions Leader Poised for Transformational Growth

January 27, 2021 --CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore”), a private equity firm focused on investments within the Healthcare and Food and Beverage industries, is pleased to announce an investment in the Tandem Family of Companies (“Tandem”).Tandem is a nationwide, full-service HR technology and solutions leader servicing small, mid-size, and enterprise companies. Tandem is currently comprised of four brands: Tandem HR, a professional employer organization (PEO) offering HR outsourcing solutions, two leaders in highly customized brokered benefits for groups and individuals, Benefit Solutions Group and Alliance Workplace Solutions, and Workplace Solutions, a provider of comprehensive employee assistance programs (EAP).

Powered by experienced professionals, Tandem HR has been the recipient of several awards in its 20-year history, including Best HR Companies, Top Workers’ Compensation & Disability Company, Crain’s Chicago’s Best Places to Work, Fastest 50 Growing Companies in Chicago, and numerous inclusions on the Inc. 5000 list.

Bruce Leon, Founder of Tandem, noted “We are thrilled about this partnership and how it will accelerate our growth by delivering additional value to current and new clients through investment in technology, pricing power, and expansion of products and services in the HR solutions, health and workers compensation insurance markets.”

“Tandem has a tremendous track record providing high-value, high-touch client service while expanding its geographic capabilities and customer solutions,” said Ryan Kelley, a founding Partner of Shore. “We are well-positioned to continue this path to success by investing in the transformational growth of Tandem’s products, services, and geographic reach.”

“The partnership with Shore starts the next chapter of the growth of our organization and our business and I couldn’t be any more pleased about the opportunities that lie ahead for our colleagues, clients and partners alike,” says Salo Doko, President & COO. “Through a careful process, we found in Shore the right partner to make our shared strategy of geographical expansion and profitable growth come to life”.

To support Tandem’s strategic growth plan, Shore assembled an industry-leading Board of Directors. Notably, Greg Slamowitz, the former Co-CEO and Co-Founder of Ambrose Employer Group, from 1997 through a successful sale to TriNet in 2013, has joined the board and contributed a material equity co-investment. “Shore and Tandem are excited to have Greg join the Board to help lead Tandem through a period of rapid growth and expansion,” said Mr. Kelley.

About Tandem HR

Tandem HR provides custom, high-touch Fortune 500 caliber human resources to small, mid-sized and enterprise businesses throughout the United States. By managing the administrative aspects of human resources such as payroll processing, benefits administration, compliance, risk management, employee relations etc., Tandem’s HR experts allow client executives to focus on growing their businesses. Learn more about how Tandem HR can help your business at www.tandemhr.com or call 630-928-0510 today.

About Shore Capital

Shore Capital Partners is a Chicago-based private equity firm focused on microcap Healthcare and Food and Beverage investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has $1.1 billion of equity capital under management through various investment vehicles. For more information on Shore, please visit www.shorecp.com.

Shore Capital Partners Adds Justin Bentley to Lead Capital Markets

December 18, 2020

Private Equity Firm Makes Strategic Hire to Support Growth

December 18, 2020 --CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore”), a private equity firm focused on microcap investments within the Healthcare and Food and Beverage industries, is pleased to announce Justin Bentley has joined the firm as Head of Capital Markets.

Justin is responsible for leading the firm’s capital markets efforts, including the financing activities of all new investments and portfolio companies, as well as developing and managing banking and intermediary relationships.

"It is my pleasure to welcome Justin to Shore," said Justin Ishbia, Managing Partner. "His impressive track-record and deep understanding of capital markets will be a key enabler of our growth at Shore and portfolio companies. We look forward to Justin’s continued success and leadership.”

“Shore has developed a unique and highly effective approach that has produced tremendous results,” said Mr. Bentley. “We are extraordinarily well-positioned for sustained success, and I am thrilled to join the team to lead our capital markets efforts and contribute to our growth.”

Mr. Bentley joins Shore with 16 years of leveraged finance experience. He most recently served as a Director at Vista Credit Partners, where his responsibilities included capital raising and the sourcing, evaluation, and execution of credit investments in software and technology companies. Prior to Vista, Justin was a Director at Madison Capital Funding and was responsible for all aspects of direct lending investments as well as building the firm’s asset management and CLO platforms. After earning his B.S. in Finance from the University of Illinois, Justin started his career as a Derivatives Analyst on the Chicago Board of Trade floor.

About Shore Capital Partners

Shore Capital Partners is a Chicago-based private equity firm focused on microcap Healthcare and Food and Beverage investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has $1.1 billion of equity capital under management through various investment vehicles. For more information on Shore, please visit www.shorecp.com.

Shore Capital Partners Announces Partnership with Old World Spices and Seasonings

November 19, 2020

November 19, 2020 06:30 AM Eastern Standard Time

CHICAGO & OVERLAND PARK, Kan.--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”) is pleased to announce it has completed a recapitalization of Old World Spices and Seasonings (the “Company” or “Old World”), a manufacturer of custom ingredient solutions based in Overland Park, Kansas.

Founded in 1988 as Industrial Ingredient Sales, Inc. by John Jungk, Old World is a manufacturer of custom blended spices, seasonings, ingredients, dry food products, and sauces for the retail, foodservice, and industrial channels. Old World operates out of an SQF certified 78,000 sq. foot manufacturing facility in Concordia, Missouri. The Company also maintains a corporate office and R&D center in Overland Park, Kansas. The Company offers R&D and co-development support, flexible and nimble manufacturing services, and diverse packaging options to its valued customers.

Shore Capital is partnering with the Company’s management team, which has helped guide Old World through a period of tremendous expansion since setting out on a new growth strategy in 2013.

“We are thrilled to announce our partnership with Shore Capital, and we are confident our combined teams, networks, and resources will further enhance our ability to provide best-in-class service, innovative solutions, and quality products to our customer partners,” said Russ Meinhardt, CEO of Old World. “Our team is eager to capitalize on the significant opportunity for growth and consolidation in the spices, seasonings, and specialty ingredients space, and we look forward to working with the Shore team to maximize our potential.”

Shore plans to invest in the business development, research and development, sales and marketing, and production infrastructure of the Company to further refine operations. Together, Old World and Shore will explore opportunities for inorganic growth through acquisitions, and organic growth through adjacent product lines, manufacturing capabilities, and distribution channels.

“John, Walt, Russ, Amy, Beth and the rest of the Old World team have built an amazing business and we are truly honored to partner with them in the next exciting chapter of growth,” said Richard Boos, Partner at Shore Capital and Chairman of Old World. “We look forward to building the business with a keen focus on existing customer partnerships and expansion into new relationships.”

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