News, Recent Transactions, and Investment Announcements

CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”), a private equity firm focused on microcap investments within the healthcare, food and beverage, and business services industries, is pleased to announce the formation of Empower Aesthetics (“Empower” or the “Company”), a new national aesthetics platform headquartered in Austin, Texas.

Backed by Shore Capital, Empower provides the tools, support, and strategy needed to empower aesthetics practices to reach new heights while maintaining the highest quality of care. Together, Empower and Shore will explore opportunities for growth through new partnerships and business development in the medical aesthetics space.

“We are excited to enter the medical aesthetics space and look forward to building a renowned platform focused on delivering high quality care at scale in partnership with Empower,” said Logan Pitts, Vice President at Shore Capital. “Shore has a significant history of success in the healthcare industry, and we plan to apply the same principles to enable Empower to grow bigger, stronger, and faster through partnerships with top-tier providers and training the next generation of talent.”

Empower is launching with an experienced management team that is led by Chief Executive Officer Jeff Helfgott, a seasoned executive with decades of experience rapidly growing multi-site, consumer, and healthcare services businesses.

“I am thrilled to partner with Shore to find medical aesthetic providers who share Empower’s vision to transform the aesthetics industry,” Helfgott said. “We are energized by the opportunity to help define the future of the industry by investing in high quality businesses and building authentic relationships with our patients, providers, and industry partners.”

John Hennegan, Partner at Shore Capital, added, “Our partnership with the entire Empower team provides the foundation to build a rapidly growing aesthetics platform. Shore’s unmatched experience in multi-site healthcare will allow us to quickly identify best-in-class acquisitions and new markets for service.”

Bolstered by a world-class Board of Directors who have experience in growing healthcare businesses, direct-to-consumer marketing, brand building, and luxury guest experiences, the Empower leadership team is dedicated to helping the platform’s individual brands thrive by rapidly scaling their brands through Empower’s resources, tools, and expertise.

To learn more about Empower Aesthetics, please visit www.empower.spa or email info@empower.spa.

About Shore Capital Partners

Shore Capital, a Chicago-based private equity firm with offices in Nashville, is an investor in microcap companies in the Healthcare, Food and Beverage, Business Services, Industrial, and Real Estate industries. Shore’s strategy is to support management partners to grow faster with less risk, through access to capital, world-class board and operational resources, and unmatched networking, development, and shared learnings across the portfolio. For the third consecutive year in 2022, Shore received recognition from Inc. Magazine as a top founder-friendly investor, and by Pitchbook research for leading all U.S. Private equity firms in total deal volume. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant potential to grow through industry consolidation and organic growth to generate value for shareholders. Shore has approximately $3 billion of cumulative capital commitments through various investment vehicles. For more information, please visit: www.shorecp.com.

About Empower Aesthetics

Empower Aesthetics is a national aesthetics platform that provides the tools, support, and strategy to empower aesthetic owners and practices to reach new heights while maintaining the highest quality of care. Headquartered in Austin, Texas, Empower is looking for providers with whom to partner and grow the right way. To learn more about Empower Aesthetics, please visit www.empower.spa or email info@empower.spa.

Contacts

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

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CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”), a Chicago-based private equity firm focused on microcap investing, is pleased to announce the sale of Innovia Medical (“Innovia”), a specialty single-use surgical essentials and instrument protection products company, to Inverness Graham, a Philadelphia-based buyout firm that acquires innovative, high-growth businesses.

Shore Capital formed Innovia Medical through the initial acquisitions of Summit Medical, Inc. (“Summit Medical”) in February 2015, and Shippert Medical Enterprises, LLC (“Shippert Medical”) in October 2015. Shore appointed long-time healthcare operator Terry Meredith as CEO of Innovia, who led the expansion of the company with the acquisition of six additional businesses, bolstering the platform’s strategic positioning, product portfolio and customer reach. Today, Innovia Medical is a global provider of single-use surgical essentials and sterile processing products with a manufacturing footprint in the United States and United Kingdom.

“Innovia’s success to-date can be attributed to the strong alignment of the platform’s founders and employees with the strategic direction that Terry expertly led,” said Don Pierce, Partner at Shore and Chairman of the Board of Innovia. “We are pleased to have supported the development of Innovia into one of the leading medical device platforms in the specialty surgical market, and we believe that the company is well-positioned for continued growth.”

“Our partnership with Shore has been invaluable,” said Terry Meredith, Chief Executive Officer of Innovia. “The firm was integral to our growth strategy, helping to build Innovia into a global provider of sought-after brands, ultimately improving outcomes for the patients we serve. We are excited about our next chapter and look forward to capturing future growth opportunities in partnership with Inverness Graham.”

The transaction closed on March 31, 2023. Piper Sandler & Co. served as financial advisor to Innovia and Winston & Strawn LLP served as legal advisor to Shore Capital and Innovia on the transaction. Faegre Drinker Biddle & Reath LLP served as legal advisor to Inverness Graham.

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.

About Innovia Medical

Innovia is a family of specialty surgical companies that are passionately committed to partnering with medical professionals to help elevate the delivery of patient care and improve clinical outcomes. Innovia has built a diverse portfolio of 550 products backed by strong intellectual property and supplies medical products to facilities in over 70 countries. For more information, please visit https://innoviamedical.com/.

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Contacts

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

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CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”), a Chicago-based private equity firm focused on microcap investing within the food and beverage, healthcare, and business services industries, is pleased to announce it has completed a partnership with Container Services, Inc. (“CSI” or “The Company”), a custom blow molder of rigid plastic containers based in Hillsboro, Kansas, with a second location in New Castle, Pennsylvania.

CSI was founded by Darrell Driggers in July 1991 to provide custom plastic bottles to honey producers, including their iconic “honey bear” bottle. Since the Company was founded, CSI continued to expand its product offerings and manufacturing capabilities, and grew into a leading manufacturer of high-quality, custom containers for customers in the food and beverage, household products, and automotive industries. The Company specializes in the production of PET (polyethylene terephthalate) and HDPE (high-density polyethylene) blow-molded plastic containers and has expertise working with post-consumer recycled plastic resins.

Today, CSI has over 100 employees, and more than 150,000 sq. ft. of manufacturing space, while maintaining excellent customer service and providing sophisticated, innovative and reliable plastic packaging solutions. Darrell Driggers’ son, Brent Driggers, joined the Company in 2015 and currently serves as CEO. He will continue in his role as CEO of CSI.

Regarding Shore Capital’s partnership with CSI, Brent Driggers said, “I am extremely proud of what our team has accomplished at CSI. Our partnership with Shore Capital will enable us to invest further in our team and continue improving our production capabilities. Most importantly, this partnership with Shore ultimately enables us to better serve our customers.”

Richard Boos, Partner at Shore, said, “We are very excited about partnering with CSI. Brent and his high-caliber team have built an incredible company with an excellent reputation in the rigid plastic packaging sector. We look forward to providing the CSI team with resources to help the Company to grow bigger, stronger and faster.”

Shore plans to build upon CSI’s strong team and high-quality manufacturing capabilities by investing in the business development, sales and marketing, and operational infrastructure of the Company to help drive transformational growth. Upon closing the partnership, Katie Bush and Ryan Drews joined CSI’s management team as Chief of Staff and VP of Strategic Initiatives, respectively, as part of Shore Capital’s CXO Executive Program. This program seeks to place highly motivated and hungry young executives into management positions throughout the country with the mentorship and support needed to succeed, mature and grow into C-level executives. Together, CSI and Shore will explore opportunities for inorganic growth through acquisitions of rigid plastic container manufacturers and organic growth through continued best-in-class customer service, new customer partnerships, and expanded offerings to existing customers.

Tom Smithburg, Principal at Shore, said, “We look forward to working closely with Brent and the rest of the CSI team to achieve our shared vision of providing customers with best-in-class custom rigid plastic packaging throughout the United States.”

To learn more about partnerships with CSI, please visit https://www.csibottles.com/ or contact Ryan Drews (rdrews@csibottles.com).

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.

About Container Services, Inc.

Container Services, Inc. (“CSI”) is a premier manufacturer of rigid plastic packaging services, specializing in the production of PET containers and HDPE containers for specialty food & beverage and other manufacturers. Backed by Shore Capital, CSI is supported by a World-Class Board of Directors, with deep experience across packaging, operations, and private equity. For more information, please visit: https://www.csibottles.com/.

Contacts‍

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

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CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”), a Chicago-based private equity firm focused on microcap investing, is pleased to announce the sale of Argentum Medical (“Argentum”), a provider of infection prevention solutions and wound care products, to BioDerm, a portfolio company of Mountaingate Capital.

Shore partnered with Argentum in 2017 with the goal of creating a leading manufacturer and distributor of advanced wound care products. Led by Chief Executive Officer Raul Brizuela, the Argentum team created a differentiated portfolio of silver-plated dressings and antimicrobial cleansers. Argentum’s products are utilized by a diverse customer base that includes the U.S. military, international accounts in over 30 countries, and approximately 2,000 domestic hospitals.

“Shore Capital is immensely proud of what Raul and the management team built,” said Don Pierce, Partner at Shore and Chairman of the Board at Argentum. “We are excited for Argentum to continue providing significant value to the healthcare system as an international industry leader in infection prevention management.”

“Shore Capital was an invaluable partner committed to the success of Argentum and its team,” said Brizuela. “Together, we aspired to improve the quality of service and outcomes for patients, while decreasing the cost of care and mitigating risk. I am thrilled to see the impact of our products and look forward to furthering these results in our next stage of growth.”

The transaction closed on January 31, 2023. Moelis & Company served as financial advisor to Argentum and Winston & Strawn served as legal advisor to Shore and Argentum.

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.

About Argentum

Based in Geneva, IL, Argentum is a provider of infection prevention solutions for the management of wounds. Notably, it manufactures Silverlon® (“Silverlon”), a silver-plated nylon dressing with unique antimicrobial properties. Argentum’s product lines include surgical, burn care, wound care, negative wound pressure therapy, dressings for IVs and catheters, and antimicrobial skin and wound cleansers. For more information, please visit https://www.argentummedical.com.

About Mountaingate Capital

Mountaingate Capital, a Denver-based private equity firm invests in the marketing services, business services, specialty distribution and specialty manufacturing sectors. Mountaingate specializes in building and empowering companies with strong growth potential and engaged leadership teams. Mountaingate’s focus on organic growth coupled with its proven customer-centric buy-and-build approach and shared equity ownership with management creates more value for the end customer, while forging stronger, more collaborative, and more successful partnerships with management teams. Mountaingate targets investments in new platform companies with $5 million to $25 million of EBITDA, as well as add-on acquisitions of any size. For more information on Mountaingate, please visit www.mountaingate.com.

Contacts

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

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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

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CHICAGO--(BUSINESS WIRE)--Shore Capital Partners, (“Shore” or “Shore Capital”), a strategic private equity firm focused on microcap investing in the healthcare, food and beverage, and business services industries, with offices in Chicago and Nashville, has been named one of Inc.’s Founder-Friendly Investors for the third year in a row. Inc.’s annual list recognizes private equity and venture capital firms that entrepreneurs collaborate with and trust as they receive the financial support needed to help drive growth. All firms named to the list have successful track records of remaining actively involved with the businesses they invest in.

“We take great pride in being named to Inc.’s Founder-Friendly Investors list for the third year in a row,” said Justin Ishbia, founder and Managing Partner of Shore. “Our vision is to be the first choice of entrepreneurs seeking a growth partner and this recognition is a testament to the years of hard work and strategy to help founders grow into regional and national powerhouses. We believe the next ten years of private equity is all about operations and our team is designed to help great small and medium companies grow bigger, stronger, and faster with less risk.”

A unique offering within the microcap market, Shore’s dedicated team of over thirty operating professionals as of the release date, provide resources to portfolio companies to de-risk decision making and accelerate growth. The scale of this team is traditionally accessible only to mid- and large-cap companies. In addition to direct support of individual companies, the resource team promotes collaboration between leaders across the portfolio, organizes networking and development events, and meets regularly to share experiences and collaborate on common challenges operators face today.

“Fully investing in an entrepreneur, and their innovative vision, involves far more than the financial investment. By developing relationships with and supporting entrepreneurs for the long-term, these private equity firms are more than investors, they’re partners,” added Scott Omelianuk, editor-in-chief of Inc.

To compile the list, Inc. went straight to the source: entrepreneurs who have sold to private equity and venture capital firms. Founders filled out a questionnaire about their experiences partnering with private equity and venture capital firms and shared data on how their portfolio companies have grown during these partnerships.

To see the complete list, go to: https://www.inc.com/founder-friendly-investors/2022. The October 2022 issue of Inc. magazine is available online at https://www.inc.com/magazine and on newsstands now.

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.

About Inc.

The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community they need to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

Contacts

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

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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.”

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

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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

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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

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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.

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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.

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.

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

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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.

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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.

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 (“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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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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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.

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