WESTPORT, Conn., May 20, 2024 /PRNewswire/ -- Balance Point
Capital Advisors, LLC ("Balance Point"), in conjunction with its
affiliated funds, Balance Point Capital Partners V, L.P. and
Balance Point Capital Partners VI, L.P., is pleased to announce its
investment in SG Homecare ("SG", or the "Company"), a portfolio
company of Sverica Capital ("Sverica"), a Boston, MA based private investment firm.
Continuing its position as a leading provider of flexible capital
to the lower middle market, Balance Point arranged debt financing
to support the Company's acquisition of Western Drug ("Western"),
retire existing debt and provide capital for future working capital
needs.
Founded in 2001, SG is a provider of durable medical equipment
("DME"), disposable medical supplies, and related services with 16
locations throughout California.
The Company has a demonstrated track record operating the capitated
revenue model, which has been well-received among large physician
networks managing thousands of lives. Founded in 1977, Western is a
DME and medical supplies provider in Southern California with 9 locations,
generating the majority of its revenue from its large
fee-for-service customer base.
"Balance Point is excited to support SG's continued growth and
the acquisition of Western. Through this combination, SG has
further strengthened its position as a leading DME provider in
California," said Balance Point
Partner Adam Sauerteig. "The combination of both SG and Western
provides a clear value proposition within the DME space in
conjunction with significant synergies and operating
efficiencies".
Jay Wendt, CEO of SG, said
"Balance Point is a valuable financing partner that worked
diligently to understand our business and the opportunity at hand.
We look forward to partnering with them as we integrate the
businesses and continue to pursue our growth objectives."
"We are thrilled to work with Balance Point again and look
forward to a productive partnership in support of the Company,"
added Doug Patrican, Vice President
at Sverica.
About Balance Point
Balance Point is an alternative
investment manager focused on the lower middle market. With
approximately $2.1 billion in assets
under management, Balance Point invests debt and equity capital in
select lower middle market companies across a variety of investment
vehicles. Balance Point takes a long-term, partnership approach to
investing and is committed to building lasting relationships with
its partners, management teams and intermediaries.
Balance Point is a registered investment advisor. Further
information is available at www.balancepointcapital.com.
About SG Homecare
Founded in 2001 and headquartered in
Tustin, CA. SG Homecare is a
provider of DME, disposable medical supplies, and related services
(including custom rehab, wound care, and O&P products)
throughout California. For more
information visit www.sgdme.com
Media Contact:
Adam H. Sauerteig
Office: 203-652-8555
asauerteig@balancepointcapital.com
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SOURCE Balance Point Capital