Tag Archives: Industry

KKR Leads Financing for Harvest Partners’ Growth Investment in Med-Metrix

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that credit funds and accounts managed by KKR served as lead investors on a financing to support the growth investment from funds managed by Harvest Partners, LP (“Harvest”) in Med-Metrix, LLC (“Med-Metrix” or “the Company”), a leading provider of technology-enabled Revenue Cycle Management (“RCM”) solutions. KKR Capital Markets also served as Left Lead Arranger and Bookrunner on the transaction.

The Company’s management team, led by CEO Joseph Davi, will continue to lead Med-Metrix and remain significant owners of the business. Med-Metrix’s prior owner, A&M Capital (“AMC”), will retain a minority stake in the Company and invest additional capital as part of the transaction.

Founded in 2010 and based in New Jersey, Med-Metrix is a leading platform providing RCM services and technology to health systems and physician groups across the United States. The Company offers end-to-end and point solution services supported by its proprietary technology platform.

Credit funds and accounts managed by KKR originally served as the sole lenders in the financing for AMC’s acquisition of Med-Metrix in 2021.

“Our long-standing relationships with Med-Metrix, Harvest, and AMC allowed us to move quickly and with conviction to seamlessly deliver a scaled solution for this transaction,” said Alexander Foreman, a Managing Director at KKR. “We are pleased to further deepen our commitment to Med-Metrix as part of this milestone growth investment, which serves a testament to the remarkable success of Joe and the entire team in expanding the Company’s reach and building out its comprehensive suite of offerings to serve even more healthcare systems and providers across the country.”

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Med-Metrix

Med-Metrix is a leading technology-enabled services platform providing RCM and Business Intelligence (“BI”) solutions for health systems and physician groups across the United States. Med-Metrix provides end-to-end as well as point solution RCM and BI services via the Company’s proprietary software platform. More information is available at www.med-metrix.com.

About Harvest Partners

Founded in 1981, Harvest Partners is an established private equity firm with over 40 years of experience investing in middle-market companies and partnering with high-quality management teams to build growing businesses. For more information, please visit www.harvestpartners.com.

About A&M Capital

A&M Capital is a multi-strategy private equity investment firm with over $6.0 billion in total commitments across its funds, vehicles, and accounts. The firm is led by a highly experienced investment team, which is augmented by a strategic association with A&M Consulting, a leading global operationally focused advisory firm. A&M Capital combines a focus on middle-market private equity investing with deep operational expertise, industry knowledge, and global corporate relationships, making A&M Capital an attractive partner to management teams and business owners. A&M Capital is headquartered in Greenwich, CT, with offices in Los Angeles, CA, West Palm Beach, FL, London, UK, and Milan, IT. For more information, visit www.a-mcapital.com.

Lauren McCranie
media@kkr.com

Source: KKR

 

Download PDF

Categories: News

Tags:

AE Industrial Partners Establishes Aerospace MRO Services Platform with Investment in Air Transport Components

Ae Industrial Partners

Partnership with ATC launches a specialized component MRO platform with repair capabilities across a wide range of commercial, cargo, and military aircraft

BOCA RATON, Fla.–(BUSINESS WIRE)–AE Industrial Partners, LP (“AE Industrial”), a private investment firm specializing in national security, aerospace, and industrial services, today announced the acquisition of Air Transport Components (“ATC” or “the Company”), a provider of aircraft component maintenance, repair, and overhaul (MRO) services. ATC will be the cornerstone of a new platform offering a full suite of aviation component and accessories repair services for the commercial, cargo, and military markets. This partnership builds upon AE Industrial’s history of successful investments in the aviation aftermarket, which includes Yingling Aviation, AIM MRO and Kellstrom Aerospace, among others. Financial terms of the private transaction were not disclosed.

Founded in 1998, ATC specializes in the repair and overhaul of critical aerospace components, possessing strong technical expertise across engine mounts, landing gear, hydraulics, airframe and structures, tracks, flight controls, electrical components, and avionics. With over 100,000 square feet of capacity across three state-of-the-art facilities in Gilbert, Arizona, and Tulsa, Oklahoma, the Company delivers component repair services for nearly every major U.S. commercial airline. With over 1,000,000 components repaired in the last 25 years, ATC offers a breadth of creative repair solutions that combine its differentiated technical capabilities with enhanced technology and excellence in customer service.

“As the global installed base of aircraft grows and production constraints for new aircraft persist, keeping older aircraft operational longer, while continuing to service active fleets, has become a critical necessity. This is a dynamic that ATC is well positioned to address due to their extensive capabilities, deep technical knowledge, proven responsiveness, and safety record,” said Bryan McElwee, Partner at AE Industrial. “The Company has built an outstanding reputation and serves a deeply entrenched, blue-chip client base. We’re excited to partner with the experienced team at ATC and expand the platform’s portfolio of services, both organically and through acquisitions, establishing a truly market leading MRO platform.”

“We have already developed a very strong relationship with AE Industrial and look forward to working with them closely to scale the platform and build on our strong position,” said Jimmy Newman, CEO of Air Transport Components. “Their deep operating expertise, network of relationships within the aerospace community, and track record of building highly successful businesses make them the ideal partner to help us capitalize on exciting opportunities in the MRO space.”

EY served as financial advisor to AE Industrial on the transaction, while Akerman LLP served as legal advisor.

About AE Industrial Partners:
AE Industrial Partners is a private investment firm with $6.4 billion of assets under management focused on highly specialized markets including national security, aerospace, and industrial services. AE Industrial Partners has completed more than 130 investments in market-leading companies that benefit from its deep industry knowledge, operating experience, and network of relationships across the sectors where the firm invests. With a commitment to driving value creation in partnership with the management teams of its portfolio companies, AE Industrial Partners invests across private equity, venture capital, and aerospace leasing.

About Air Transport Components:
ATC was founded in 1998 and specializes in the repair and overhaul of components and accessories for both commercial and military air transport aircraft. The company handles all repairs, engineering, quality control testing, and refinishing in-house at its state-of-the-art facilities, totaling over 100,000 square feet, located in Gilbert, Ariz., and Tulsa, Okla. ATC Gilbert, ATC Tulsa, and Unicorp Systems are all integral parts of the overall ATC business, working together to provide innovative solutions and exceptional services. Each division plays a unique role in the company’s overall operations, contributing to its growth and success.

Media Contact:
Stanton Public Relations & Marketing
Matt Conroy
mconroy@stantonprm.com
(646) 502-3563

Categories: News

Tags: