Yearly Archives: 2005

Edgewater Invests in Wound Care Industry

Edgewater Private Equity Funds, LP today announced it has partnered with management in the buyout of Praxis Clinical Services, Inc. (“PRAXIS” or “Company”).

PRAXIS is a rapidly growing wound care service provider company focused on providing acute-care hospitals with the most appropriate and advanced resources and technologies to support optimal outcomes for patients with chronic non-healing wounds.

“Edgewater’s resources and strategic leadership are a perfect fit for PRAXIS,” according to President and CEO, Jack Rollins. “We look forward to working with our new partners and appreciate the strategic value of Bolder, which will allow us to achieve our long-term strategic growth plan.”

“We are very excited to have the opportunity to partner with the PRAXIS management team and believe that PRAXIS has the unique opportunity to enhance and further develop the wound care service provider industry with exciting new service offerings in large and growing markets,” said Greg Jones, Edgewater Partner.

About Praxis Clinical Services 

Praxis Clinical Services provides management services for the development, implementation and operation of Comprehensive Wound Healing Centers. These centers are designed as outpatient departments in hospitals and are committed to the successful treatment and prevention of chronic, non-healing wounds.

Last year over 14,000 patients were treated in Praxis Clinical Services managed Comprehensive Wound Healing Centers through out the United States. This represents over 105,000 patient visits demonstrating our extensive experience in delivering state of the art wound care. Overall wound healing rates in Praxis Clinical Services centers exceed 90% for patients who have previously failed care in other healthcare settings. And, Praxis Comprehensive Wound Healing Centers have received a 99% Patient Satisfaction rating for 2004.

Today PRAXIS has 60 centers across the USA located in 28 states representing over 20,000 licensed hospital beds.

Mid America Recycling Company Announces Purchase of Vista Fibers

Mid America Recycling Company (MARC), one of the nation’s largest multi-material recycling companies, in conjunction with Edgewater Growth Capital Partners, LP, today announced the purchase of Vista Fibers, headquartered in Dallas, TX. Vista Fibers, with five recycling plants in Dallas, Houston and San Antonio, Texas, and New Orleans and Hammond, Louisiana, is a long-time regional leader in the paper recycling industry. Vista Fibers, while now wholly owned by MARC, will retain its name.

“Vista Fibers is a very fine, well-operated company that will add significant value to our customers and shareholders,” said Brian Meng, president of MARC. “The addition of their locations to our existing geographic plant structure offers our customers even greater flexibility in marketing recycled paper.”

“In evaluating potential buyers, we found Mid America Recycling Company to most nearly reflect the values of Vista Fibers,” said Tom Lyon, president of Vista Fibers. “We are thrilled to take Vista Fibers to the next level with Mid America Recycling.”

“We are very excited to continue our strategy in the recycling industry in partnership with the outstanding leadership of Brian Meng and the MARC management team,” said Greg Jones, Edgewater Partner. “Mid-America’s reputation as the industry leader will continue with the acquisition of Vista Fibers and its expansion in Texas and Louisiana.”

About Mid America Recycling 

Mid America Recycling, one of the nation’s largest recycling companies with plants and facilities across America, is a multi-material recycling company processing more than 1 billion pounds of paper, plastics, metals and glass annually. From its corporate headquarters in Des Moines, Iowa, the company is pursuing an aggressive growth strategy while providing recycled materials for end users around the world. In addition to providing expertise in creating cost-effective, quality-driven recycling programs for waste haulers, landfills, cities and governments, the company also provides patented physical plant design, equipment manufacturing and environmental analysis. For more information please visit www.midamericarecycling.com.

Edgewater Leads $12.0 million Financing for FishNet Security

FishNet Security, Inc. (“FishNet”), the largest privately held network security solutions company in North America, announced today $12 million of equity financing by Edgewater Growth Capital Partners, L.P. (“Edgewater”). This investment allows the Company to continue its history of strong organic growth as well as provides substantial additional capacity for growth through acquisitions.

“We scoured the market to find the best partner to help us substantially grow our business. With the growth capital infusion and operating expertise from Edgewater, we’re well on our way to achieving our leadership vision in the rapidly growing security services market.” according to Gary Fish, FishNet’s CEO. “The Edgewater Edgewater team will be an invaluable contributor to our strategy.”

FishNet Security’s services include assessment, consulting, integration, management, monitoring and education for enterprise network security needs. The Company has developed a strong customer base among mid-sized companies, and federal, state and local governments. FishNet has been able to achieve deep penetration with multiple security services offerings and strong name recognition throughout its targeted Midwest market. The Company operates through seven offices with its headquarters in Kansas City and is planning to open additional offices in 2005.

“We are very excited to have the opportunity to invest in FishNet,” said Greg Jones, Partner at the Edgewater Funds. “FishNet fits squarely within Edgewater’s core investment philosophy to invest in high quality, growth companies with excellent management teams.”

“FishNet’s breadth of services, open-ended market opportunity, excellent reputation and longstanding customer relationships help to propel what we feel is an exceptional investment opportunity,” said Jeff Frient, Principal at the Edgewater Funds

For additional information visit: www.fishnetsecurity.com.