Yearly Archives: 2018

Edgewater forms specialty packaging platform

Edgewater Growth Capital Partners IV, L.P. is pleased to announce that its newly formed portfolio company Advanced Converting Works Holdings, LLC (“ACW”) has recently completed the simultaneous acquisitions of Illinois-based packaging company Phoenix Converting, Inc. (“Phoenix”) and Wisconsin-based packaging company VPS Holdings, Inc. (“Valley”). ACW is led by Chris Wrobel, a highly accomplished senior executive who has extensive commercial, operational and acquisition experience within the packaging industry.

Phoenix operates as a specialty converter of pouch packaging primarily used in medical and food applications. The company has established a strong niche in the paper-poly/foil-poly substrate for medical applications and possesses upstream capacities in film conversion (printing, coating, laminating and slitting). Valley also operates as a specialty converter of plastic pouch packaging, differentiating through technical and production capabilities in complex formats such as box-pouch, spouted pouches and custom-shaped packaging.

ACW is targeting additional acquisitions of packaging companies with a focus on pouch conversion services that can broaden its capabilities and end markets.

Homecare Holdings, LLC acquires Family Home Health Services, its first acquisition in the home care sector

Family Home Health Services

Edgewater Growth Capital Partners IV, L.P. is pleased to announce that its newly formed portfolio company Homecare Holdings, LLC (“HCH” or the “Company”) has recently completed the acquisition of Family Home Health Services (“FHHS”), a Florida-based home health agency. The Company is led by Judy Bishop, a highly accomplished senior executive who has successfully built, operated and exited four businesses throughout her 30+ year career in the home health, hospice and post-acute sector. HCH is targeting acquisitions of home health and hospice companies focused on clinical excellence and high quality patient care.

FHHS provides in-home skilled nursing care across 31 counties in Florida, servicing the East Coast of Florida, the Tampa Bay area and the majority of Southwest Florida. The acquisition of FHHS allows the Company to advance its focused growth strategy through geographic and service line expansion.

HCH is actively pursuing a pipeline of acquisitions that will increase its geographic coverage across the U.S., as well as the breadth of services provided to its patient base.

Edgewater Announces Sale of Bolder Healthcare Solutions

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Edgewater Growth Capital Partners III, L.P. (“Edgewater”) is pleased to announce the recent sale of its portfolio company Bolder Healthcare Solutions (“BHS” or the “Company”).  Headquartered in Louisville, KY, BHS is the leading provider of revenue cycle management (RCM) solutions to hospitals, physician practices and other specialist healthcare organizations in the United States. BHS provides RCM solutions for hospitals, hospital outpatient departments, physician practices, and other specialty care providers.  RCM software and processes integrate and automate healthcare administrative and medical data to ensure benefit eligibility and accurate billing and collections, greatly reducing the time between delivery of service to payment received.  BHS was acquired by Cognizant (Nasdaq: CTSH), a leading professional services company.

Edgewater formed BHS in July 2012 with Mike Shea, a seasoned healthcare executive with over 25 years of experience in the RCM sector, and its co-investor JZ Capital Partners.  During the investment period, BHS completed and integrated nine strategic acquisitions that expanded the Company’s specialized RCM offerings to provide end-to-end solutions to hospitals, physicians and other healthcare organizations.

 

Edgewater Announces Sale of Paragon Water Systems

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Edgewater Growth Capital Partners III, L.P. (“Edgewater”) is pleased to announce the recent sale of its portfolio company TWH Filtration Industries, Inc. (“Paragon” or the “Company”) to a subsidiary of Culligan International Company (“Culligan”). Headquartered in Tampa, FL, Paragon develops and produces point- of-use water filtration products for leading international clients including suppliers to big box retailers and branded water dispensers such as Brita. Edgewater acquired Paragon in October 2014, alongside its co-investor JZ Capital Partners, as a separate division within Triwater Holdings, LLC. During Edgewater’s ownership, Paragon constructed a new manufacturing facility in China, tripled its manufacturing capacity, and expanded its customer base across the globe.

Triwater’s remaining two divisions, Water Treatment Solutions and Water Renewal Technologies, continue their growth under the Triwater Holdings leadership team.