Cleveland-based financial advisory firm Signet Capital Advisors served as sell-side advisor to MediQuant on the award-winning transaction.
MediQuant, Inc. was recently named recipient of the prestigious 2019 Deal Maker Award in the Association for Corporate Growth (“ACG”) Cleveland’s Corporate Small Private Category. Cleveland-based financial advisory firm Signet Capital Advisors served as sell-side advisor to MediQuant on the transaction.
ACG is an international association of dealmakers, including private equity, investment banking, legal and other professionals who engage in middle-market mergers and acquisitions (M&A). The Cleveland chapter’s 23rd annual Deal Maker Awards are a tribute to Northeast Ohio’s preeminent corporate deal makers for their accomplishments in using acquisitions, divestitures, financings and other transactions to fuel sustainable growth.
MediQuant is recognized as a leader in data archiving for the healthcare industry. The company was founded in 2004 and has grown rapidly since then in both sales and employees, making the Weatherhead 100 list eight straight years. In 2018 MediQuant’s shareholders decided to seek a capital partner that would help continue the company’s stellar growth, and enlisted Mike Paparella and the Signet team to explore liquidity options.
Throughout the sell-side advisement process, Paparella and his team worked to position the business to appeal to a national audience, screen each potential partner for cultural fit as well as financial value, and assist the shareholders in choosing the partner that provided the best opportunity to perpetuate the company’s continued growth and build it into a regional and industry powerhouse. They identified that buyer as Boston-based growth equity firm, Silversmith Capital Partners.
Silversmith retained a strong position throughout the auction process that included firms from coast-to-coast, and ultimately took a majority share in the business, injected capital to support MediQuant’s transformation growth strategy, and has made a strong commitment to keep and grow the business in Northeast Ohio.
“Signet Capital Advisors would like to congratulate MediQuant and Silversmith Capital Partners on their transaction,” said Mike Paparella, Managing Director of Signet Capital Advisors. “We are thrilled that MediQuant received the ACG Cleveland Deal Maker Award and are honored to have been their strategic advisor throughout the entire process and facilitate a positive outcome for both sides.”
“The transaction and subsequent award for MediQuant are a testament to Mike and his team’s diligence and hard work throughout that entire process,” said Kenneth Krismanth, CEO of Signet Capital Advisors’ parent company, Signet LLC. “Mike was able to secure an outstanding financial commitment from the buyer, which provided a situation for growth opportunities for MediQuant’s staff and closed the transaction in less than 40 days as agreed upon.”
About Signet Capital Advisors
Signet Capital Advisors (“SCA”) provides financial advisory services such as sell-side, buy-side, capital raising, and debt placement to middle market clients. SCA also provides strategy creation, outsourced corporate development, and benchmarking services (through the Corporate M.P.G.™ analysis) to company owners and management teams. Learn more at signetcapadvisors.com
MediQuant provides comprehensive data life cycle management technology, working in close partnership with healthcare providers and other vendors to optimize data management, including revenue cycles. Visit http://www.mediquant.com
About ACG Cleveland
Founded in 1954, the Association for Corporate Growth has chapters worldwide representing 14,500 members. ACG serves 90,000 investors, owners, executives, lenders and advisers to growing middle-market companies. ACG’s mission is to drive middle-market growth. Visit http://www.acg.org/cleveland
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