Case Studies
Maverick Healthcare Group, Inc.
Company Overview
Maverick Healthcare Group, founded in 1997 and headquartered in Mesa, AZ, was a leading provider of diversified home healthcare products and services in the Southwest. Maverick offered a full range of home health services including home respiratory therapy, home infusion therapy, and customized home medical rehabilitation equipment through a network of 27 branch locations in Arizona, California, Colorado, New Mexico, and Nevada. In addition, the company operated eight sleep diagnostic sites in Arizona and New Mexico.
Opportunities
- Support Maverick’s founders and co-CEOs to execute their strategic growth plan for their leading company competing in a fragmented industry
- Afforded management team an opportunity for partial liquidity, while maintaining their day-to-day operational roles and meaningful ownership in the business
Key ValuFactors Initiatives
- Developed a strategy to amplify growth and address new geographic markets
- Recruited key executive talent to increase the depth and breadth of the management team
- Improved Maverick’s IT systems, budgeting process, and financial reporting
- Expanded operations into two new states via two acquisitions and 10 de novo branch openings
Outcome
During the course of the investment, Halifax and management grew revenue and EBITDA by 53% and 62%, respectively, and achieved numerous operational, sales and marketing, business development, and new personnel milestones.
Halifax successfully exited Maverick through a sale to management and a financial sponsor. The founders achieved their goal of attaining personal liquidity and continued to run the business following the sale.
“Halifax’s investment experience, industry expertise and practical style made for a particularly successful and rewarding relationship. The results were significant growth, market share gains and geographic expansion for our company in the highly competitive home healthcare sector. In the end, we created substantially more value through our collaboration and the subsequent transaction than we could have expected from the first sale.”