The Halifax Group Announces the Sale of Maverick Healthcare To Beecken Petty O’Keefe & Company
WASHINGTON, DC – November 1, 2007 – The Halifax Group (“Halifax”) today announced that it has sold its majority interest in Maverick Healthcare, Inc. (“Maverick”) to Beecken Petty O’Keefe & Company (“BPOC”), a Chicago-based private equity firm focused on healthcare. Sale terms were not disclosed.
Maverick Healthcare, headquartered in Mesa, Arizona , is a leading provider of comprehensive home healthcare products and services in the Southwest, offering a full range of home health services in 27 branch locations. In addition, the company operates eight independent sleep diagnostic testing facilities.
“Our partnership with Maverick’s exceptional management team was extremely successful,” said Kenneth M. Doyle, Managing Director, Halifax. “Working together as partners with management, who invested alongside us in March 2005, we have nearly doubled Maverick’s profitability, opened ten new locations, completed two acquisitions, and increased the depth and breadth of the management team. These operational achievements, together with a dividend recapitalization in 2006, have generated an attractive return for Halifax and Maverick’s founders and management.”
“The investment experience, healthcare expertise and financial discipline of the Halifax team have been a tremendous asset to Maverick. Our collaboration with Halifax has resulted in substantial growth and market share gains for our company in the highly competitive home healthcare sector,” said Thomas Martin, co-CEO of Maverick.
“The support and contributions of Halifax have positioned Maverick to continue its growth path well into the future,” continued David Scheven, co-CEO, Maverick. “Building on our current strong position, we are confident that Maverick is well positioned for future success.”
Macquarie Securities (USA) Inc. acted as exclusive advisor to Halifax .
About the Halifax Group
The Halifax Group is a private equity firm specializing in partnering with managers and entrepreneurs to recapitalize and grow lower middle-market companies across a variety of industries, including businesses in the healthcare services, wellness, infrastructure services and business services sectors The firm maintains offices in Washington, D.C., Dallas, Texas and Raleigh, North Carolina. For more information, visit www.thehalifaxgroup.com.
About Maverick Healthcare, Inc.
Maverick Healthcare, headquartered in Mesa, Arizona , is a leading provider of comprehensive home healthcare products and services in the Southwest. Maverick offers a full range of home healthcare products and services including home respiratory therapy, home infusion therapy, and home medical/custom rehabilitation equipment through a network of 27 branch locations in Arizona, California, Colorado, New Mexico, and Nevada. In addition, the company operates eight independent sleep diagnostic testing facilities in Arizona and New Mexico.
Owen Blicksilver Public Relations