Post Capital has sold Invo HealthCare Associates to the Wicks Group of Companies. Post Capital acquired Invo HealthCare in December 2012 and will remain a minority investor in the company.
Invo HealthCare is a provider of outsourced clinical services for special needs children in 28 states and serves more than 60,000 individuals annually. The company operates through two divisions that serve the needs of preschool children (3-5) and school age children (K-12). In addition, Invo’s early intervention division provides services to children from birth to 3 years. Invo is based in Jamison, PA (www.invohealthcare.com).
“We are thrilled with this highly successful sale and equally excited to work with our new partners at Wicks to continue Invo’s exceptional growth in providing parents and children access to the highest quality autism and special education services,” said Mitch Davidson, Co-founder and Managing Director of Post Capital.
During its ownership term, Post Capital grew the company both organically and through add-on acquisitions. “The Post Capital team has been instrumental to Invo’s success, providing both the capital and strategic insight to help drive our growth,” said Anthony Manley, CEO of Invo. “They were indispensable partners in formulating our vison and strategy and provided us with both the strategic counsel and operational freedom to achieve our goals.”
Post Capital invests from $5 million to $15 million of equity in companies with $10 million to $150 million of revenue and a minimum EBITDA of $2 million. Industries of interest include services, manufacturing and distribution businesses. The firm was founded by Mitch Davidson and Michael Pfeffer and is based in New York (www.postcp.com).
The Wicks Group of Companies invests in lower-middle-market companies operating in the information, education and media industries principally in the United States and Canada. The firm was founded in 1989 and is headquartered in New York (www.wicksgroup.com).
Cain Brothers & Company (www.cainbrothers.com) was the financial advisor to Invo on this transaction.
© 2017 Private Equity Professional | January 20, 2017
