COSTA MESA, Calif., Dec. 3, 2007 (PRIME NEWSWIRE) -- maxIT Healthcare, LLC has been recapitalized by Riordan, Lewis & Haden. Transaction terms were not disclosed.
RSM EquiCo Capital Markets -- which originally won maxIT's business via a competitive credentials competition -- initiated the transaction, sourced the buyer, led the negotiations and acted as exclusive financial advisor to maxIT and its shareholders.
"maxIT's growth, differentiated business model and aggressive management team, coupled with Riordan, Lewis & Haden's extensive experience in healthcare and established track record of successfully growing IT consulting companies, created a compelling investment opportunity and made an ideal partnership," said Paul Weisbrich, senior managing director, RSM EquiCo Capital Markets. "The recapitalization will allow maxIT's shareholders to monetize a substantial portion of their equity, while still giving them the opportunity to participate in the company's rapid projected revenue growth."
A team of RSM EquiCo Capital Markets professionals contributed to the successful close of this transaction. Weisbrich and Sean Walker, senior vice president, led the deal team.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of the FINRA and SIPC. The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
About maxIT Healthcare, LLC
In six years, maxIT has grown to become one of the largest, privately held, healthcare IT consulting firms operating in the United States, with more than 210 highly qualified consultants on staff. The company provides project consulting, staff augmentation and other strategic advisory services to the healthcare industry allowing hospitals to improve efficiency and maximize productivity. maxIT possesses extensive experience implementing the software packages of virtually every major vendor, including Cerner, Epic, Eclipsys, and McKesson.
About Riordan, Lewis & Haden
Riordan, Lewis & Haden is a leading Southern California-based private equity firm with a 25-year history of investing in high quality middle-market businesses. Riordan, Lewis & Haden invests in companies with significant growth potential in revenue and earnings, while backing first-class management teams in a variety of industries, including business services, healthcare, value-added manufacturing and specialty distribution. The firm recently raised a fund with approximately $400 million in committed capital.