Azalea Capital has recapitalized KLMK Group, a Richmond, Va.-based provider of advisory services for healthcare firms. Financial terms were not announced. Azalea,| of Greenville, S.C., is an investment firm that targets middle market firms in the Southeast. Cobblestone | Harris Williams advised KLMK.
Cobblestone | Harris Williams is pleased to announce that KLMK Group, LLC (KLMK) has been recapitalized by Azalea Capital. Cobblestone | Harris Williams acted as exclusive advisor to KLMK, with Harold Williams and Ben Ross from the firm’s Richmond office leading the transaction, which closed on December 10, 2010.
“KLMK enjoys an enviable brand name and reputation in the marketplace, longstanding relationships with a roster of blue-chip clients, and a broad array of superior advisory capabilities, ideally positioning the company to capitalize on the continued growth of the healthcare industry,” noted Harold Williams, managing director of Cobblestone | Harris Williams. “KLMK’s founders, John Kemper and Bill McMahon, are excited about partnering with Azalea Capital to expand the company’s size, service offering, and market reach in the coming years, and we are pleased to have had the opportunity to work with John, Bill, and their team.”
KLMK is a leading provider of innovative facility solutions to visionary healthcare owners. KLMK’s dynamic team of experienced and multidisciplinary professionals provides independent, objective and professional advice to healthcare providers involved in the launch, management, and transition of facilities and capital projects. With offices in Richmond, VA; Atlanta, GA; Birmingham, AL; Houston and Dallas, TX; and Washington, D.C., KLMK’s consulting staff supports a variety of healthcare capital projects in the Northeastern, Mid-Atlantic, Southeastern and Southwestern United States.
Azalea Capital is an investment firm headquartered in Greenville, SC, providing strategic equity capital to privately owned, middle market firms in the Southeast to facilitate management buyouts, business recapitalizations and growth plans. Partnering with management teams in scalable, operating companies with established revenues and cash flows, Azalea provides both financial and human capital to significantly enhance the long-term equity value of the underlying business.
Patriot Capital, a leading source of growth capital for middle market companies seeking to finance business expansion, acquisitions, management buyouts or balance sheet recapitalizations, provided mezzanine financing for the transaction. Patriot Capital typically makes subordinated debt and preferred equity investments in acquisitions, management buyouts and recapitalizations that range between $15 and $100 million in enterprise value.
Cobblestone | Harris Williams (www.cobblestonehw.com), a specialty group of Harris Williams & Co., provides trustworthy advice and superior execution on private company sales, corporate divestitures, acquisitions, recapitalizations, restructurings, and complex valuations for lower-middle market transactions. Cobblestone’s professionals have advised on M&A and financing transactions representing more than $5 billion in value since 1998, making it one of the nation’s most experienced and successful advisors dedicated solely to the lower-middle market.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is the premier middle market advisor with a two decade legacy of sell side excellence serving clients worldwide. The firm is focused exclusively on the middle market providing sell side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, an Appointed Representative of Sturgeon Ventures LLP, which is authorized and regulated by the Financial Services Authority. Cobblestone | Harris Williams and Harris Williams & Co. are trade names under which Harris Williams LLC conduct business in the U.S.