Clearview Capital has recapitalized Phoenix-based MBI, a provider of occupational injury care services. No financial terms were disclosed.
Stamford, CT, January 12, 2021 — Clearview Capital Fund IV, L.P. and its affiliates (“Fund IV”) announced today the recapitalization, in partnership with management, of MBI Industrial Medicine, Inc. and its affiliates (collectively, “MBI” or the “Company”). The transaction closed on December 18, 2020.
Headquartered in Phoenix, AZ, MBI is a leading provider of occupational injury care services in Arizona. Through its nine freestanding clinics, the Company offers employers an integrated care model which includes work related injury care and physical therapy rehabilitation, in addition to employment physical exams, testing and screening. The Company’s highly skilled staff of medical providers and physical therapists, investments in technology, and dedicated focus on occupational healthcare have driven very strong employer and patient satisfaction, creating opportunities for rapid growth and expansion.
The Company is led by Brian O’Hayre, its Chief Executive Officer, and was founded in 1982 by Brian’s father, Dr. Walter O’Hayre. Over the past 10 years, Brian and his partner Dr. Bernardo Fabrega, the Company’s Chief Operating Officer, have refined MBI’s business model to deliver industry-leading injury care while expanding the business organically throughout the Phoenix and Tucson markets.
Fund IV partnered with Mr. O’Hayre and management to recapitalize the business and provide additional capital to support the Company’s organic and acquisition growth initiatives.
“We are thrilled to be partnering with Brian, Benny and the entire MBI team,” said Matt Rumilly, Partner of Clearview Capital. “We believe the Company has significant growth potential within Arizona and that its success can be replicated in many other markets throughout the Southwestern U.S. and beyond.”
“Our team is very excited to partner with Clearview Capital,” said Mr. O’Hayre. “We were looking for a partner who could help us to accelerate our expansion in both existing and new geographies, and Clearview’s demonstrated track record of growing multi-site businesses both organically and through acquisition really appealed to us. We were also drawn to their investment style and approach to partnership.”
“The MBI team has built a differentiated business model that delivers exceptional results for its employer customers, getting their employees back to work with a focus on comprehensive and cost-effective care, as well as industry leading service,” added Bill Case, Partner of Clearview Capital. “We very much look forward to helping them capitalize on their strengths and accelerating their stellar track record of growth.”
MBI is the fifth platform investment in Fund IV, a $550 million committed fund raised in 2018.
Holdings in funds managed by Clearview Capital include Revo Brand Group, LLC d.b.a. Real Avid, a designer and supplier of premium-branded, DIY shooting accessories for outdoor enthusiasts; Capitol Imaging Services, LLC, a provider of outpatient diagnostic imaging services; Higdon Outdoors, LLC, a designer and supplier of premium-branded hunting and pet accessories; Workforce Solutions, a provider of management consulting services focused on organizational improvement, leadership development, communications and advocacy for a broad array of clients; Apothecare Pharmacy, LLC, an institutional pharmacy targeting the behavioral health sector; Community Medical Services Holdings, LLC, a provider of medication-assisted treatment programs for patients suffering from substance use disorders; UpSwell, LLC f.k.a Mudlick Mail, LLC, a data-driven direct mail and related marketing solutions provider; Nielsen-Kellerman Co., a designer and manufacturer of premium environmental and athletic performance measurement instruments; Orchard & Vineyard Supply f.k.a. Wilson Orchard & Vineyard Supply, a provider of orchard and vineyard supplies and solutions, and outsourced vineyard management services; Controlled Products, LLC, a manufacturer and distributor of premium quality synthetic turf; Elevation Labs f.k.a. Northwest Cosmetic Labs, a formulator and manufacturer of cosmetic and skin care products for prestige brands; Derby Building Products, Inc. f.k.a. Novik, Inc., an innovator, manufacturer and distributor of polymer building products; Child Health Holdings, Inc. d.b.a. Pediatric Health Choice, the country’s largest operator of prescribed pediatric extended care (“PPEC”) centers for medically complex children; and Pyramid Healthcare, Inc., a provider of substance use disorder and mental health treatment programs for adults and adolescents.