Harkness Capital invests in Homestyle Direct

Harkness Capital has invested in Homestyle Direct, a provider of home-delivered meals to Medicaid recipients.

Harkness Capital has invested in Twin Falls, Idaho-based Homestyle Direct, a provider of home-delivered meals to Medicaid recipients. No financial terms were disclosed.

PRESS RELEASE

Twin Falls, ID – Homestyle Direct (“HSD” or the “Company”), a leading provider of home-delivered meals to Medicaid recipients, announced that it has received a growth investment by Harkness Capital Partners I (“HCP”), a private equity firm focused on investments in leading service-oriented companies. The HCP investment will support HSD’s key growth initiatives, including expansion of the existing production and manufacturing capabilities.

HSD was founded in 1997 by Mariann and Robert Griffith. The Company prepares and delivers meals directly to the home for over 10,000 members in over 24 states. HSD focuses on delivering high quality food, and exceptional customer service. It serves primarily Medicaid participants and all meals are tailored to meet the specific medical and nutritional needs and conditions of each individual. HSD has a wide variety of menu choices to meet specific medical needs, all valued cost-effectively to its members and healthcare partners.

“Our Company’s mission is to positively impact the lives of our members by providing highly nutritional meals with exceptional service and diverse menu choices. The addition of Harkness Capital as a partner to provide capital and strategic operational resources comes at an ideal time to support our rapid growth,” said Mariann Griffith, Co-Founder and CEO of HSD. The Harkness team has a strong background in food and healthcare services and will be a value-added partner as we continue to grow.”

The Harkness investment was led by Ian Handsman and included Harkness Operating Investors Brian Poplin, Mark Pacala and Mark Krivoruchka. The operating team will be a resource to HSD senior management in support of business building and growth initiatives. The investment in HSD represents the second platform investment of Harkness Capital Partners I.

Robert W. Baird & Co. acted as financial advisor and Hawley Troxell served as legal advisor for Homestyle Direct. McGuire Woods LLP served as legal advisor for Harkness Capital.

About Homestyle Direct Homestyle Direct is a leading provider of in-home meal delivery to individuals primarily participating in Medicaid and expanding to other adjacent markets. Founded in 1997 by Mariann and Robert Griffith and based in Twin Falls, ID, the Company is focused on impacting customer lives by providing nutritious meals with high quality customer service. HSD currently serves over 10,000 members across 24 states, primarily Medicaid recipients. Future services will include serving the Medicare Advantage market. For more information, please https://www.homestyledirect.com.

About Harkness Capital Harkness Capital is a New York-based private equity investment firm focused on investments in service-oriented companies. Harkness Capital I invests capital and resources to support rapidly growing companies across a variety of segments within outsourced services, including logistics, environment/health/safety (EH&S), specialty rental /infra-structure, food and facilities services, and test/inspection/ certification/compliance (TICC). Harkness Capital is dedicated to ‘transformational’ investing and building long-term value in its portfolio companies. Harkness works in partnership with talented business owners and managers seeking to grow their companies. The Harkness Capital team of investment professionals and operating executives have diverse backgrounds as business founders, builders and leaders in services businesses. Harkness seeks to utilize its experience, resources, and capital to help managers build high-performing companies and to create and maximize long-term equity value. For more information, please visit http://www.harknesscapital.com.