Vicente Capital Increases Fund, Makes First Deal

Vicente Capital Partners has raised $15 million in additional commitments for its debut growth equity fund, bringing the total to $165 million. New LPs include Credit Suisse and the State of Connecticut. Los Angeles-based Vicente will invest between $5 million and $15 million in companies that have between $2 million and $25 million in revenue and up to $5 million of EBITDA. Vicente was previously known as Kline Hawkes & Co., although Frank Kline is not part of the new effort.

In related news, Vicente announced its first portfolio company: MedBridge Healthcare, a Greenville, S.C.-based provider of sleep diagnostic and respiratory therapy services.

PRESS RELEASE

Vicente Capital Partners, a Los Angeles-based private equity firm, today announced the final closing of its Growth Equity Fund.  The fund exceeded its targeted raise of $150 million with Credit Suisse and the State of Connecticut joining the fund’s list of premier institutional investors.

Vicente Capital Partners, which specializes in both non-control and control investments, also announced its investment in MedBridge Healthcare.  MedBridge is a provider of sleep diagnostic and respiratory therapy services that serves the growing market for sleep apnea diagnosis and treatment.  Headquartered in Greenville, SC, the company operates over 40 locations throughout the United States.  Roy Myers, founder of American Sleep Diagnostics, has joined the company as CEO alongside Matt Mellott, who will continue to serve as President and COO. 

Klaus Koch and Nicholas Memmo, Managing Partners at Vicente Capital Partners, will join MedBridge’s board of directors.

“We were fortunate to identify a growing business with strong existing management,” stated Klaus Koch. “By adding Roy Myers to the team, we have a great platform for future expansion.”

About Vicente Capital Partners

Vicente Capital Partners makes non-control and control equity investments of $5 million to $15 million in growth businesses with revenue of $5 million to $25 million.  Sample industry sectors include: Business Services (outsourced services, Internet services, telecom services); Consumer Services (healthcare services, residential delivery, education); and Specialty Manufacturing (aerospace & defense, environmental products, networking/telecom equipment).

Investors in Vicente Capital Partners’ private equity fund include some of the nation’s premier institutional investors, including CalPERS, Credit Suisse, Fairview Capital, JP Morgan Asset Mgmt. & Affiliates, LACERS, LA Fire and Police Pensions, New Mexico ERB, New Mexico State Investment Council, New York Common, State of Connecticut and Teachers’ Retirement System (IL).  For more information about Vicente Capital Partners, please visit www.vicentecapital.com or call (310) 826-2255.