Waud Capital has appointed Dave Prendergast as vice president of business development. Previously, Prendergast worked at Great Point Partners where he served as vice president.
Chicago, IL, February 15, 2016 –– Waud Capital Partners, a leading growth-oriented middle-market private equity firm with $2.1 billion under management, announces the appointment of Dave Prendergast as Vice President – Business Development, effective immediately. Mr. Prendergast joins the firm’s Business Development group, and he will focus on identifying investment opportunities within the firm’s healthcare services vertical.
Mr. Prendergast brings more than five years of private equity experience in healthcare services, healthcare information technology (HCIT) and technology-enabled business services. Previously, he served as a Vice President at Great Point Partners, where he focused on healthcare, and more specifically, outsourced provider services, payor services, dental, HCIT and distribution businesses. Mr. Prendergast began his career as an associate at Summit Partners, where he focused primarily on the technology sector, with an emphasis on software, internet, and communications technology companies.
Reeve Waud, Managing Partner of Waud Capital, commented, “We are excited that Dave has joined Waud Capital. The Business Development group is critical to our disciplined and process-driven investment approach. The group works with our investment teams to develop a systematic process to finding attractive lower middle-market opportunities within healthcare services and business and technology services.”
David Neighbours, Partner at Waud Capital, added, “Dave’s industry insights and network are very relevant to our target niches in healthcare. We look forward to his contributions as we seek to make new platform investments and accretive follow-on acquisitions.”
“This is a great personal opportunity because Waud Capital has such a unique and powerful value proposition,” said Mr. Prendergast. “The firm’s approach to partnering with exceptional CEOs in its target industry niches and working with them to proactively identify and build high-growth platform companies has made Waud Capital very successful. I am excited to help build upon the firm’s success and originate and drive new investment activity.”
Mr. Prendergast graduated magna cum laude from Cornell University with a B.S. in Applied Economics and Management and holds an M.B.A. from Harvard Business School.
About Waud Capital Partners
Based in Chicago, Waud Capital Partners is a leading private equity firm founded in 1993 that partners with exceptional management teams to acquire or create platforms in the U.S. lower middle market through control-oriented growth equity investments, industry consolidation, buyouts or recapitalizations. The firm seeks to invest $50 million to $150 million (including follow-on investments) of total equity in each platform company and employs a disciplined three-phase investment strategy with staged investments designed to generate superior risk-adjusted returns. Waud Capital targets services businesses in large, growing, fragmented markets within two industries: healthcare services and business and technology services.
Typically, the initial platform companies in which Waud Capital invests have enterprise values between $50 million and $250 million. The firm has approximately $2.1 billion in assets under management. Since its founding, Waud Capital has successfully completed more than 200 investments, including platform companies and follow-on opportunities.
For additional information on Waud Capital, visit www.waudcapital.com.