A leading lower middle-market private equity firm had identified a compelling eye care practice in the Southeast but the business was too small to serve as a platform on its own.
The success of the opportunity centered around the company’s ability to successfully acquire and integrate other eye care practices with a complete spectrum of services.
Kingfish relationships catalyzed the formation of the opportunity:
Aligning a Backable Executive
Kingfish aligned the former President and CEO of a leading provider of eyecare and dental services to serve as an operating advisor.
Developing Actionability
The operating advisor leveraged his relationships with complementary local practices to develop a robust acquisition pipeline, providing the sponsor with conviction around the actionability of the M&A opportunity.
In addition, the operating advisor’s ability to serve as interim CEO provided the sponsor with the comfort to confidently pursue an investment with complex integration requirements.
Transaction Diligence
During diligence, Kingfish executive relationships from larger regional players helped identify the keys to scaling and the opportunities / risks with payors in the platform company’s regional market.
Post-Close Strategic Priorities
After the transaction’s closing, the Kingfish team was able to identify 160+ additional potential acquisition targets in the platform company’s geographic market through its network and analysis.