News, Recent Transactions, and Investment Announcements

As we cross the finish line of 2020 and look forward with optimism to 2021, we are humbled by the perseverance and accomplishments of so many friends, families, operating partners, and the roughly 15,000 team members of Shore portfolio companies.

A few highlights from 2020 that we'd like to share:

1) Portfolio growth from 20 to 26 companies, as we welcomed the teams from Women's Health Group, Old World Spices and Seasonings, Northeast Health Services, Jaffe Sports Medicine, Tandem Family of Companies, Column Health, Together Women’s Health, and announced the sale of Florida Autism Center to BlueSprig Pediatrics.

2) Recognition from the investment community as a Top Founder-Friendly Firm and Most Active PE Firm in the world during the third quarter.

3) Formation of The Shore Capital Charitable Foundation to initially provide tax free financial assistance to individuals and families impacted by the COVID-19 crisis. Long term, the Foundation will help Shore portfolio company team members and families in a variety of ways.

For more information about what's happening at Shore Capital Partners, visit the News section of our website or follow Shore on LinkedIn and Twitter.

CHICAGO & VANCOUVER, Wash.--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”) is pleased to announce it has completed a partnership with Innovative Packaging Company (the “Company” or “IPC”), a custom packaging solutions provider based in Vancouver, Washington.

Innovative Packaging Company was founded in 2012 by co-founders Jeremy and Matt Concannon as a full-service, value-add custom packaging distribution business. IPC’s core service offerings include packaging procurement, supply chain management, warehousing, and custom design services. The Company sells a diverse product mix including flexible packaging, fiber-based packaging, hardware, and labels into strong food and beverage end-markets.

Jeremy Concannon, President of IPC, noted, “We are excited about the partnership with Shore Capital given their playbook for explosive growth and track record of performance. IPC has developed a ‘go-to-market’ strategy for our customers that is un-matched, and we look forward to working with Shore to deliver our custom packaging supply chain and service programs to even more customers across the country.”

“We grew up in the packaging business and have lived and breathed it since we were teenagers. We are extremely proud of what our team has built and look forward to the next chapter as we continue to scale IPC into a premier packaging firm with a relentless focus on the customer,” said Matt Concannon, Vice President of IPC.

Shore plans to invest in the business development, sales and marketing, and operational infrastructure of the Company to help drive transformational growth. Together, IPC and Shore will explore opportunities for inorganic growth through acquisitions, and organic growth through continued best-in-class customer service and the acquisition of new attractive customers.

“We could not be more excited to partner with the entire IPC team and look forward to creating a leading US packaging solutions platform for small and medium customers with medium to high complexity packaging needs,” said Richard Boos, Partner at Shore Capital and Chairman of IPC. “Jeremy and Matt have built an excellent business focused on serving their customer’s unique packaging and distribution needs and we will work tirelessly with them to build on their success.”

Strategic Partnership with Eastside Gynecology Obstetrics and Comprehensive Woman’s Care Includes Seven Locations in Southeast Michigan

February 11, 2021--CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore”), a private equity firm, is pleased to announce it has founded Together Women’s Health (“TWH”), through the completion of a strategic partnership with Eastside Gynecology Obstetrics (“Eastside”) and Comprehensive Woman’s Care (“Comprehensive”). TWH provides women’s health practices with administrative support, allowing physicians to focus on delivering the highest quality of patient care.

Eastside and Comprehensive are leading obstetrics and gynecology (“OB/GYN”) practices in the Detroit area, offering a full suite of services including mammography, lab, ultrasound imaging, skincare, and rejuvenation services. Eastside, led by Dr. Paul Nehra, son of the practice’s founder, has four locations: Macomb, Rochester, Grosse Pointe, and Roseville. Comprehensive, led by President Dr. Chad White, has three locations: Clinton Township, Chesterfield Township, and Detroit.

In the TWH partnership, each of Eastside’s and Comprehensive’s existing partner physicians will continue serving the community with leading clinical care. From Eastside: Dr. Nehra, Dr. John Knapp, Dr. Ben Chen, Dr. Deborah Hamby, Dr. Suzanne Hall, and Dr. Margot Abundis. From Comprehensive: Dr. Chad White, Dr. Raymond Quasarano, Dr. Angela Messina, and Dr. Lauren Mellor. Dr. Nehra will assume the role of Chief Medical Officer for TWH.

“We look forward to building a leading Midwest provider of women’s health services and becoming the partner of choice for independent physicians, which begins with Dr. Nehra, Dr. White and their teams,” said Mike Cooper, Founding Partner of Shore and TWH Chairman. “Eastside and Comprehensive have an outstanding reputation and vision for clinical excellence, which is a tremendous foundation to scale and build on their success.”

Dr. Paul Nehra said, “With healthcare ever-evolving and the inherent challenges of private practice, we felt it was time to collaborate with a strong business partner. Shore uniquely filled that role to shepherd us as the platform partner in Together Women’s Health. They have a fantastic record of enabling transformational growth, and our practice felt that this relationship would position us to be a future leader in women’s health.”

Anthony Ahee co-founded and will serve as CEO of TWH. Prior to TWH, Anthony founded Honor Equity, an entrepreneur-owned holding company formed to acquire and grow a limited number of healthcare businesses with significant growth potential. During this period he developed a thesis in women’s health and led the creation of Together Women’s Health. Mr. Ahee commented, “We created TWH to be a leading network of integrated women’s healthcare providers. By building on a foundation of clinical excellence, our best-in-class support services enhance care today and drive growth for the future. Together we are paving the way for a better women’s health community.”

TWH plans to grow its platform across the Midwest by supporting practices with operations, finance, accounting, marketing, human resources, and IT, thereby allowing physicians to focus on clinical excellence and serving their communities. TWH plans to pursue affiliations with independent women’s health practices and build a network of top clinicians in a physician-led culture. For more information on TWH, please visit togetherwomenshealth.com.

TWH represents the seventh platform investment out of Shore Capital Partners Fund III, L.P., a $293 million investment vehicle raised in April 2019.

Strategic Partnership with HR Technology and Solutions Leader Poised for Transformational Growth

January 27, 2021 --CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore”), a private equity firm focused on investments within the Healthcare and Food and Beverage industries, is pleased to announce an investment in the Tandem Family of Companies (“Tandem”).Tandem is a nationwide, full-service HR technology and solutions leader servicing small, mid-size, and enterprise companies. Tandem is currently comprised of four brands: Tandem HR, a professional employer organization (PEO) offering HR outsourcing solutions, two leaders in highly customized brokered benefits for groups and individuals, Benefit Solutions Group and Alliance Workplace Solutions, and Workplace Solutions, a provider of comprehensive employee assistance programs (EAP).

Powered by experienced professionals, Tandem HR has been the recipient of several awards in its 20-year history, including Best HR Companies, Top Workers’ Compensation & Disability Company, Crain’s Chicago’s Best Places to Work, Fastest 50 Growing Companies in Chicago, and numerous inclusions on the Inc. 5000 list.

Bruce Leon, Founder of Tandem, noted “We are thrilled about this partnership and how it will accelerate our growth by delivering additional value to current and new clients through investment in technology, pricing power, and expansion of products and services in the HR solutions, health and workers compensation insurance markets.”

“Tandem has a tremendous track record providing high-value, high-touch client service while expanding its geographic capabilities and customer solutions,” said Ryan Kelley, a founding Partner of Shore. “We are well-positioned to continue this path to success by investing in the transformational growth of Tandem’s products, services, and geographic reach.”

“The partnership with Shore starts the next chapter of the growth of our organization and our business and I couldn’t be any more pleased about the opportunities that lie ahead for our colleagues, clients and partners alike,” says Salo Doko, President & COO. “Through a careful process, we found in Shore the right partner to make our shared strategy of geographical expansion and profitable growth come to life”.

To support Tandem’s strategic growth plan, Shore assembled an industry-leading Board of Directors. Notably, Greg Slamowitz, the former Co-CEO and Co-Founder of Ambrose Employer Group, from 1997 through a successful sale to TriNet in 2013, has joined the board and contributed a material equity co-investment. “Shore and Tandem are excited to have Greg join the Board to help lead Tandem through a period of rapid growth and expansion,” said Mr. Kelley.

About Tandem HR

Tandem HR provides custom, high-touch Fortune 500 caliber human resources to small, mid-sized and enterprise businesses throughout the United States. By managing the administrative aspects of human resources such as payroll processing, benefits administration, compliance, risk management, employee relations etc., Tandem’s HR experts allow client executives to focus on growing their businesses. Learn more about how Tandem HR can help your business at www.tandemhr.com or call 630-928-0510 today.

About Shore Capital

Shore Capital Partners is a Chicago-based private equity firm focused on microcap Healthcare and Food and Beverage investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has $1.1 billion of equity capital under management through various investment vehicles. For more information on Shore, please visit www.shorecp.com.

Private Equity Firm Makes Strategic Hire to Support Growth

December 18, 2020 --CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore”), a private equity firm focused on microcap investments within the Healthcare and Food and Beverage industries, is pleased to announce Justin Bentley has joined the firm as Head of Capital Markets.

Justin is responsible for leading the firm’s capital markets efforts, including the financing activities of all new investments and portfolio companies, as well as developing and managing banking and intermediary relationships.

"It is my pleasure to welcome Justin to Shore," said Justin Ishbia, Managing Partner. "His impressive track-record and deep understanding of capital markets will be a key enabler of our growth at Shore and portfolio companies. We look forward to Justin’s continued success and leadership.”

“Shore has developed a unique and highly effective approach that has produced tremendous results,” said Mr. Bentley. “We are extraordinarily well-positioned for sustained success, and I am thrilled to join the team to lead our capital markets efforts and contribute to our growth.”

Mr. Bentley joins Shore with 16 years of leveraged finance experience. He most recently served as a Director at Vista Credit Partners, where his responsibilities included capital raising and the sourcing, evaluation, and execution of credit investments in software and technology companies. Prior to Vista, Justin was a Director at Madison Capital Funding and was responsible for all aspects of direct lending investments as well as building the firm’s asset management and CLO platforms. After earning his B.S. in Finance from the University of Illinois, Justin started his career as a Derivatives Analyst on the Chicago Board of Trade floor.

About Shore Capital Partners

Shore Capital Partners is a Chicago-based private equity firm focused on microcap Healthcare and Food and Beverage investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has $1.1 billion of equity capital under management through various investment vehicles. For more information on Shore, please visit www.shorecp.com.

November 19, 2020 06:30 AM Eastern Standard Time

CHICAGO & OVERLAND PARK, Kan.--(BUSINESS WIRE)--Shore Capital Partners (“Shore” or “Shore Capital”) is pleased to announce it has completed a recapitalization of Old World Spices and Seasonings (the “Company” or “Old World”), a manufacturer of custom ingredient solutions based in Overland Park, Kansas.

Founded in 1988 as Industrial Ingredient Sales, Inc. by John Jungk, Old World is a manufacturer of custom blended spices, seasonings, ingredients, dry food products, and sauces for the retail, foodservice, and industrial channels. Old World operates out of an SQF certified 78,000 sq. foot manufacturing facility in Concordia, Missouri. The Company also maintains a corporate office and R&D center in Overland Park, Kansas. The Company offers R&D and co-development support, flexible and nimble manufacturing services, and diverse packaging options to its valued customers.

Shore Capital is partnering with the Company’s management team, which has helped guide Old World through a period of tremendous expansion since setting out on a new growth strategy in 2013.

“We are thrilled to announce our partnership with Shore Capital, and we are confident our combined teams, networks, and resources will further enhance our ability to provide best-in-class service, innovative solutions, and quality products to our customer partners,” said Russ Meinhardt, CEO of Old World. “Our team is eager to capitalize on the significant opportunity for growth and consolidation in the spices, seasonings, and specialty ingredients space, and we look forward to working with the Shore team to maximize our potential.”

Shore plans to invest in the business development, research and development, sales and marketing, and production infrastructure of the Company to further refine operations. Together, Old World and Shore will explore opportunities for inorganic growth through acquisitions, and organic growth through adjacent product lines, manufacturing capabilities, and distribution channels.

“John, Walt, Russ, Amy, Beth and the rest of the Old World team have built an amazing business and we are truly honored to partner with them in the next exciting chapter of growth,” said Richard Boos, Partner at Shore Capital and Chairman of Old World. “We look forward to building the business with a keen focus on existing customer partnerships and expansion into new relationships.”

CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore”), a Chicago-based private equity firm, is pleased to announce it has entered into a strategic partnership with the Women’s Health Group (“WHG”). WHG, led by founder Dr. Stephen Volin, is a leading obstetrics and gynecology (“OB/GYN”) services provider with nine locations, including a midwifery practice, birthing center, surgery center and six clinical locations in Greater Denver. WHG is a leading practice in the Denver market, offering comprehensive medical and surgical OB/GYN services including in-office procedures, pelvic support treatment, and minimally invasive surgical techniques.

Shore Capital is partnering with WHG’s six existing partner physicians, Dr. Stephen Volin, Dr. Cindy Long, Dr. Kristin Head, Dr. Andrea Burgess, Dr. Colleen Begley, and Dr. Kristen Garcia, all of who have established a reputation for high quality medical and surgical obstetrics and gynecological care. Since its founding in 1994, the physicians and the team at WHG have demonstrated impressive growth through the opening of new clinical locations, adding new service lines and capabilities, and recruiting talented, high-quality physicians to the practice.

“We are proud of what we have built as a team and are excited to continue expanding and developing our patient offerings in a new phase of transformational growth. The partnership with Shore Capital will help us to further our medical mission across a broader geographic footprint in the Mountain West. We are delighted to partner with Shore as they share our vision to deliver clinical excellence alongside a comprehensive patient experience,” said Dr. Stephen Volin, Chief Medical Officer of Women’s Health Group.

Shore and WHG plan to invest in people, processes, and infrastructure to support the operations, finance, accounting, compliance, marketing, human resources, IT and other support services, allowing clinicians to focus on providing the highest quality of care for women.

“We are thrilled to partner with the entire WHG team. Having established a world-class practice, WHG is experiencing significant growth and understands the value of a strategic partnership as they continue to augment and build on their success,” commented Mike Cooper, a founding partner of Shore Capital and Chairman of WHG.

WHG will pursue affiliations with strong independent obstetrics and gynecological practices across the region in order to build a leading network of doctors that maintains a patient-first culture with a clear focus on high-quality clinical care.

“We have high aspirations about the partnership with Shore and are excited about what we can collectively accomplish and offer to our patients,” added Dr. Volin. Dr. Cindy Long, Partner and Board Member, noted, “This partnership provides us with access to strategic capital, administrative support resources, operating expertise and strategic guidance while remaining committed to clinical quality.”

“We look forward to creating a leading provider of OB/GYN services in the region, while offering the highest level of support to our practices and clinicians,” said Cooper. “WHG provides an exceptional foundation to build a best-in-class organization that seeks to be the partner of choice for practices who provide high quality patient care and desire a strategic partner to support their business operations and accelerate growth.”

WHG represents the fourth platform investment out of Shore Capital Partners Fund III, L.P., a $293 million investment vehicle raised in April 2019.

To learn more about Women’s Health Group, please visit www.whg-pc.com.

PitchBook -- November 13, 2020 -- Ranking the busiest PE firms, VC firms and more of Q3 -- Shore Capital Partners lacks the financial firepower of private equity giants like KKR and The Carlyle Group. But during Q3, the Chicago-based investor was the busiest private equity firm in the world. It closed 48 deals between the start of July and the end of September, outpacing the second most active firm, KKR, by 45%. Full story here.

PitchBook -- November 12, 2020 -- Q3 2020 Interactive Global League Tables -- PitchBook's Q3 2020 Global League Tables in full are below, presented in an interactive format. At PitchBook, we always strive to find new and hopefully better ways to present useful data, so starting in 2020 we have created an interactive set of tables so you can more easily navigate the full rankings or find the specific table you want more swiftly. Full story here.

Strategic Partnership with Southern Sports Medicine Partners Includes Four Locations in West Florida

CHICAGO, IL, November 2, 2020 – Business Wire - Shore Capital Partners (“Shore”), a private equity firm, is pleased to announce it has founded Southern Sports Medicine Partners (“SSMP”), through the completion of a strategic partnership with Southern Sports Medicine Partners (“SSMP”). SSMP provides interventional pain management practices with administrative support, so physicians can focus on delivering the highest quality of patient care.

SSMP, led by founder Dr. Peter Jaffe, provides patient-centric care at four locations in the Naples, FL area. Mike Cooper, a founding partner of Shore, commented, “We are thrilled to partner with Dr. Jaffe. He is one of the most respected and well-known physicians in West Florida. Having built a world-class practice, Dr. Jaffe shares our vision to deliver clinical excellence at greater scale.”

Dr. Jaffe said, “I partnered with Shore for their track record of transformational growth in healthcare and a shared belief in what it will take to be the leading interventional pain management platform in the Southeast. As healthcare continues to become more retail and consumer-oriented, the time is ideal to embrace growth, patient experience, and best in class programs and options for physicians in all stages of their careers. Southern Sports Medicine Partners is off to a great start and I have high aspirations for what we can achieve.”

SSMP will grow its platform across the region by investing in people and processes to support the operations, finance, accounting, marketing, human resources, and IT functions at affiliated practices, thereby allowing physicians to focus on clinical excellence and serving their communities. SSMP will pursue affiliations with independent interventional pain management practices to build a network of top clinicians in a physician-led culture.

“We are building a leader of scale in pain management and sports medicine, starting with Dr. Jaffe and his team,” said Mr. Cooper. “We are well-positioned to support the continued transition to consumer-directed healthcare, while maintaining the physician’s role and clinical expertise as the most critical aspect of treatment. Additionally, Shore has helped to bring together an exceptional board of directors consisting of industry thought leaders and physicians alike to guide our strategy and growth plan.”

SSMP represents the third platform investment out of Shore Capital Partners Fund III, L.P., a $293 million investment vehicle raised in April 2019.

To learn more about Southern Sports Medicine Partners, please visit www.http://www.southernsportsmp.com.

About Shore Capital

Shore Capital Partners is a Chicago-based private equity firm focused on microcap Healthcare and Food and Beverage investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has $1.1 billion of equity capital under management through various investment vehicles. For more information on Shore, please visit www.shorecp.com.

Commitment to Partnership Lands Spot in Annual Roundtop of Top Founder-Friendly Firms

CHICAGO, IL, October 30, 2020 – Shore Capital Partners (“Shore”), a private equity firm focused on microcap investments within the Healthcare and Food and Beverage industries, is pleased to announce its recognition on Inc.’s annual Private Equity 50 list of the most Founder-friendly private equity firms.

“Being recognized as a top choice for Founders is a proof point for our vision to be the premier microcap investor and first choice for entrepreneurs and executives seeking a growth partner,

" said Justin Ishbia, Managing Partner. "Our management philosophy is rooted in a shared vision of success developed jointly with our entrepreneurs. We take great pride in these partnerships and the teamwork it takes to generate consistent and repeatable results in the top 1%."

In a company statement, Scott Omelianuk, editor-in-chief of Inc. said, “I get the chance to interact with many entrepreneurs who have relentless drive and want to build a business that fixes problems, improves a process, or makes the world a better place. But to do that, it often takes the backing from a private equity firm that will provide more than just financial backing. It takes wholeheartedly supporting that vision and treating the Founders like partners.”

About the Private Equity 50 List

Inc. official materials state: the final list recognizes 50 firms that entrepreneurs can trust, collaborate with on new strategies, and look to help in financing acquisitions during these uncertain times. All 50 have a successful track record of backing entrepreneurs.

Mr. Omelianuk added in his recognition letter, “Applications for this year’s list were up more than a third over last year, and the final 50 firms came out on top in a highly competitive process, benefiting from a wealth of references from entrepreneurs who shared their positive experiences partnering with private equity.”

To compile the list, Inc. went straight to the source: entrepreneurs who have sold to private equity. Founders filled out a questionnaire about their experiences partnering with private equity firms and shared data on how their portfolio companies have grown during these partnerships.

To see the complete list of The Best Private Equity Firms for Entrepreneurs, visit: https://www.inc.com/private-equity/2020.

About Shore Capital Partners

Shore Capital Partners is a Chicago-based private equity firm focused on microcap Healthcare and Food and Beverage investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has $1.1 billion of equity capital under management through various investment vehicles. For more information, please visit www.shorecp.com.

About Inc.

The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community they need to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the Founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

CHICAGO--(BUSINESS WIRE)--Shore Capital Partners (“Shore”), a private equity firm focused on microcap investments within the Healthcare and Food and Beverage industries, is pleased to announce three new senior additions to its Chicago team.

These roles support Shore’s continued growth and strategy to provide operational expertise to portfolio companies.

"It is my pleasure to welcome Alex, Ankeet and Riley to Shore," said Justin Ishbia, Managing Partner. "Each will play an important role in our vision to be the premier microcap investor. We look forward to their contributions and teamwork."

Alex Nevill, Senior Associate. Prior to joining Shore, Mr. Nevill held a Senior Associate role at GTCR, where he focused on Healthcare. Earlier in his career, he had various Investment Banking positions in the Healthcare division at J.P. Morgan. Mr. Nevill earned a Bachelor of Science in Business from Indiana University.

Ankeet Patel, Senior Associate. Most recently Mr. Patel served as an Associate for Abry Partners. Previously he held roles of increasing responsibility at Madison Dearborn Partners and Citi Global Investment Banking. Ankeet earned a Bachelor of Science in Economics from the University of Illinois at Urbana-Champaign.

Riley Hall, Director. Ms. Hall joins the Shore Resource Team from PwC where she most recently served as a Senior Manager in the Deals platform, focusing on transaction execution and strategic planning. Ms. Hall earned a Bachelor of Science in Accounting and Finance as well as her Master of Business Administration from St. Bonaventure University in Buffalo, New York. She is a Certified Public Accountant.

About Shore Capital Partners

Shore Capital Partners is a Chicago-based private equity firm focused on microcap Healthcare and Food and Beverage investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has over $1 billion of equity capital under management through various investment vehicles. For more information on Shore, please visit www.shorecp.com.

March 4, 2020 – Shore Capital Partners (“Shore”), a Chicago-based private equity firm focused on microcap investments within the Healthcare and Food and Beverage industries, is pleased to announce the sale of its autism services portfolio company, Florida Autism Center / Fusion Autism Center (“FAC”), to BlueSprig Pediatrics (“BlueSprig”), a leading Houston, Texas based provider of autism services.

Shore Capital partnered with FAC founder Chryssy Moor’s four locations in 2015 with a goal of building the leading autism services platform in the southeast. Led by Chief Executive Officer Kristy Rohwedder, the team at FAC has evolved from its entrepreneurial beginnings into a rapidly growing enterprise, supported by highly scalable corporate infrastructure and a best in class leadership team. FAC is recognized industry wide as a market leader in the southeast with 52 total locations across Florida and Georgia. During the course of the partnership, Shore and the FAC management team have executed a repeatable de novo growth plan that has allowed the Company to scale rapidly in order to bring best-in-class autism services to as many clients as possible.

“We are pleased to have partnered with Kristy and Chryssy to build FAC into one of the leading autism services providers in the country,” said John Hennegan, co-founder of Shore Capital. “FAC demonstrates what is possible when clinically and operationally focused executives and investment professionals collaborate to build a business that provides desperately needed services into an attractive end market.

“Our goal has always been to increase the availability of our valuable services, so we can continue to positively impact the lives of children and families, and our partnership with BlueSprig will only increase our reach. We believe both organizations share an absolute commitment to providing the highest quality clinical services and that our values and philosophies are a wonderful fit,” said Kristy Rohwedder, CEO of FAC. “Shore’s operational oversight and financial support coupled with our management’s industry and clinical expertise helped facilitate the platform’s rapid expansion and we are excited to begin our partnership with BlueSprig to fuel the next phase of growth for FAC.”

The transaction closed on March 4, 2020. Terms of the transaction are not disclosed. Cain Brothers, a division of KeyBanc Capital Markets, provided M&A advisory services and Winston & Strawn provided legal advice to Shore Capital and FAC.

September 19, 2019 ‐ Founded in 1987 by Steve Marks and Harvey Nelson, Main Street Gourmet is a custom wholesale bakery providing frozen baked goods, including muffins, cookies, granola, brownies and bars, and other sweet goods to retail in-store bakery (“ISB”) and specialty foodservice customers across the United States. MSG operates out of an SQF certified 68,000 sq. foot manufacturing facility with approximately 160 employees in Akron, OH, and has been an important part of the community for more than 30 years.

Shore Capital is partnering with Mr. Marks and Mr. Nelson, the full MSG management team, and the previous majority shareholders, Clover Capital Partners, who helped guide the Company through a period of tremendous growth since partnering with the business in 2011. “We are proud of the custom and solutions-oriented bakery model we have built and scaled as a team and are excited to continue to serve our customers with a diverse range of high quality and differentiated products through a new phase of transformational growth. Our partnership with Shore Capital will allow us to accelerate our organic growth through expanding on our product capabilities, serving additional retail ISB and specialty foodservice customers and broadening our footprint by pursuing acquisitions with other differentiated bakeries in adjacent categories and channels,” said Mr. Nelson, CEO of MSG.

Shore plans to invest in the business development, sales & marketing, and production infrastructure to further enhance operations and explore opportunities for inorganic growth through acquisitions and organic growth through adjacent product lines, customers and distribution channels. “I have high aspirations for what we can collectively accomplish alongside Shore Capital and are excited to partner with a group that understands our value proposition as a custom, value-added supply chain partner. We continue to strive to be highly responsive with product development, able to commercialize new ideas in collaboration with our customers, and maintain flexibility to work with unique ingredients and processes,” added Mr. Marks, who formerly served alongside Mr. Nelson as co-CEO and will be serving on the Board of Directors under the partnership with Shore Capital.

“We could not be more excited to partner with the entire MSG team and look forward to creating a leading multi-regional bakery platform in the U.S. with a diverse range of high quality products, manufacturing capabilities and commitment to superior customer service,” said Richard Boos, Partner at Shore Capital and Chairman of MSG. “Harvey, Steve and Clover Capital have built an excellent business model focused on custom and solutions-driven products for its ISB and foodservice customers and we will work hard to collaborate with them to build on their success.”

About Shore Capital

Shore Capital is a Chicago-based private equity firm focused on microcap investments within the Healthcare and Food and Beverage industries. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has over $1 billion of equity capital under management through various investment vehicles. For more information, please visit: www.shorecp.com.

May 17, 2019 ‐ Shore Capital Partners (“Shore Capital” or “Shore”) is pleased to announce that it has formed Southern Ear, Nose, Throat and Allergy Partners (“SENTA”) and completed a strategic partnership with Northwest ENT and Allergy Center (“Northwest ENT” or the “Company”). Northwest ENT is a leading ear, nose and throat (“ENT”) and allergy services provider with seven locations including two affiliated ambulatory surgery centers in the Greater Atlanta, Georgia metro area. The Company offers comprehensive medical and surgical ENT and allergy services, including treatment for thyroid disorders, sinus conditions, ear pain, allergies, and throat disorders. Northwest ENT will continue to operate under its brand.

Shore Capital is partnering with Northwest ENT’s existing four partner physicians, Dr. Drew Locandro, Dr. Shatul Parikh, Dr. Ryan Kauffman and Dr. Avani Ingley, who have established a reputation for high quality medical and surgical specialty ENT and allergy care and lead a team of six doctors, one physician’s assistant, five audiologists and one nurse practitioner. Drew, Shatul, Ryan and Avani, and the Northwest ENT team have demonstrated impressive growth through the addition of new service lines and capabilities, recruiting talented physicians and specialists, and new center openings. “We are proud of the clinical foundation we have built as a team and are excited to continue to expand patient and referral partner access to our treatment and surgical services through a new phase of transformational growth. Our partnership with Shore Capital will allow us to accelerate our organic growth including opening new locations, hiring additional providers, and expanding our patient care and business support services while simultaneously pursuing affiliations with other leading practices,” said Dr. Parikh.

Shore plans to invest in infrastructure to further standardize operations and offer finance, accounting, compliance, marketing, human resources, IT and other support services to allow clinicians to focus on providing high quality ENT and allergy services. “Shore Capital is the ideal partner to help further our medical mission across a broader geographic reach and shares our commitment to leading clinical quality, operational excellence and increased patient access,” said Dr. Locandro. “I have high aspirations for what we can collectively accomplish and offer to our patients and their referring doctors,” commented Dr. Ingley. “We are thrilled about the partnership with Shore Capital and the deep healthcare experience and dedicated management and support services they bring to the table.”

SENTA and Northwest ENT will pursue affiliations with independent ear, nose and throat and stand alone allergy practices across the Southeast in order to build a leading network of doctors that maintains a patient-first culture with a clear focus on clinical care. “The partnership provides us with access to capital, administrative resources, operating expertise and strategic guidance while maintaining absolute focus on clinical quality as we seek to execute on our vision of building a leading ENT and allergy practice in the Southeast,” added Dr. Kauffman.

“We could not be more excited to partner with the entire Northwest ENT team and look forward to creating a leading ENT and allergy provider in the Southeast, while offering the highest level of support to our practices and clinicians,” said Chris Mioton, Chairman of SENTA. “Northwest ENT provides a solid foundation to build a best-in-class organization as SENTA seeks to be the partner of choice for practices throughout the Southeast who provide high quality patient care and desire a strategic partner to support their business operations and accelerate growth.”

This investment represents the eighth platform investment out of Shore Capital Partners Fund II, L.P., a $190 million investment vehicle raised in April 2017.

April 17, 2019 ‐ Shore Capital Partners (“Shore” or the “Firm”), a strategic private equity firm focused on the healthcare and food & beverage industries, announced the first and only closings of its third institutional healthcare private equity fund, Shore Capital Healthcare Partners Fund III (“HC Fund III”), and its inaugural food & beverage fund, Shore Capital Food & Beverage Partners Fund I (“F&B Fund I”). HC Fund III raised $293 million, while F&B Fund I raised $148 million. With these respective closings, Shore now manages a total committed capital base of more than $1 billion.

HC Fund III surpassed its original target of $250 million and was substantially oversubscribed. HC Fund III will continue the successful investment strategy employed by the firm’s partners Justin Ishbia, Ryan Kelley, Michael Cooper, John Hennegan, Don Pierce and Chris Mioton. HC Fund III will invest primarily in control buyouts, focusing on microcap healthcare businesses with revenues between $5 million and $100 million.

F&B Fund I, Shore’s newly established vehicle led by Justin Ishbia and Richard Boos, surpassed its original target of $125 million and was substantially oversubscribed. F&B Fund I will aim to make control equity investments in food & beverage manufacturing, distribution, packaging, and related B2B service companies that have between $5 million and $100 million of revenue.

Commitments to both HC Fund III and F&B Fund I came from the firm’s existing investors, plus select new limited partners. Together, the funds attracted strong interest from many sophisticated institutions in North America, resulting in a diverse investor base comprised of leading university endowments, financial institutions, funds of funds and family offices. Additionally, the partners of Shore have committed to invest a substantial amount of capital alongside both funds.

“We are thrilled and humbled by the reception these funds have received from such a highly-respected group of investors,” said Justin Ishbia, Founder and Managing Partner of Shore Capital Partners. “Having the ability to expand our expertise and knowledge into the food and beverage space while simultaneously continuing our original healthcare-focused strategy is an attractive opportunity for our limited partners and firm as whole. As we strive to continue achieving a top-tier track record, we sincerely thank our limited partners who have instilled a significant amount of trust and confidence in our experienced and talented team of investment and operating professionals.”

“In addition to our third healthcare-focused fund, we are very pleased to have successfully closed our inaugural food and beverage fund and look forward to partnering with entrepreneurs and seasoned executives to drive impactful growth,” said Ishbia. “As has been the case for many years and various cycles, we are confident that the food and beverage industry will continue to present quality investment opportunities, particularly within a number of niche sectors. We are eager to begin deploying this capital to help companies reach their full potential.”

Kirkland & Ellis LLP served as legal advisor to Shore Capital Partners for the fundraising efforts. Shore did not use a placement agent.

Congratulations to Justin Ishbia, founder and managing partner of Shore Capital, for being featured on the cover of Mergers & Acquisitions Magazine. See article below to learn more:

https://www.themiddlemarket.com/news/private-equity-firms-are-investing-in-veterinarians-opthamologists-dentists-and-other-healthcare-practices

"The winners in healthcare are those who adapt to the demands of consumers."

CHICAGO – November 1, 2017 – Shore Capital Partners (“Shore Capital” or “Shore”) is pleased to announce the recapitalization of Advanced Animal Hospital Group and Progressive Pet Animal Hospitals and merger of the respective businesses to form Midwest Veterinary Partners (“MVP” or the “Company”). The Company has 22 general practice veterinary clinics in Michigan, Wisconsin, and Illinois, and provides services to companion animals including vaccinations, surgery, wellness exams, oncology, ophthalmology, allergy treatment and dermatology. Financial terms of the transaction were not disclosed.

Shore has partnered with Dr. Vic Dhillon, owner of Advanced Animal Hospital Group, and Dr. Jeff Rothstein, owner of Progressive Pet Animal Hospitals, to pursue a consolidation of animal hospitals throughout the Midwest. Both Dr. Dhillon and Dr. Rothstein are entrepreneurial veterinarians with successful track records of acquiring and establishing high-quality animal hospitals.

“Since our founding, we have been firm believers that animals are not simply pets or property, they are members of the family, and we take great pride in helping to improve and maintain their health and overall well-being,” said Vic Dhillon, Advanced Animal Hospital Group founder. “As customized veterinary solutions have become more complex and demanding, we believe that collaborating with financial and strategic partners is beneficial for our customers and, of course, their beloved pets. With Shore Capital Partners’ investment and by joining forces with Progressive Pet Animal Hospitals, we will have the additional resources and capabilities to create a leading veterinary services company in the Midwest.”

“At Progressive Pet Animal Hospitals, we take great pride in offering extensive medical and preventative solutions for pets,” said Jeff Rothstein, Progressive Pet Animal Hospitals founder. “This investment and partnership will greatly expand our bandwidth and help grow our team of passionate and knowledgeable veterinary professionals. Both Shore Capital Partners and Advanced Animal Hospital Group are well-aligned with our mission and core values and we are delighted to now be operating under the Midwest Veterinary Partners brand.”

Shore plans to invest in infrastructure to standardize operations and provide support to MVP’s current and future clinics including centralized finance, accounting, human resources, IT, sales and marketing.

With pet ownership among U.S. households at an all-time high of 68%, and an increase in the average lifespan of pets, ownership costs have continued to rise and demand for veterinary services has increased. Veterinary service expenditures in the U.S. are expected to continue growing at more than 4% CAGR, surpassing $46 billion by 2021.

“Advanced Animal Hospital Group and Progressive Pet Animal Hospitals are terrific businesses that each have a reputation for providing high quality care and treatment for pets of all kinds, and that provide highly complementary services,” said Mike Cooper, a Partner at Shore Capital Partners. “Importantly, as pet ownership levels continue to increase, we believe this investment and merger represents a strategic opportunity to take advantage of a fragmented, yet growing market and to consolidate veterinary clinics throughout the Midwest. We are very pleased to partner with Vic, Jeff and their respective teams, and are eager to begin aggressively scaling this new company.”

This investment represents the fourth platform investment out of Shore Capital Partners Fund II, L.P., a $190 million investment vehicle raised in April 2017.

Katten Muchin Rosenman LLP provided legal counsel to Shore Capital Partners. Butzel Long provided legal counsel to the Advanced Animal Hospital Group and Progressive Pet Animal Hospitals.

About Shore Capital

Shore Capital is a Chicago-based private equity firm focused exclusively on microcap healthcare investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has approximately $350 million of equity capital under management through various investment vehicles including Shore Capital Partners Fund II, L.P. with $190 million of capital commitments. For more information, please visit: www.shorecp.com.

CHICAGO – November 2017 – Shore Capital Partners (“Shore Capital” or “Shore”) is pleased to announce the recapitalization of BrightView, LLC (“BrightView” or the “Company”). Headquartered in Cincinnati, the Company currently has 4 locations in Ohio and provides psychological, social and medical services, including medication assisted treatment, to individuals suffering from addiction. Financial terms of the transaction were not disclosed.

Shore has partnered with BrightView to increase access to effective comprehensive addiction treatment throughout Ohio and the surrounding states. Chad Smith, Chief Executive Officer (CEO), co-founded the Company in 2014 and has successfully led and grown the business, opening centers three and four this past summer. The Company plans to grow quickly to help address the immense unmet need for comprehensive medication assisted treatment across Ohio.

“We created BrightView with the goal of helping those in greatest need of addiction treatment services. Our comprehensive approach differentiates us from other providers and grants patients the greatest opportunity for a successful recovery,” stated Mr. Smith. “When we found Shore Capital, we discovered an ideal partner that would support our community center growth while never compromising on clinical quality.”

Shore plans to invest in infrastructure to standardize operations and provide support to BrightView’s current and future clinics including centralized finance, accounting, human resources, IT, development and marketing.

Rates of addiction and drug abuse, specifically opiates, are at an all-time high and have been rising steadily across all demographic groups and states since 2010. Drug overdoses are currently the leading cause of death in the U.S. for people under 50. In 2016, 11.8 million people reported misusing opioids. Further, 2.1 million individuals met the clinical criteria for having an opioid disorder. According to The National Survey on Drug Use and Health, as of 2015, only 11% of those suffering from a substance use disorder received treatment. BrightView hopes to help alleviate this treatment gap, by providing both high quality treatment and easily accessible care.

“BrightView’s differentiated model of care makes them the ideal partner as we set out to help more patients and communities in the Ohio Valley region,” stated John Hennegan, a Partner with Shore Capital. “Chad, his co-founders, and the entire BrightView team work each day to battle the biggest medical crisis of our time. We’re excited to utilize our experience in scaling leading healthcare service companies to assist them.”

This investment represents the third platform investment out of Shore Capital Partners Fund II, L.P., a $190 million investment vehicle raised in April 2017.

About Shore Capital

Shore Capital is a Chicago-based private equity firm focused exclusively on microcap healthcare investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has approximately $350 million of equity capital under management through various investment vehicles including Shore Capital Partners Fund II, L.P. with $190 million of capital commitments. For more information, please visit: www.shorecp.com.

Renton, WA – November 2017 – Navia Benefit Solutions, Inc. is pleased to announce that it has formed a growth partnership with Shore Capital Partners, a Chicago-based private equity firm focused on the healthcare industry. Founded in 1989, Navia is a leading third-party administrator (“TPA”) of consumer directed health benefit solutions serving clients nationwide.

Shore partnered with Hilarie Aitken and Matt Aitken who have led Navia through a period of tremendous growth since taking an active leadership role in 2003 following the passing of their father, Stan Aitken. Under the name Flex-Plan Services, Inc., Brothers Stan and Jim Aitken founded Navia in 1989 after seeing an opportunity to help employers administer tax-advantaged account based benefits such as Flexible Spending Accounts (“FSA”). Since then, Navia has evolved to offer other tax-advantaged benefits including Commuter and Transit Benefits, Health Savings Accounts (“HSA

"), Health Reimbursement Arrangements (“HRA”) and COBRA services.

“We believe Shore is the ideal partner to help facilitate growth through the expansion of our platform with new products and services over the coming years. We continue our commitment to providing the highest quality customer service and differentiated product offerings,” explained Ms. Aitken, CEO, who continues to lead the Company and will maintain a significant ownership position. “Shore’s support of strategic growth initiatives and proven expertise in partnering with other family-owned healthcare service businesses is impressive. We look forward to the opportunity to expand our platform with new products to new and existing customers.”

A highly experienced Board of Directors joins Navia in connection with the partnership to help execute Navia’s growth plan. The three independent Directors joining Navia include: (i) Greg Bell: experienced TPA operator and founder of First Benefit Corp. and HealthX, (ii) Jim Forrest: founding investor and former Director of MBI (now Alegeus), a leader in FSA payment processing technology, and (iii) Bill Clendenen: founder and former CEO of Health & Safety Institute, a compliance, safety and training services business that realized enterprise value growth of over 24% annually from 2006 to 2016 across three different private equity partnerships.

Ryan Kelley, a Partner at Shore Capital noted that, “We are excited to partner with a proven industry leader such as Navia. Supporting the growth of Navia by investing in products, people, and process to scale their unique TPA service offering is what we do best. After studying the broader payor services landscape, we believe that Navia represented an exceptional opportunity for Shore to grow a company well-positioned for an acceleration in consumer-directed healthcare. When you boil it down, Navia is helping consumers manage first dollar out-of-pocket healthcare expenses. The need for Navia’s services are only becoming more relevant given the rapid increase in health insurance premiums and rising healthcare deductibles pushed onto consumers.”

Navia represents the fifth platform investment out of Shore Capital Partners Fund II, L.P., a $190 million investment vehicle raised in April 2017.

About Shore Capital

Shore Capital Partners is a Chicago-based private equity firm focused exclusively on lower middle market healthcare investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, and fund acquisitions. Shore has approximately $350 million of equity capital under management through various investment vehicles including the recently formed Shore Capital Partners Fund II, L.P. with $190 million of capital commitments.

ATLANTA, GA, August 2, 2017 – Shore Capital Partners ("Shore Capital"), a leading lower middle market healthcare private equity firm, is pleased to announce its portfolio company EyeSouth Partners (“EyeSouth” or the “Company”) has completed a strategic partnership with Georgia Retina, one of the largest retina medical practices in the Southeast.

“Our primary aim at Georgia Retina has always been to deliver exceptional medical and surgical retinal care combined with an outstanding patient experience,” said Dr. Michael Jacobson, who along with Dr. Scott Lampert founded Georgia Retina in 1994. “To further and build upon this mission in the rapidly changing healthcare environment, we have decided to enlist Shore Capital and EyeSouth as our partners to help us strengthen and expand our administrative and organizational structure.”

For over 20 years, Georgia Retina and its 13 board-certified ophthalmologists have offered first-class expertise in the treatment of diseases of the retina, macula, and vitreous to patients via 12 locations in the Atlanta metro area and throughout Georgia, including a strong commitment to providing care in underserved areas.

“Georgia Retina, EyeSouth and Shore Capital share similar cultural values,” said Dr. Atul Sharma, Managing Partner of Georgia Retina. “We are all committed to clinical excellence, increasing access to high quality care and providing our employees with opportunities for personal and professional growth. “We have a common vision of building a leading ophthalmology practice in the Southeast.”

“We are certain that Shore Capital and EyeSouth will enhance our ability to offer personalized cutting-edge care, the latest technologies, and expanding clinical research,” said Dr. Mark Rivellese of Georgia Retina. “We look forward to working together to better serve our patients throughout Georgia.”

Georgia Retina will continue to operate under its brand in the community with no changes to its staff, physicians or locations. Paul Lucas, CFO and Administrator of Georgia Retina, will continue to lead Georgia Retina as the President of EyeSouth’s Posterior (retina) Division.

“In the early days of forming EyeSouth, it was clear to us that Georgia Retina had a reputation in Georgia and the Southeast for leading clinical quality that aligned well with EyeSouth’s culture and vision,” said Justin Ishbia, Managing Partner at Shore Capital. “We are very excited to partner with the Georgia Retina physicians, Paul and their team as we continue to build a premier network of medical and surgical eye care services in Georgia and the Southeast.”

EyeSouth previously completed an affiliation with Georgia Eye Partners in February 2017. EyeSouth’s affiliate network consists of 26 doctors providing medical and surgical eye care services at 17 locations in Georgia.

About Georgia Retina

Headquartered in Atlanta, GA with 12 locations, Georgia Retina is one of the largest retina-only medical practices in the southeastern U.S. For over 20 years, Georgia Retina’s board-certified ophthalmologists have been offering first-class expertise in the treatment of diseases of the retina, macula and vitreous.

About EyeSouth Partners

Headquartered in Atlanta, GA, EyeSouth Partners (“EyeSouth”) is an eye care services organization committed to partnering with leading physicians to build a premier network of eye care services in Georgia and the Southeast. EyeSouth’s partner practices’ clinical mission is to provide high quality medical and surgical specialty eye care. EyeSouth supports its affiliated practices and physician partners with capital, administrative resources, operating expertise, and strategic guidance with an absolute focus on clinical quality and a patient-first culture. EyeSouth’s affiliate network consists of 26 doctors practicing at 17 locations in Georgia.