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BLR said Tuesday that it has acquired HCPro and HealthLeaders Media brands. No financial terms were disclosed. Berkery Noyes served as HCPro’s exclusive financial advisor in the transaction. NewStar Financial, Northcreek Mezzanine and Tenth Street Capital helped provide financing for the acquisition. HCPro is a provider of information, education and training in the areas of healthcare regulation and compliance. HealthLeaders Media, which is a subsidiary of HCPro, is a multiplatform media company that serves the business needs of healthcare professionals and executives.
Brentwood, TN (PRWEB) November 05, 2013
BLR®—Business & Legal Resources—announces the acquisition of the HCPro and HealthLeaders Media brands and certain assets. BLR® is the leading compliance information provider for Human Resources, Environmental, Safety, and Employee Training professionals. HCPro is a leading provider of integrated information, education and training in the vital areas of healthcare regulation and compliance.
“For more than 20 years, HCPro has built a reputation for top quality content, solutions and training. It serves its audience of healthcare professionals with the same passion and commitment that drive the team at BLR®,” said BLR® CEO Dan Oswald. “Bringing these two companies together allows us to continue to expand our business as the leader in compliance information, training, and related solutions.”
”We are delighted that HCPro and Health Leaders will continue to provide their exceptional, valued services to clients in the marketplace under BLR® ownership,” said HCPro CEO Jim Malkin. “At the same time, we are excited to continue to serve the professional clients of The Greeley Company, which will continue its strategic growth under our ownership.”
Terms of the deal were not disclosed. Tom O’Connor, Managing Director for Berkery Noyes & Co. LLC, led the transaction team on behalf of HCPro. Berkery Noyes has been involved with many of the most notable transactions in the healthcare/life science, technology and information sectors involving both financial and strategic buyers and sellers. Berkery Noyes acted as HCPro’s exclusive financial advisor in its negotiations with BLR®.
The acquisition was financed with the assistance of NewStar Financial, Northcreek Mezzanine and Tenth Street Capital.
About BLR®—Business & Legal Resources
For over 35 years, BLR® has simplified compliance with state and federal legal requirements, helping U.S. businesses succeed. BLR® offers authoritative content, training, and practical, easy-to-use tools for the HR & employment law, workplace safety, environmental compliance, compensation & benefits, and politics & legal markets. Through our expert in-house editors and exclusive attorney network, we provide the most comprehensive, reliable state-specific information available—and we do it in all 50 states. Our award-winning information products—including training programs, events, web portals, reports and subscription services—give businesses of all sizes and industries the best tools available at affordable prices.
BLR® products and services include the online information services HR.BLR.com, Compensation.BLR.com, Safety.BLR.com, Enviro.BLR.com, and HRlaws.com, online training system TrainingToday, TRAC360 for SPCC, and the Advanced Employment Issues Symposium. Many of BLR®’s employment law products and events are developed in conjunction with the Employers Counsel Network, an affiliation of 50 law firms, one in each state, representing management in employment law matters.
About NewStar Financial
NewStar Financial (Nasdaq:NEWS) is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle market. The company specializes in providing senior secured debt financing options to mid-sized companies to fund working capital, growth strategies, acquisition and recapitalization, as well as, equipment purchases. NewStar originates loans and leases directly through a team of experienced, senior bankers and marketing officers organized around key industry and market segments. The Company targets ‘hold’ positions of up to $35 million and selectively underwrites or arranges larger transactions for syndication to other lenders. NewStar is headquartered in Boston, Mass., and has regional offices in Darien, Conn.; Atlanta, Ga.; Chicago Ill.; Dallas, Tex.; Los Angeles, Calif.; Philadelphia, Pa.; San Francisco, Calif.; and Portland, Ore. For more information, please visit http://www.newstarfin.com.
About Northcreek Mezzanine
Northcreek Mezzanine Fund I, L.P., makes creatively structured mezzanine and senior debt investments in lower middle-market companies. Northcreek has developed a strong and valued reputation as a trusted and reliable financial partner, targeted companies with revenues between $5 and $150 million. Northcreek invests in a variety of transactions including leveraged acquisitions, recapitalization, growth/expansion, buyout and balance sheet re-positioning or senior deleveraging. Northcreek is a licensed Small Business Investment Company (“SBIC”) with financial resources of $60 million composed of partnership equity and funding provided by the U.S. Small Business Administration through its Debenture program. For more detailed information, please visit http://www.northcreekmezzanine.com.
About Tenth Street Capital
For over 15 years, the Principals of Tenth Street Capital have been originating and managing successful private mezzanine investments in lower middle-market companies. Tenth Street Capital invests $3 million to $15 million in each transaction and will work with business owners and private equity sponsors to structure transactions that fit the unique needs of each individual company. Tenth Street Capital looks for strong and experienced management, a history of stable and sustainable financial performance, a recognized market position with a diverse customer base and a capital structure appropriate for the company’s level of operating risk. Tenth Street Fund III, L.P., was formed in 2011 when the Principals of Tenth Street Capital and the Morgan Keegan Private Funds Group joined forces. Tenth Street Capital has offices in Chattanooga and Nashville, Tenn. For more detailed information, please visit: http://www.tenthstreetcapital.com.
About Berkery Noyes
Berkery Noyes provides strategic mergers and acquisitions (M&A) transaction advisory services to middle-market healthcare, technology and information companies in the United States and internationally. The firm has advised many notable companies including ExitCare in its sale to Elsevier, Therapeutic Research in its sale to Francisco Partners, H.W. Wilson in its sale to EBSCO and UpToDate in its sale to Wolters Kluwer. For more detailed information, please visit: http://www.berkerynoyes.com.
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