KippsDeSanto & Co. advises CRAssociates, Inc. on its sale to Valor Healthcare, a portfolio company of Trive Capital
KippsDeSanto & Co. is pleased to announce the sale of its client, CRAssociates, Inc. (“CRA” or the “Company”) to Valor Healthcare (“Valor”), a portfolio company of Trive Capital.
Headquartered in Newington, Virginia, CRA is a leading operator of Community-Based Outpatient Clinics (“CBOCs”) for the Department of Veterans Affairs nationwide, providing the U.S. Veteran population with easy and convenient access to quality healthcare. These clinics provide outpatient services, including but not limited to routine diagnostic procedures, immunizations, behavioral healthcare, and health and wellness visits. In addition, CRA manages an acclaimed occupational health program with multiple clinics spanning several states.
The transaction is expected to enhance Valor’s geographic reach and strengthen its position within existing core markets.
We believe this transaction highlights several key trends in the Government Services M&A market:
- Enhanced interest in health-related markets given ongoing demographic and anticipated budget trends
- Significant interest for companies with entrenched customer relationships and strong past performance qualifications
- Private equity continues to aggressively deploy capital through its existing portfolio companies to supplement growth and accelerate to scale
About KippsDeSanto & Co.
KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience. For more information, visit www.kippsdesanto.com.
Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency
Valor Healthcare Acquires CRAssociates
Dallas, Texas – Valor Healthcare, Inc. (“Valor” or the “Company”), a portfolio company of Trive Capital, is excited to announce its recent acquisition of CRAssociates, Inc. (“CRA”). Founded in 1997 and headquartered in Springfield, VA, CRA is an outsourced provider of Community-Based Outpatient Clinics (“CBOC”) for Veteran Affairs Medical Centers. Key service offerings include design and development of mission critical healthcare facilities logistics and management of healthcare professionals to provide comprehensive, cost-effective healthcare services for government and corporate clients throughout the United States.
Dr. Scott Wise, CEO of Valor and a veteran himself stated, “Valor is a leader in the CBOC market, and we are excited about the addition of the CRA leaders and staff to join in our continued success and expansion. We share in our passion for the mission and look forward to continuing to enhance our healthcare service offerings for our federal government partners.”
“We would only embark on the transfer of our CRA family to the best leader in our industry as we believe there is no compromise on quality and doing what is right for our veterans,” commented Charlie “Chief” Robbins, COO, Senior Executive Vice President at CRAssociates, Inc. “With their leadership and combined CRA leadership we now have here at CRA, Valor becomes a powerful leader postured for growth and success for the future across the U.S.”
Conner Searcy, Managing Partner at Trive, added, “We have been pleased with our partnership with the Valor management team and continue to be firm believers in the Company’s mission. The addition of CRA is the first step in expanding the Company’s reach in serving our nation’s veterans and brings additional capabilities in the occupational health and wellness space. The team is keen on continuing to provide high quality healthcare and ancillary services in our communities and serving federal government customers.”
Valor is actively seeking add-on opportunities in the federal agency contracted healthcare services industry, including but not limited to, medical or medical facility contracting, mental health and behavioral services, onsite healthcare and wellness for federal offices, government and medical staffing, and OCONUS opportunities within the healthcare and government contracting industries.
About Valor Healthcare, Inc.
Valor Healthcare Inc. will now operate more than 50 VA community-based outpatient clinics in the United States as a contractor for the US Department of Veteran Affairs. Valor provides a full range of medical services to veterans through the operation of CBOCs tailored to meet the specific needs of local VA medical centers. The company’s comprehensive set of services includes primary care, diagnostics, laboratory, telehealth, behavioral health, and occupational health and wellness.
About Trive Capital
Trive Capital is a Dallas, Texas based private equity firm with approximately $3.6 billion in assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.
The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive’s targeted industry sectors and situations.