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Growth Equity
llrpartners.com

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Investments

134

Portfolio Exits

69

Funds

9

Partners & Customers

1

Service Providers

3

About LLR Partners

LLR Partners is a middle market private equity firm investing in growth companies with proven business models and strong management teams. The firm partners with companies in six industries: business services; consumer & education; financial services; healthcare services; security, defense & government services; and software & IT services. The firm provides capital for growth, recapitalizations and buyouts.

LLR Partners Headquarter Location

2929 Arch Street

Philadelphia, Pennsylvania, 19104,

United States

215-712-2900

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Latest LLR Partners News

Revecore Acquires Kemberton and Cura, Creating One of the Leading Specialized Revenue Cycle Management Platforms in the Country

Aug 3, 2022

August 03, 2022 08:03 AM Eastern Daylight Time FRANKLIN, Tenn.--( BUSINESS WIRE )--Revecore, a leading provider of revenue integrity and complex claims solutions for health systems, announced today that it has acquired two specialized revenue cycle management firms: Kemberton, based in Franklin, TN and Cherry Hill, NJ, and Cura Revenue Cycle Management, based in Tampa, FL. With these acquisitions, Revecore continues to execute on creating a leading portfolio of tech-enabled solutions to drive improved outcomes for health systems across the country. Dave Wojczynski, CEO of Revecore, will lead the combined entity. "We are in a unique position to bring together firms that share our client-focused vision and value proposition of deploying a broad array of technology-driven solutions that optimize workflow to resolve the most complex claims and reimbursement challenges for health systems," said Dave Wojczynski, Revecore’s CEO. "By combining efficient technology platforms with some of the industry’s most talented and experienced experts, we are well positioned to deliver greater value and recoveries to healthcare providers. We all share a culture of inclusion and a passion for serving our clients. This enhances our ability to collectively solve the most challenging revenue cycle issues. I am confident this strategic combination will result in even better financial outcomes for our clients." "The opportunity to combine these companies with complementary technologies and expertise is very compelling," said Mark McVeety, current CEO of Cura Revenue Cycle Management. "Revecore has an excellent track record in revenue integrity and complex claims solutions. We both have a client first culture, and I’m excited to continue to build on our joint capabilities and deliver results for our clients." "Teaming up with Revecore is a great next step in the evolution of the RCM industry," said George Abatjoglou, current CEO of Kemberton. "With decades of experience and knowledge, the scale and capabilities of the combined organization will unlock greater opportunities to deliver best-in-class solutions that will not only benefit all of our combined clients but also enhance the patient-provider relationship." LLR Partners is a current investor in Kemberton and will retain a minority equity interest in Revecore as a part of the transaction. Revecore is supported by its institutional shareholders GrowthCurve Capital, which completed its acquisition of Revecore in April 2022, and Riverside Partners, which continues to be a significant investor in the business alongside GrowthCurve and management. Vignesh Aier, Head of Healthcare Investing at GrowthCurve Capital, commented on behalf of the investors, “We are excited to support Revecore in making these strategic acquisitions. We believe the capabilities, scale, and technologies these companies bring will help Revecore continue strengthening its position as a leading provider of specialized revenue cycle management services for the country’s leading health systems.” Revecore, GrowthCurve, and Riverside Partners were advised by TripleTree as financial advisor; McDermott Will & Emory and Davis Polk as legal counsels; and Alvarez & Marsal as financial and operational advisor. Cura was represented by Robinson+Cole, and Kemberton was represented by Goodwin Proctor. About Revecore Revecore, is a leading provider of (i) revenue integrity solutions for underpayments and denial prevention and (ii) complex claims reimbursement solutions for motor vehicle accident, workers’ compensation and Veterans Affairs claims. Revecore serves nearly 1,200 hospitals across the country, offering hospitals and health systems over two decades of unrivaled technology and expert insight into the most challenging areas of revenue cycle to ensure they are appropriately reimbursed for the care they provide. In addition to being #1 Ranked in Complex Claims by KLAS, Revecore holds the distinguished HFMA Peer Review Status for underpayment recovery and complex claims solutions. For more information, please visit www.revecore.com. About Kemberton Kemberton is a specialized revenue cycle management firm dedicated to improving complex claims reimbursement by deploying a dedicated team of technology-enabled experts that advocate for every patient. Serving more than 400 hospitals and processing more than one million claims per year, Kemberton's distinct combination of expert trained claims resolution advocates, advanced workflow automation technology, and proprietary payer search engine offers an impressive and comprehensive end-to-end model for success. For more information, please visit www.kemberton.net . About Cura Revenue Cycle Management Cura Revenue Cycle Management is a specialized provider of software-enabled underpayment identification and recovery services to hospitals and health systems nationwide. Through the application of unique technology solutions and deep industry expertise, Cura solves complex revenue cycle challenges which are missed by healthcare providers and vendors. Leveraging its proprietary software, Cura reviews millions of accounts annually and accurately identifies those with actionable underpayments. For more information, please visit www.curarcm.com. About GrowthCurve Capital GrowthCurve Capital is a private equity firm focused on building world-class businesses by leveraging data, analytics, and machine learning, combined with a comprehensive approach to human capital, to accelerate growth and drive value creation. Founded by Sumit Rajpal, former global co-head of the Goldman Sachs Merchant Banking Division, the firm focuses on control-oriented private equity investments primarily across the financial and information services, healthcare, and technology sectors. For more information, please visit www.growthcurvecapital.com and follow the firm on LinkedIn. About Riverside Partners Founded in 1989, Riverside Partners is a middle market private equity firm currently investing out of its sixth fund. The fund focuses on growth-oriented companies in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. Today, Riverside Partners manages about $1.1 billion of equity capital and seeks to make investments in companies with EBITDA between $3 and $15 million. For more information, please visit www.riversidepartners.com . About LLR Partners LLR Partners is a lower middle market private equity firm investing in technology and healthcare businesses. LLR collaborates with its portfolio companies to identify and execute on key growth initiatives and help create long-term value. Founded in 1999 and with more than $5 billion raised across six funds, LLR is a flexible provider of equity capital for growth, recapitalizations and buyouts. Learn more at www.llrpartners.com . Contacts

LLR Partners Investments

134 Investments

LLR Partners has made 134 investments. Their latest investment was in Allmark Door as part of their Growth Equity on May 5, 2022.

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LLR Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/19/2022

Growth Equity

Allmark Door

Yes

1

5/12/2022

Private Equity

AdeptAg

Yes

1

2/3/2022

Growth Equity

ParkHub

$100M

Yes

2

1/25/2022

Growth Equity

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10

1/25/2022

Growth Equity

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10

Date

5/19/2022

5/12/2022

2/3/2022

1/25/2022

1/25/2022

Round

Growth Equity

Private Equity

Growth Equity

Growth Equity

Growth Equity

Company

Allmark Door

AdeptAg

ParkHub

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Amount

$100M

New?

Yes

Yes

Yes

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Co-Investors

Sources

1

1

2

10

10

LLR Partners Portfolio Exits

69 Portfolio Exits

LLR Partners has 69 portfolio exits. Their latest portfolio exit was Kemberton on August 03, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/3/2022

Acquired

$99M

1

7/26/2022

Acquired

$99M

1

7/7/2022

Acquired

$99M

2

6/28/2022

Merger

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$99M

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10

12/28/2021

Reverse Merger

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$99M

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10

Date

8/3/2022

7/26/2022

7/7/2022

6/28/2022

12/28/2021

Exit

Acquired

Acquired

Acquired

Merger

Reverse Merger

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

1

2

10

10

LLR Partners Acquisitions

21 Acquisitions

LLR Partners acquired 21 companies. Their latest acquisition was Geoforce on December 17, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

12/17/2019

Debt

$99M

$16M

Acq - Fin

2

6/20/2017

$99M

Acq - Fin

3

1/10/2017

$99M

Acq - Fin

1

5/17/2016

Other Venture Capital

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$99M

$99M

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10

9/2/2015

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$99M

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10

Date

12/17/2019

6/20/2017

1/10/2017

5/17/2016

9/2/2015

Investment Stage

Debt

Other Venture Capital

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$16M

$99M

Note

Acq - Fin

Acq - Fin

Acq - Fin

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Sources

2

3

1

10

10

LLR Partners Fund History

9 Fund Histories

LLR Partners has 9 funds, including LLR Equity Partners VI.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/19/2020

LLR Equity Partners VI

$1,800M

3

6/13/2018

LLR Equity Partners V

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$99M

10

3/6/2014

LLR Equity Partners IV

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$99M

10

8/7/2008

LLR Equity Partners III

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$99M

10

2/14/2005

LLR Equity Partners II

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$99M

10

Closing Date

10/19/2020

6/13/2018

3/6/2014

8/7/2008

2/14/2005

Fund

LLR Equity Partners VI

LLR Equity Partners V

LLR Equity Partners IV

LLR Equity Partners III

LLR Equity Partners II

Fund Type

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Status

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Amount

$1,800M

$99M

$99M

$99M

$99M

Sources

3

10

10

10

10

LLR Partners Partners & Customers

1 Partners and customers

LLR Partners has 1 strategic partners and customers. LLR Partners recently partnered with Audax Group on November 11, 2018.

Date

Type

Business Partner

Country

News Snippet

Sources

11/15/2018

Partner

United States

Audax Private Equity and LLR Partners complete sale of Numotion

Audax Private Equity and LLR Partners , in partnership with management , have completed the sale of Numotion to AEA Investors and Numotion management .

2

Date

11/15/2018

Type

Partner

Business Partner

Country

United States

News Snippet

Audax Private Equity and LLR Partners complete sale of Numotion

Audax Private Equity and LLR Partners , in partnership with management , have completed the sale of Numotion to AEA Investors and Numotion management .

Sources

2

LLR Partners Service Providers

3 Service Providers

LLR Partners has 3 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Private Equity

Counsel

General Counsel

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Service Provider

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Associated Rounds

Private Equity

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Provider Type

Counsel

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Service Type

General Counsel

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Partnership data by VentureSource

LLR Partners Team

2 Team Members

LLR Partners has 2 team members, including current Chief Financial Officer, Noah Becker.

Name

Work History

Title

Status

Noah Becker

Chief Financial Officer

Current

Geoffrey Baird

Momenta, Tailwind Capital, AGT International, 3i-MIND, Avaya, Motorola, Commtag, Xtempus, 3Com, Psion PLC, and RM Group

Senior Managing Director

Former

Name

Noah Becker

Geoffrey Baird

Work History

Momenta, Tailwind Capital, AGT International, 3i-MIND, Avaya, Motorola, Commtag, Xtempus, 3Com, Psion PLC, and RM Group

Title

Chief Financial Officer

Senior Managing Director

Status

Current

Former

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