NEW YORK & DURHAM, N.C. — Grant Avenue Capital, LLC (“Grant Avenue”), a lower middle market healthcare-focused private equity firm, and the founding partners of CREO, Inc. (“CREO” or the “Company”), an award-winning provider of strategy, M&A, digital transformation, cybersecurity, IT quality and regulatory compliance consulting services to life sciences and healthcare organizations, today announced a recapitalization of CREO. Terms of the transaction were not disclosed.
Founded by Chief Executive Officer Susan Acker-Walsh, and President Mike Townley, CREO seeks to advance innovation in human health by providing holistic solutions to its life science and healthcare company customers that help them reach their full potential and overcome multi-faceted industry challenges. Since inception in 2015, CREO has established a proven track record of business performance and customer growth, as evidenced by CREO being named to the Inc. 5000 list of America’s fastest-growing private companies for the past 4 years and included several times on the Triangle Business Journal’s Fast 50 list of the fastest-growing companies in the Triangle region.
“We are very excited to embark on the next phase of our Company’s journey with the support of Grant Avenue,” said Ms. Acker-Walsh. “CREO and Grant Avenue share a vision of making good companies better so that they can create a better, healthier world. Grant Avenue’s significant healthcare investment experience, deep industry network, and flexible capital approaches make the firm an ideal partner for us as we continue to build on our successful growth.”
Grant Avenue will work hand-in-glove with Ms. Acker-Walsh and Mr. Townley to continue executing CREO’s business objectives to drive value for CREO customers and the healthcare industry at large.
“CREO is well recognized for its unique blend of value creation services for industry organizations, leaders and investors, and we are pleased to partner with the Company at this pivotal point in its evolution,” added Brian Berkin, Managing Director at Grant Avenue. “Susan and Mike have established an incredible platform for helping life sciences and healthcare organizations grow. Grant Avenue is eager to help strengthen CREO’s reach and impact across new geographies, partnerships, service offerings, and M&A.”
“This partnership is a big win for both our clients and our employees,” concluded Mr. Townley. “Our customers depend on us to provide industry expertise, technical skills, and operational acumen to help them scale up. The support of Grant Avenue enables us to do just that: provide our customers with the additional growth services they demand and deserve.”
Clearsight Advisors served as financial advisor to CREO and Crosstree Capital Partners served as financial advisor to Grant Avenue in connection with the transaction.
About Grant Avenue Capital, LLC
Grant Avenue Capital is a healthcare-focused, middle-market private equity firm targeting investments alongside forward-thinking management teams that seek an experienced and innovative investor with highly flexible capital, both in terms of duration and structure. While a typical investment will involve companies generating approximately $5 million to $25 million of EBITDA, Grant Avenue Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, joint-control partnership investments, and special situations. In addition, the Grant Avenue Foundation supports employees and portfolio companies of Grant Avenue Capital that are actively engaged with healthcare-oriented charitable organizations. Visit Grant Avenue Capital at www.grantave.com.
CREO, Inc. is the preferred consultancy to the world’s most promising companies that seek to improve human health. CREO serves growing life sciences, healthcare and private equity portfolio companies across the U.S. and international markets. The company’s expertise and knowledge in Strategy, M&A, Digital Transformation, Cybersecurity, and IT Quality & Regulatory Compliance help organizations improve today’s business performance and develop tomorrow’s clinical innovations. Founded in 2015, CREO is headquartered in North Carolina’s Research Triangle Park. Join us and together let’s make a meaningful difference. Visit CREO at www.creoinc.net.