OAKBROOK TERRACE, IL – November 8, 2022 – Prairie Capital Advisors, Inc. (“Prairie”), a leading middle-market investment bank, acted as financial advisor to Strategic Health Partners DBA MAK Anesthesia (“MAK Anesthesia” or the “Company”) in the sale of the company to an employee stock ownership trust.
Founded in 2011, MAK Anesthesia, holds a common belief that patient safety and quality outcome are the cornerstones to creating an effective anesthesia practice. The Company is based out of Kennesaw, GA and provide hospital-based services, ambulatory based services and consultative services. They pride themselves on their “212 Culture,” which originates from 212° being the temperature at which steam can power a train, or in their case, the extra effort (degree). They believe that one extra degree of effort can make all the difference in the life of their patients, the success of the organizations they serve and their ability to serve communities with a philanthropic focus.
Prairie worked closely with the management team and sellers, providing advisory expertise and managing the preparatory, due diligence and negotiation phases of the transaction, as well as structuring the financing for the transaction. Terms of the transaction were not disclosed. “What began as a small group of providers with a focus on putting service first has blossomed into a movement! After 10 years in business, we have now transitioned to a 100% employee-owned company,” says Dr. Pamela Weigandt, President of MAK Anesthesia. “We are so excited for the future. We’ve got a great team and are always looking for anesthesia providers that want to be part of something unique.”
“Dr. Weigandt had a very inspiring vision of the future and how the ESOP could help contribute to the growth, success, independence and sustainability of the Company,” commented Michael McGinley, Managing Director at Prairie. “Dr. Weigandt chose the ESOP exit route for all the right reasons, including employee retention, attracting new talent, and maintaining their independence and client-focused culture. She was also able to get liquidity while still being involved in the business and defer capital gain taxes through a 1042 election.” added Himanshu Chaudhry, Vice President at Prairie.
About Prairie Capital Advisors
Prairie offers investment banking, ESOP advisory, valuations & opinions and financial reporting valuations to support the growth and ownership transition strategies of middle-market companies. Headquartered in Oakbrook Terrace, Illinois, the company is a leading advisor to closely-held companies nationwide. In 2022, Prairie was named ESOP Investment Bank of the Year by M&A Atlas. For more information, visit www.prairiecap.com.
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