Accanto Health Appoints Dr. Tom Britton as Chief Executive Officer
ST. PAUL, Minn., Jan. 08, 2024 (GLOBE NEWSWIRE) -- Accanto Health, a national leader in eating disorder specialty care and behavioral health services, announced the appointment of veteran behavioral health executive Dr. Tom Britton as CEO this week. Accanto Health encompasses renowned brands: The Emily Program, Veritas Collaborative, and Gather Behavioral Health.
"As the awareness of eating disorders and the need for quality, compassionate care continues to grow, it's vital to have our next leader be someone who understands multi-site behavioral health care services and appreciates the unique needs of clients, families, and staff," said Dirk Miller, Executive Chair of Accanto Health and Founder of The Emily Program. "Tom's passion for behavioral health and his commitment to excellence in care and walking beside those we serve make him the right fit to lead us forward."
Britton expressed his excitement about joining Accanto Health, stating, “It is an incredible honor and privilege to join Accanto Health in the role of CEO. The merger of The Emily Program and Veritas Collaborative as well as the launch of Gather Behavioral Health has provided individuals in this country living with eating disorders comprehensive access to care and the tools necessary to enjoy a life of recovery.”
With over 30 years in the behavioral health field, Britton’s extensive clinical and leadership history aligns with Accanto Health’s longstanding commitment to delivering compassionate, evidence-based clinical and business processes, contributing to a high standard of care and positive client experience across its expanding program offerings. Previously, Britton served as CEO of American Addiction Centers and as President and CEO of Gateway Foundation. His introduction to eating disorders occurred earlier in his career when he held operational leadership positions in the eating disorders division of CRC Health, now part of Acadia Healthcare.
On a personal level, he feels passionate about behavioral health in part due to his own experience with addiction and recovery. “I believe all people hold the innate potential to improve their life and the lives of those around them,” said Britton. “I will work tirelessly with the Accanto Team to grow and expand our vision of helping all in need. We are uniquely positioned to meet the evolving needs of those we serve.”
About Accanto Health
Accanto Health, based in St. Paul, Minnesota, is a national healthcare company specializing in eating disorders and related disorders. The company includes leading eating disorder treatment brands: The Emily Program and Veritas Collaborative, and a new outpatient group practice, Gather Behavioral Health. Recognizing that one size does not fit all, Accanto Health programs provide exceptional, individualized care for children, adolescents, and adults with eating disorders and other behavioral health conditions in a gender-diverse and inclusive environment. Services incorporate an array of individual, group, and family therapy, nutrition, psychiatry, medical care, yoga, education, and support services. The company offers services across a full continuum of care, including inpatient, residential, partial hospitalization, intensive outpatient, and outpatient. If you or someone you know is struggling, call 888-364-5977 or visit accanto.com.
Vestar Capital Partners Completes Sale of Edward Don & Company to Sysco
NEW YORK, Dec. 4, 2023 /PRNewswire/ -- Vestar Capital Partners ("Vestar"), a leading U.S. middle-market private equity firm, announced that it has completed the sale of Edward Don & Co. ("DON" or "the Company"), a leading distributor of foodservice equipment and supplies, to Sysco Corporation. Terms of the transaction were not disclosed.
"It's been a privilege to support Steve Don and DON management to help them achieve their growth objectives," said Rob Rosner, Founding Partner at Vestar. "When we originally invested in the business, we believed we were backing one of the strongest management teams and one of the highest-quality platforms in the foodservice equipment & supplies distribution space. That thesis has proven out many times over the years, and this successful outcome is yet another proof point."
"We're incredibly proud of what DON was able to accomplish during our partnership," added Nikhil Bhat, Co-Head of Investments at Vestar. "The Company continued its long track record of successful organic growth and established itself as a premier platform in its industry, all while navigating a disruptive global pandemic. We're grateful to the DON team for their leadership and hard work over our nearly 7-year partnership together in delivering this terrific outcome."
Over the course of Vestar's investment, DON expanded its footprint, secured significant new customers, and meaningfully grew revenue and earnings. DON will operate as a standalone specialty division within Sysco, and DON CEO and President Steve Don will continue to manage the business alongside DON's leadership team.
"Vestar was a great partner to DON during a period of both unprecedented growth, but also unprecedented pandemic-related challenges, for our Company," said Mr. Don. "We appreciate Vestar's support of our customer-focused, service-oriented, integrated growth strategy over the past years, and look forward to continuing to deliver for all DON stakeholders in our exciting next chapter with Sysco."
J.P. Morgan Securities LLC and William Blair served as joint lead financial advisors to Edward Don & Company and Vestar. Kirkland & Ellis LLP served as legal advisor to Edward Don & Company and Vestar.
Nox Health Appoints Emily Buxton Taylor as Chief Financial & Operating Officer
ALPHARETTA, Ga. (November 14, 2023) – Nox Health, a global sleep health leader in sleep diagnostics and value-based sleep care management, today announced that it has named Emily Buxton Taylor as Chief Financial & Operating Officer.
In this role, Emily will assume direct responsibility for finance across Nox Health and additionally support operations that bridge Nox Health business units. With deep operational and financial expertise, Emily has more than 20 years of experience in healthcare and technology in both the public and private sectors.
“With a unique combination of financial acumen and solid operational expertise, Emily will drive performance across the company and help systematically execute and drive success of our strategies company-wide,” said Sigurjon (SK) Kristjansson, CEO of Nox Health. “Emily is a welcome addition to the Nox team as we scale and grow our company to support our range of clients, from health plan sponsors to global sleep healthcare providers.”
“I am delighted to join Nox Health and have been impressed with the team’s passion forsleep,” said Emily Buxton Taylor, Chief Financial and Operating Officer, Nox Health. “Given thestrong connection between sleep and chronic disease, I look forward to working to advanceone of Nox Health’s primary goals – to make sleep a foundational component of every benefitplan so that members and employees can improve their health.”
Arnar Thorkelsson, previous CFO of Nox Health, will now focus on supporting Nox Medical,the company’s medical technology division.
Kristjansson continued: “Arnar has been an incredible partner in developing the company to this stage, and we have grown to a point where each business unit requires a full-time executive to support our business. With Emily as our global leader, located in the US, and Arnar present in Iceland, we have a dynamic, experienced team that will help take Nox to the next level.”
Emily most recently served as Chief Operating Officer and Chief Financial Officer of Wondr Health, a company that offers complete weight and stress management programs. Previously, Emily held numerous financial positions, including Chief Financial Officer at Paradigm Tax and National HME, Chief Accounting Officer at Northstar Anesthesia, and Chief Financial Officer at Orthofix Medical, Inc. She is a certified public accountant and an active member of Financial Executives International (FEI).
Vestar Capital Partners Named to Inc.'s 2023 List of Founder-Friendly Investors
NEW YORK, Nov. 2, 2023 /PRNewswire/ — Vestar Capital Partners, a leading U.S. private equity firm, today announced that it has been named to Inc.'s 2023 Founder-Friendly Investors list honoring the private equity, venture capital, and debt firms with the best track records of successfully backing entrepreneurs.
The list recognizes firms with which entrepreneurs can collaborate while gaining the financial and strategic support they need to help accelerate growth. The firms on the Inc. list have successful track records of remaining actively involved with the businesses in which they invest.
Vestar has invested over $3 billion in more than 27 founder- and family-owned companies since its inception in 1988, and its current portfolio consists of 12 founder-led businesses across Consumer, Business & Technology Services and Healthcare.
"We are proud of our 35+ year track record of partnering with founders, continuing their family legacy, and sharing a commitment to their values," said Dan O'Connell, Founder and CEO of Vestar. "We appreciate Inc.'s recognition, and we are grateful for the opportunity to offer our operational expertise, long-term perspectives, and passion for building better businesses to our founder partners."
"Now more than ever, founder-led companies need financing partners that offer guidance, expertise, and understanding—not just capital. These are the private equity, venture capital, and debt firms that have founders' backs when it comes to accelerating growth," says Scott Omelianuk, editor-in-chief of Inc. Business Media.
Inc. compiled its list by surveying founders who have worked with private equity, venture capital, and debt firms about their experiences partnering with the firms and examining data on how portfolio companies have grown during these partnerships.
To see this year's complete list, go to: https://www.inc.com/founder-friendly-investors/2023
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services and Healthcare. Since inception in 1988, Vestar funds have invested $11 billion in 92 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.
Nox Health Expands Board of Directors
ALPHARETTA, Ga., Nov. 01, 2023 (GLOBE NEWSWIRE) — Nox Health, a global sleep health leader in sleep diagnostics and value-based sleep care management, today announced the appointment of three new board members: Lloyd Dean, Chief Executive Emeritus, CommonSpirit Health; David Schlanger, Executive Chairman, Progyny; Dr. Bill Lewis, Telehealth Consultant to Fortune 500 companies.
“Sleep is the missing gap in care central to all chronic conditions,” said Sigurjon Kristjanson, CEO Nox Health. “Lloyd, David and Bill each provide the company with relevant, current and direct experience working with the plan sponsors, payers, providers and health systems who can benefit from filling that gap in care through our portfolio of value-based sleep care management solutions.”
David Schlanger is the Executive Chairman, Progyny, a leading fertility benefits management company. He previously served as the company’s CEO, where he led the company to reach key milestones, including achieving five consecutive years of industry leading clinical outcomes and becoming the first fertility and family building company to go public. Prior to Progyny, he served as the CEO of WebMD, the health information resource.
“Nox Health is differentiated in the market because it reframes sleep as a critical intervention strategy that curbs the progression of multiple chronic diseases, with a dramatic impact on plan costs and outcomes,” said David Schlanger, Executive Chairman, Progyny. “I’m delighted to be working with the Nox team to guide the commercialization strategy as we align the interests of members, plan sponsor, and providers to ensure successful outcomes.”
Lloyd Dean, Chief Executive Emeritus, CommonSpirit Health, is a nationally recognized leader within healthcare. During his time as CEO of CommonSpirit Health, he was responsible for the organization’s overall management, governance, strategy and direction. He led CommonSpirit Health and Dignity Health through significant strategic, operational, and financial transformations to its current status as a leading health care organization recognized for high quality, compassionate care, operational excellence and successful financial results.
“Given my experience in the health system space across large patient populations, I understand how sleep deprivation impacts virtually every chronic condition, like diabetes, hypertension and obesity,” said Lloyd Dean, Chief Executive Emeritus, CommonSpirit Health. “I look forward to working with the Nox Health Board of Directors as the company integrates its science-backed, behavioral interventions into traditional care models to help overcome sleep care treatment barriers, drive higher rates of adoption and reduce costs.”
Dr. Bill Lewis currently serves as Senior Consultant, through WellMedcare, on telemedicine for Fortune 500 companies and Care Delivery Organizations like Humana. He is currently engaged on Advisory Boards for several telemedicine companies such as GlobalMed, SmartMeter and Teledentist, and is on the Board of Quest Analytics. Previously, he was the Chair of the ATA/CHQI Accreditation Committee for Telemedicine currently known as the URAC Telemedicine Accreditation Program. He served as SVP for Concentra overseeing 140 clinics and 200 plus Clinic worksites and physicians for 20 years.
Dr. Bill Lewis commented: “I am proud to join the Board of Directors of Nox Health, a purpose-driven company that is focused on enabling access and improving outcomes, issues that I have dedicated my career to addressing.”
About Nox Health
Nox Health is a global leader in sleep diagnostics and value-based care on a mission to improve the health of people with chronic conditions. Our diagnostic devices are used more than two million times annually in more than 50 countries, and our value-based, outcomes-focused sleep care management program now covers more than a million employees. Headquartered in Atlanta, Georgia, and with operations in Reykjavík, Iceland and Denver, Colorado, Nox Health’s delivery of sleep care is unmatched with accurate sleep diagnostics, comprehensive, value-based sleep care management and rigorous outcomes measurement. For more information on Nox Health, please visit www.noxhealth.com.
Titan Frozen Fruit Strengthens Team with the Additions of Alan Cutler as Chief Financial Officer and Tom Byrne as Executive Vice President of Commercial Development
Longtime Industry Executives to Support Titan's Sustainable Growth and M&A Initiatives
SANTA MARIA, Calif., Oct. 23, 2023 /PRNewswire/ — Titan Frozen Fruit ("Titan" or "the Company"), a market-leading, value-added food ingredient manufacturer and fruit processor, announced today two new additions to strengthen the Company's senior leadership team. Alan Cutler has been named Chief Financial Officer and Tom Byrne has been named Executive Vice President of Commercial Development. Titan is a portfolio company of Vestar Capital Partners and Windhover Capital.
"Given Alan's and Tom's successful track records, we are confident they will play a key role in Titan's transformation," said Jon Larsen, CEO of Titan. "Alan's leadership in developing financial strategies to drive sustainable growth, as well as his focus on enhancing Titan's finance function and processes, will be critical as we build out the organization. Additionally, Tom's strong sales and business development background and his M&A experience will be an asset for Titan as we look for new opportunities to grow the business both organically and through strategic acquisitions. I welcome them both to the Company."
Mr. Cutler has spent over 25 years building and leading teams in the food, agriculture and manufacturing industries, most recently as CFO of Randall Foods. Some of his previous C-level roles include serving as CFO at Vita-Pakt Citrus Products Co., CEO and COO at True Fresh High Pressure Processing/True Food Innovations, and CFO/President/GM at Goglanian Bakeries Inc. (now Rich Products Corporation, Inc.). Mr. Cutler earned both his bachelor of science and masters of business administration degrees from Troy University.
"I'm eager to work with the Titan team to leverage what I've learned over my long career in food processing to help position the Company for its next stage of growth," said Mr. Cutler. "I look forward to working closely with Jon, Tom and the rest of the Titan management team as we look to take advantage of opportunities in the market."
With more than 25 years of experience leading transformational changes in complex business environments, Mr. Byrne was most recently Senior Vice President – Division Manager at Golden West Packaging Group, where he led the integration of three agricultural-centric packaging businesses. Previously, he served as President of Growers Express, and was also Vice President – General Manager at Sambrailo Packaging, and Director of Food Sales at Peninsula Packaging. He holds a bachelor's degree in business management from the University of Notre Dame.
In this newly created Executive Vice President of Commercial Development position, Mr. Byrne will lead business and product development and operational efficiencies across Titan, and will also serve as a critical member of the Company's Corporate Development/M&A team.
"I'm thrilled to be joining Titan at an exciting stage of its development," said Mr. Byrne. "With its strong industry reputation and the resources and support from Vestar Capital and Windhover Capital, Titan is well positioned to become a true leader in a fragmented market. I am eager to drive new innovations and help grow the Company."
About Titan Frozen Fruit
Based in Santa Maria, CA and founded in 2013, Titan is a market leading, value-added food ingredient manufacturer and fruit processor. The Company buys berries from a network of large commercial growers in California and Baja California and processes the berries into a variety of pack styles (aseptic and pasteurized purées, purée concentrate, thermal particulate, individual quick frozen and block quick frozen). Titan sells the processed berries to a diversified roster of food and beverage manufacturers, foodservice/QSRs and retail/club stores. For more information on Titan, please visit www.titanfrozen.com.
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services and Healthcare. Since inception in 1988, Vestar funds have invested over $11 billion in 92 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $52 billion. For more information on Vestar, please visit www.vestarcapital.com.
About Windhover Capital
Windhover Capital is a food, beverage, pet and consumer focused private equity firm based in Seattle, Milwaukee and New York. Windhover's strategy is to partner with management teams and owners to build strategic value, improve profitability and accelerate growth. For more information on Windhover, please visit www.windhovercap.com.
Edward Don & Company Announces Sale to Sysco
WOODRIDGE, IL – October 11, 2023 – Edward Don & Company (“DON”), a leading distributor of foodservice equipment and supplies since 1921, announced today that it has entered into an agreement to be acquired by Sysco Corporation. This partnership will allow DON to enhance its product offerings, expand strategic capabilities and provide even greater value to our customers while creating new and exciting
opportunities for our associates.
Upon completion of the transaction, DON will operate as a standalone specialty division within Sysco. Steve Don will continue to manage the business along with DON’s leadership team. All DON’s current employees will continue business as usual across North America, providing customers with the great level of service and products that they have come to expect from DON.
“Since 1921, DON has put customers first, delivering everything but the food,” said Steve Don, CEO & President. “In Sysco, we found a partner who not only understands our business but also has a deep appreciation for the customers, employees, and culture that have made us who we are today. Customers can expect the same high level of foodservice expertise, customer service, innovation and a deeper product selection from DON as we move forward as a specialty division within Sysco.” The acquisition is subject to regulatory approval and other customary closing conditions. J.P. Morgan Securities LLC and William Blair served as joint lead financial advisors to Edward Don & Company and Vestar Capital Partners.
About Edward Don & Company
Owned and operated by the Don family since 1921 and partnered with Vestar Capital Partners since 2017, Edward Don & Company is a leading distributor of foodservice equipment and supplies. Headquartered in Woodridge, IL, the company is the chosen supplier to all types of foodservice businesses including independent restaurants, national chains, health care, hospitality, country clubs, schools and universities, government institutions and foodservice management. DON, with approximately 1,200 employees, operates a nationwide distribution network supported by seven full-service distribution centers – in Chicago, Philadelphia, Atlanta, Miami, Dallas, Los Angeles and Seattle – and operates its own transportation fleet. DON serves national and multi-unit account programs with flexible, customized solutions that meet the needs of both the corporate office and the individual units. DON’s Foodservice Equipment Division offers full-service kitchen design, equipment purchasing and installation. For more information, please visit www.don.com.
Tech24 Partners with Big Fish
GREENVILLE, SC, October 5, 2023—Tech24, a national industry leader in commercial foodservice equipment repair and maintenance, has partnered with Big Fish, a provider of commercial HVAC, refrigeration and kitchen equipment installation and repair service throughout Texas.
Based in Buda, Texas, Big Fish specializes in the installation, repair, maintenance and replacement of HVAC, refrigeration, and hot side kitchen equipment for restaurants, hotels, hospitals, and other commercial facilities located across Austin, San Antonio, Houston, and the surrounding areas of Texas.
“Texas is among the largest markets for our services and is a strategic priority for Tech24. Big Fish has grown significantly in recent years and their culture and values are strongly aligned with those of Tech24. We are excited to welcome Daryl Mika and his team to the Tech24 family,” said Tech24’s CEO, Dan Rodstrom. Daryl Mika, President of Big Fish added, “Partnering with Tech24 will provide Big Fish even greater access to the resources we need to continue delivering high quality service to all our customers. We look forward to working with Tech24’s other Texas-based companies to offer the best technical training in the industry.”
Tech24 Announces Joint Investment from Vestar Capital Partners and HCI Equity Partners
GREENVILLE, S.C., Oct. 5, 2023 /PRNewswire/ -- Tech24 (or "the Company"), a national leader in commercial foodservice equipment repair and maintenance, announced today that Vestar Capital Partners ("Vestar") has joined as a new investor alongside existing shareholders HCI Equity Partners ("HCI") and the Company's management team.
The new investment will support Tech24's continued organic and acquisitive growth in new and existing geographies and end markets. Founded in 1982 and headquartered in Greenville, SC, Tech24 provides comprehensive repair and preventive maintenance solutions for commercial refrigeration, cooking, beverage, and HVAC equipment. Tech24 currently services over 50 major markets in 26 states, and its diverse customer base includes restaurants, grocery and convenience stores, retailers, schools and universities, and corporate and government facilities. The Company has completed 19 acquisitions since 2020.
"Vestar's deep experience in both commercial facilities services and the foodservice end market, as well as its track record in partnership-oriented sponsor recapitalizations, positions the firm as a perfect partner for Tech24 as we look to find new ways to accelerate growth," said Dan Rodstrom, CEO of Tech24. "We are pleased to welcome Vestar and are eager to work alongside their team and our existing investor HCI as we focus on our active acquisition pipeline."
"Tech24 has an impressive national footprint and a proven track record of delivering high-quality, mission-critical services to its customers," said Nikhil Bhat and Jake Olson, Managing Directors at Vestar. "We are excited to partner with management and HCI to leverage our sector expertise and 35 years of investing experience to enable the Company to capitalize on its numerous attractive growth opportunities."
"We are proud of the transformational growth and the foundation the Tech24 team has built over the last three years," said Doug McCormick, Managing Partner at HCI Equity Partners. "We believe Tech24 has differentiated itself both as a service provider and an acquirer in the highly fragmented commercial food equipment repair market and we are excited for the next phase of growth with the Vestar team."
Solomon Partners served as financial advisor and Quarles & Brady LLP served as the legal advisor to Tech24 and HCI. TD Cowen acted as financial advisor, and Kirkland & Ellis LLP acted as legal advisor to Vestar.
About Tech24
Tech24 is the industry leader in commercial foodservice equipment repair and maintenance, providing quick and comprehensive repair and preventive maintenance solutions for commercial refrigeration, cooking, beverage, and HVAC equipment. Founded in 1982 in Greenville, SC, Tech24 currently services over 50 major markets in 26 states from coast to coast and employs over 850 highly qualified service technicians that are equipped with the tools, technology and training they need to get the job done right. To learn more about Tech24, visit https://www.mytech24.com/.
About HCI
HCI Equity Partners is a lower market private equity firm focused on partnering with family and founder-owned distribution, manufacturing and service companies. HCI is headquartered in Washington, DC. For more information, please visit www.hciequity.com.
Vestar Capital-backed Roland Foods Acquires ifiGOURMET, a Provider of High-quality Products for the Bakery and Pastry Industries
NEW YORK, Aug. 21, 2023 /PRNewswire/ — Roland Foods, LLC ("Roland Foods"), a purveyor of fine global ingredients for over 85 years and a portfolio company of Vestar Capital Partners, announced today that it has acquired ifiGOURMET, a leading importer and master distributor of high-quality products for professional use in the bakery, pastry, confectionery, and ice cream industries. Terms of the transaction were not disclosed.
ifiGOURMET will be combined with AUI Fine Foods, Roland Foods' sweet division, and ifiGOURMET's owner and CEO Rick Brownstein will remain with the company going forward.
"This strategic acquisition will strengthen AUI Fine Foods' footprint in the key Chicago and San Francisco markets and expands our sweet product offering, which will allow us to better serve existing and new customers nationwide," said Keith Dougherty, CEO of Roland Foods. "We believe tremendous opportunities exist in the gourmet food and ingredients market today, and the addition of the ifiGOURMET team will better position Roland Foods for growth."
An importer of gourmet dessert products and ingredients from around the world, ifiGOURMET serves more than 1,500 in-store bakery, restaurant chain and foodservice customers nationwide. It operates two distribution centers in Chicago, IL, and San Francisco, CA.
"We are proud to support Roland Foods' expansion with the acquisition of ifiGOURMET, and we look forward to continuing our partnership with Keith and the entire Roland Foods and AUI Fine Foods team as they continue to identify new strategic acquisition opportunities," said Ken O'Keefe, Vestar Managing Director and Chief Operating Officer, and Member of the Board of Roland Foods.
"Joining AUI Fine Foods and the Roland Foods' family will provide ifiGOURMET with the resources and relationships needed to take our organization to the next level," said Mr. Brownstein. "Roland Foods and AUI share our culture and strong commitment to customer service and deeply understand our business, and we're excited about the future."
About Roland Foods
Since 1934, Roland Foods has been a purveyor of premium, high-quality global ingredients. With a curated portfolio of over 2,400 products carefully sourced worldwide, the brand is a trusted resource relied upon by chefs and home cooks. An established brand in the Fine Foods category, Roland Foods aims to inspire culinary curiosity and creativity in the kitchen. To learn more about Roland Foods, please visit https://rolandfoods.com/