Chicago private equity firm acquires Advanced Pain Management; Clifton Gunderson to acquire Los Angeles accounting firm; Lakeside International acquires Madison dealership; Madison wealth management and trust companies to merge
Chicago private equity firm acquires Advanced Pain Management
Chicago Growth Partners (CGP), a Chicago-based private equity investment firm, has acquired Advanced Pain Management Holdings Inc. (APM) in Greenfield.
APM is the largest single-specialty, pain management group in the nation in the emerging specialty of interventional pain management (IPM). APM has 26 board-certified/eligible interventional and non interventional pain physicians performing advanced IPM procedures available to patients suffering from chronic neck and back pain.
APM’s physicians operate out of more than 35 locations in Wisconsin and Minnesota and execute over 140,000 patient encounters annually.
Vishal Lal, APM’s chief executive officer, said, "We are extremely proud of the reputation that we have built at APM and the quality of care we provide to our patients. CGP has significant experience working with growth oriented healthcare companies and we look forward to partnering with the CGP team to expand the reach of APM’s services into new markets.”
Dr. Arda Minocherhomjee, CGP managing partner, said, “A key principle of CGP’s healthcare investment strategy is backing companies that use their business model to improve the way medicine is practiced on behalf of all stakeholders – patients, physicians, and payors. APM’s business model meets those criteria and operates in a large and growing market where it is led by an outstanding management team. We look forward to partnering with the APM team to accelerate the Company’s growth and geographic footprint.”
Clifton Gunderson to acquire Los Angeles accounting firm
Milwaukee-based Clifton Gunderson, one of the nation’s largest certified public accounting and consulting firms, has acquired Durkin Forensic Inc., a Los Angeles a forensic accounting firm focusing on fraud and fraud-related issues.
The acquisition is effective Jan. 1, 2011.
“Durkin Forensic is a nationally-recognized firm and its experts have earned a solid reputation for providing quality work and expertise within the forensic accounting and fraud investigation arenas. We look forward to combining these talents with our national Valuation and Forensic resources and expertise to further expand our capabilities in this practice area,” said Kris McMasters, chief executive officer of Clifton Gunderson.
Ronald Durkin will join Clifton Gunderson as partner and its national practice leader of fraud and misconduct investigations. Durkin has more than 35 years of forensic investigation and bankruptcy experience, including more than 10 years as a special agent with the FBI.
In addition, all Durkin Forensic professionals will join Clifton Gunderson.
“We are excited about the tremendous network of resources offered by Clifton Gunderson,” Durkin said. “With Clifton Gunderson’s strong national presence and its valuation and forensic expertise across the country, joining our two firms provides us the opportunity to enhance the value we provide to our clients and referral sources.”
The transaction is the sixth merger and acquisition announcement for Clifton Gunderson since May 2010. Earlier this year, the firm announced it had acquired St. Louis, Mo.-based Humes & Barrington, Philadelphia, Penn.-based Stockton Bates, Evanston, Ill.-based U.S. Tax Advantage, the former BKD office in Merrillville, Ind., and most recently, Farrell & Associates in Rockford, Ill. Combined, the six mergers and acquisitions account for 136 new employees and six new geographic locations for Clifton Gunderson.
Lakeside International acquires Madison dealership
Milwaukee-based Lakeside International Trucks has acquired Capital City International in Madison.
With the acquisition, Lakeside International expands its footprint with its third acquisition in the past five years.
Lakeside will continue to operate the Madison dealership under the Capital City name. All of the 40 Capital City employees will remain with the dealership.
Lakeside is currently working to fill more than 30 positions across all dealership locations, including anticipated needs in the new Rockford and Madison markets. These positions include service technicians, parts, truck and lease sales and management roles.
Founded by Bill Reilley Sr. in 1984, Lakeside International Trucks celebrated its 25th anniversary in 2009. In that time, Lakeside has grown to 7 locations, generating over $100 million in annual revenue with more than 300 employees.
Madison wealth management and trust companies to merge
SVA Wealth Management Inc. and SVA Trust Company LLC, both of Madison, will merge with Wisconsin Capital Management LLC and Plumb Trust Company to form SVA Plumb Financial LLC.
All employees will affected by the merger will be retained, and the combined company of about 430 employees will be based in SVA’s current offices at 1221 John Q. Hammons Drive in Madison.
“The formation of SVA Plumb Financial LLC brings together two organizations that share many common philosophies and values, yet offer several distinct but complementary areas of financial services,” said SVA chief executive officer Jack Cotton. “By leveraging the combined strengths of both organizations, we are building an even more diverse financial services firm. The combined company will have greater scale and scope, further exemplifying SVA’s commitment to our clients. SVA Plumb Financial, LLC will provide clients with products and services designed to meet their financial needs today, tomorrow and beyond as they move through the stages of their lives.”
“We believe our combined company will provide compelling benefits for current and future clients, allowing us to focus a high level of expertise on each aspect of our service offerings,” said Thomas Plumb, president and principal of Wisconsin Capital Management LLC and CEO of Plumb Trust Company. “We look forward to the merger of our two companies with the anticipated completion being February 28, 2011. The actual integration of our companies’ systems, operations, products and services will be completed over the next few months. We want to assure all clients, from both firms, that we will approach every discussion regarding the integration and transition with their best interest in mind.”
SVA is headquartered in Madison and has additional offices in Milwaukee, Appleton and Rockford, Ill.
