Atlanta growth equity firm acquires Houston health care startup
A Houston-based startup specializing in minimally invasive vascular procedures has made an exit.
Fulcrum Equity Partners, based in Atlanta, has announced the acquisition of Texas Endovascular Associates, a specialty physician practice across five locations in the greater Houston area. The terms of the deal were not disclosed.
“We are excited to partner with the Texas Endovascular team to continue growing the impressive platform they have already built,” says Tom Greer of Fulcrum Equity Partners in a news release. “The company has created a differentiated service model and is well positioned to continue its growth in Texas. We look forward to building on this strong presence in the state as well as pursuing strategic acquisitions as we expand its geographical footprint.”
Fulcrum manages over $600 million in assets and provides expansion capital to rapidly growing companies within health care — including IT, B2B software, and more.
The new funding will spur Texas Endovascular's growth into its next phase of business.
“We knew that finding the right equity partner was critical to our long-term growth prospects,” said Sean Mullen, CEO of Texas Endovascular. “After an exhaustive search and after meeting with multiple prospective PE firms, we chose Fulcrum because of their healthcare experience, collaborative approach, and impressive track record. We are excited to enter this new chapter in our company’s life with Fulcrum as our partner."
The two entities collaborated with Founders Advisors LLC, a merger, acquisition, and strategic advisory firm serving middle-market companies.
“Working with the founders of the practice, Drs. Fox and Hardee, as well as the CEO, Sean Mullen, was a pleasure. The entire team at Texas Endovascular acted as a cohesive unit and persevered to find the right partner in Fulcrum," says Michael White, managing director at Founders Advisors. "We are grateful for the opportunity to be a part of this process and we are looking forward to the future of Texas Endovascular in partnership with Fulcrum”.