Passport Health Completes $144 Million Financing

Nashville, TN – Brentwood Capital Advisors LLC, based in Nashville, recently acted as the exclusive financial advisor to Passport Health Communications, Inc. arranging $144 million in debt financing. Goldman Sachs Specialty Lending Group, LP provided the financing. This financing restructured Passport’s existing debt, funded multiple acquisitions and provides additional funding capacity for future acquisitions.

“This financing validates the lenders views of the strength of our company and the services provided to our clients,” stated Jim Lackey, Passport chairman and CEO. “In addition, this transaction provides capital to fund our aggressive plans for continued organic growth and selective acquisitions.”

“Passport is a rapidly growing leader in healthcare revenue cycle services,” stated Tom Wylly, Senior Partner of Brentwood Capital Advisors. “We are delighted to continue to work with Passport as its exclusive financial advisor and be associated with such a high quality company and management team. We look forward to helping the company achieve its goals of continued growth and industry leadership for the short and long term.”

About Passport Health Communications

Passport Health Communications, Inc. is a healthcare technology provider with corporate offices in Franklin, Tennessee, and King of Prussia, Pennsylvania. Passport’s products and services are used in more than 1,500 hospitals and 2,800 physician’s clinics and outpatient centers in all 50 states. The company delivers a range of administrative, clinical and financial tools via real-time, batch and integrated technology to improve the efficiency and accuracy of the revenue cycle process. For more information, visit www.passporthealth.com.

About Brentwood Capital Advisors LLC

Brentwood Capital Advisors LLC (BCA), founded in 1999, is a privately held investment bank headquartered in Nashville, Tennessee, providing mergers and acquisition and capital-raising advisory services to middle-market healthcare and business services companies. Since 2002, BCA has completed 31 financial advisory transactions as exclusive financial advisor with healthcare services transactions representing 25 of its 31 assignments.


Smith Travel Research Acquires Deloitte’s HotelBenchmark

Hendersonville, TN – Smith Travel Research (“STR”), the leading provider of lodging industry data, recently announced the completion of its simultaneous acquisition of HotelBenchmark, a division of Deloitte, and The Bench. Brentwood Capital Advisors LLC acted as STR’s exclusive financial advisor in the transaction.

Deloitte’s HotelBenchmark and The Bench, both based in London, are providers of lodging industry data for the European market. STR’s acquisition of these entities will allow STR to expand its industry-leading research capabilities worldwide, with a specific emphasis on the European and Asian markets. STR’s new entity will operate as STR Global.

“With these acquisitions, we can continue to expand our relationships with our existing clients who are emphasizing international growth, as well as cultivate new relationships with non-North American entities,” stated Randy Smith, CEO of Smith Travel Research. “The catalysts for this transaction were our major clients who expressed a need for our reporting services on a global basis to support their growth efforts.”

“STR is the preeminent provider of lodging data and research to all constituents of the industry including hotel chains, real estate investors, consultants, and appraisers,” stated Jack Harrington of Brentwood Capital Advisors, “and we’re pleased to have served as STR’s exclusive financial advisor in this important transaction. STR is executing an aggressive growth plan, and we look forward to assisting the company in leveraging its dominant position in the industry.”

About Smith Travel Research

For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. STR and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. With the formation of STR Global, the company will be the world’s foremost source of historical lodging performance trends and will offer the definitive global hotel database and development pipeline. STR is headquartered in Hendersonville, Tennessee, and STR Global is based in London, with a satellite office in Singapore. More information about STR can be found at http://www.smithtravelresearch.com or http://www.strglobal.com.

About Brentwood Capital Advisors LLC

Brentwood Capital Advisors LLC (BCA), founded in 1999, is a privately held investment bank headquartered in Nashville, Tennessee, providing mergers and acquisition and capital-raising advisory services to middle-market healthcare and business services companies. Since 2002, BCA has completed 32 financial advisory transactions as exclusive financial advisor.