VendEngine, Inc. to be Acquired by Tyler Technologies

Brentwood Capital Advisors Served as Exclusive Financial Advisor to VendEngine, Inc.

Brentwood Capital Advisors (“BCA”) is pleased to announce that it served as exclusive financial advisor to VendEngine, Inc. (“VendEngine” or the “Company”), a privately-held cloud-based software provider focused on financial technology for the corrections market, in its recently-announced acquisition by Tyler Technologies, Inc. (NYSE: TYL) (“Tyler”). The transaction is expected to close in Q3 2021.

Headquartered in Nashville, TN, VendEngine provides a comprehensive cloud-based technology platform for correctional facilities in over 300 counties across 32 states. The Company provides essential tools and services for incarcerated people and their families—such as trust accounting, electronic grievances, video platforms and digital messaging services.

“Tyler is the perfect match for VendEngine, sharing our core values of integrity, focus, community, inclusion, growth, and accountability.  Both of us have a deep commitment to clients and our customers and we are looking forward to accelerating our growth and making a positive impact on the corrections market.  It is critical to us that we work together to support incarcerated individuals and give them the tools they need that will create success and work toward our ultimate goal of reducing national recidivism rates,” said Silas Deane, President & CEO of VendEngine, “BCA played a crucial role throughout the entire process and served as a trusted advisor to us, ultimately finding exactly the right partner for our company.”

“VendEngine’s market-leading financial technology solutions combined with its best-in-class team created a highly attractive and differentiated opportunity,” said John Allgood, Director at BCA. “We enjoyed working with Silas and the VendEngine leadership team, and we look forward to seeing the Company further its mission with Tyler, while making a difference in people’s lives.”

About Brentwood Capital Advisors

Headquartered in Franklin, Tennessee, Brentwood Capital Advisors is one of the nation’s leading independent investment banks, specializing in providing financial advice on mergers, acquisitions, corporate divestitures, and capital raising to growth-oriented, middle-market healthcare, technology, and tech-enabled services companies. For more information, visit www.brentwoodcapital.com.

About VendEngine

VendEngine is a cloud-based technology provider focused on financial and communications technology for the corrections market. The Nashville, Tennessee-based company provides a suite of financial and communications applications ranging from deposit solutions for commissary, ordering, and warehouse technology to a host of informational, electronic communications, security, accounting, and financial trust management components for more than 300 correctional facilities across 32 states and the Caribbean. For more information, visit www.VendEngine.com.


GRANT AVENUE CAPITAL ACQUIRES QHR HEALTH

QHR Health Becomes Independent Through Acquisition by Grant Avenue Capital

Brentwood Capital Advisors (“BCA”) is pleased to announce its role in serving as exclusive financial advisor to Grant Avenue Capital, LLC (“Grant Avenue”), a leading healthcare-focused private equity firm, in its recently completed acquisition of QHR Health (or the “Company”). QHR Health will now operate as an independent portfolio company of Grant Avenue and is no longer a subsidiary of Quorum Health Corporation (“QHC”). Brentwood Capital Partners, L.P. II (“BCP II”) co-invested alongside Grant Avenue in the transaction. BCP II is a $42.2 million private equity fund affiliated with BCA.

Headquartered in Brentwood, TN, QHR Health is a leading shared service solutions provider for independent hospitals and health systems nationwide. QHR Health was founded in 1977 by HCA Management, was acquired by Triad Hospitals in 2000, then Community Health Systems in 2007. In 2016, QHR Health spun out of Community Health Systems as a part of QHC, a leading operator of general acute care hospitals and outpatient services in the U.S.

“This is an exciting time for QHR Health, our clients and the markets we serve,” said Dwayne Gunter, President and CEO of QHR Health. “Our partnership with Grant Avenue fuels the ability to accelerate development of our technology-enabled shared-services, expand our human capital capabilities, and provide the solutions our clients require to remain independent, financially strong and well-positioned to serve the evolving healthcare needs of their communities.”

“Strengthening independent community healthcare is foundational to a strong, national healthcare infrastructure. The QHR Health team has demonstrated the ability to meaningfully impact and improve the performance of its clients through its broad solution set. We look forward to investing further in QHR Health, both organically and through acquisitions, to expand its breadth of services” said Buddy Gumina, founder and managing partner at Grant Avenue. “BCA played a critical role in catalyzing this deal and we look forward to working with BCA and BCP II on QHR, and more generally as well, in the future.”

“With its proven healthcare expertise and deep network of industry relationships, Grant Avenue is the ideal partner for QHR Health during this upcoming growth phase,” said Michael Ory, Managing Director at BCA. “It was a pleasure working with Grant Avenue and QHR Health on this transformative transaction, and we are excited to watch the QHR team enhance its shared service offering to independent healthcare organizations.”

About Brentwood Capital Advisors

Headquartered in Franklin, Tennessee, Brentwood Capital Advisors is one of the nation’s leading independent investment banks, specializing in providing financial advice on mergers, acquisitions, corporate divestitures, and capital raising to growth-oriented, middle-market healthcare, technology, and tech-enabled services companies. For more information, visit www.brentwoodcapital.com.

About Grant Avenue Capital LLC

Grant Avenue Capital is a healthcare-focused, middle-market private equity firm targeting investments alongside forward-thinking management teams that seek an experienced and innovative investor with highly flexible capital, both in terms of duration and structure. While a typical investment will involve companies generating approximately $5 million to $25 million of EBITDA, Grant Avenue Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, joint-control partnership investments, and special situations. For more information, visit www.GrantAve.com.

In addition, the Grant Avenue Foundation supports employees and portfolio companies of Grant Avenue Capital that are actively engaged with healthcare-oriented charitable organizations.      

About QHR Health

QHR Health is the industry’s leading health solutions provider serving independent, critical access and rural hospitals and health systems across the U.S. For more than 40 years, QHR Health has collaborated with clients to ensure that people in communities ranging from small rural towns to larger population centers, have local access to quality healthcare services.