GTCR Announces Completion of Recapitalization of NewQuest, LLC
Chicago, Illinois - March 7, 2005 -- GTCR Golder Rauner, LLC (GTCR), one of the nation's leading private equity firms, has closed the previously announced recapitalization of NewQuest, LLC (NewQuest) following regulatory approval. In connection with the recapitalization, GTCR made an investment of $134 million in NewQuest.
Brentwood Capital Advisors LLC acted as exclusive financial advisor to NewQuest in connection with this transaction.
About NewQuest, LLC
NewQuest is a leading managed care organization that operates commercial and Medicare Advantage health plans through comprehensive provider networks in four states. Founded by insurance industry veteran Herbert Fritch, NewQuest has grown its Medicare and commercial membership to over 100,000 lives in less than four years. Over the next year, NewQuest plans to expand its presence significantly in its existing states of Texas, Tennessee, Alabama and Illinois. For more information, visit www.myhealthspring.com.
About GTCR Golder Rauner, LLC
Founded in 1980, GTCR Golder Rauner, LLC is a leading private equity investment firm and long-term strategic partner for outstanding management teams. The Chicago-based firm pioneered the investment strategy of identifying and partnering with exceptional executives to build leading companies through a combination of acquisitions and internal growth. GTCR currently manages more than $6 billion of equity capital invested in a wide range of companies and industries. For more information, visit www.gtcr.com.
About Brentwood Capital Advisors LLC
Brentwood Capital Advisors LLC, founded in 1999, is a privately held investment bank headquartered in Brentwood, Tennessee, providing mergers and acquisition and capital raising advice to middle market healthcare and business services companies. More information about Brentwood Capital Advisors can be found at www.brentwoodcapital.com.
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