Grant Avenue recapitalizes life sciences consultancy CREO

08 September 2023 1 min. read
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Grant Avenue, a New York-headquartered private equity firm, has invested in CREO, a Durham, NC-based life sciences and healthcare consulting firm.

The recapitalization deal will enable CREO to accelerate its growth and expand its service offerings, a press release said.

CREO founders Susan Acker-Walsh and Mike Townley will continue to be “significant owners” of the business, Axios reported. Although no financial terms were disclosed, a source told Axios the valuation was consistent with Grant Avenue’s target of investing $25 million to $75 million of equity.

CREO was founded in 2015 and provides strategy, M&A, digital transformation, cybersecurity, IT quality, and regulatory compliance consulting services to life sciences and healthcare organizations. The firm has 60 employees, according to LinkedIn.

Grant Avenue recapitalizes life sciences consultancy CREO

“Susan and Mike have established an incredible platform for helping life sciences and healthcare organizations grow. Grant Avenue is eager to help strengthen CREO’s reach and impact across new geographies, partnerships, service offerings, and M&A,” said Brian Berkin, managing director at Grant Avenue.

Grant Avenue is a lower-middle market private equity firm specializing in the healthcare sector. The firm targets companies with between $5 million and $25 million in Ebitda and focuses on control buyouts, buy-and-builds, corporate carve-outs, joint-control partnership investments, and special situations.

“Grant Avenue’s significant healthcare investment experience, deep industry network, and flexible capital approaches make the firm an ideal partner for us as we continue to build on our successful growth,” said Acker-Walsh.

Clearsight Advisors served as financial advisor to CREO and Crosstree Capital Partners served as financial advisor to Grant Avenue.