- Co-founders worked at KRG, Eos Partners
- Firm inks four deals so far in 2015
- Backs online training firm Career Step
Revelstoke Capital Partners Fund I drew commitments from nine investors and had a date of first sale of Jan. 15, according to a Form D filing with the SEC. No fund size target appears on the filing. King declined to comment in an email.
King, Bachleda and Meyer are managing partners and co-founders of Revelstoke, while King also holds the title of CEO. Prior to launching Denver-based Revelstoke, Bachleda was a managing director of Eos Partners, a New York-based private equity firm, while Meyer worked as director of fundraising and investor relations at Denver-based KRG. Revelstoke debuted as a firm in September, 2013.
Revelstoke, which takes its name from a ski resort in British Columbia, has been running hard on the acquisition trail in the health care services, transportation and logistics, distribution, energy, building products, business services, financial services, industrial services and medical technology sectors.
On Feb. 4 the firm closed a buyout of Career Step LLC, a Utah-based online career training specialist, for an undisclosed sum. In a prepared statement, King said Revelstoke planned to grow Career Step and “further solidify its position as a leader in the online education and training industry.”
Revelstoke has also invested in Encore Rehabilitation Services, a Michigan-based provider of support services to nursing homes, home health agencies and managed care organizations. Yukon Partners and Norwest Mezzanine Partners supplied subordinated debt financing .
Meanwhile, Revelstoke portfolio company Schryver Medical Sales and Marketing LLC paid an undisclosed sum to buy Quality Mobile X-Ray Services Inc, a Nashville-based provider of mobile diagnostic X?ray , mobile ultrasound and other diagnostic testing services. The add-on deal was completed in late January.
Revelstoke said it wrapped up its investment in Crossroads Holding LLC, a South Carolina-based substance abuse treatment service provider, on Jan 8.
Revelstoke’s managing partners have more than six decades of combined private equity investing experience, including a track record of 29 mid-market platform deals and 75 add-on deals totaling more than $5 billion of total enterprise value, according to the firm’s website.
The firm seeks to invest $10 million to $250 million in equity in companies generating EBITDA of at least $5 million and sporting at least a three-year history of operating profitably.