Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of Health Technologies, Inc. to Evolution Capital Partners. The acquisition details were not disclosed.
Health Technologies, Inc. (HTI), located in St. Louis, Missouri, is a leading provider of consulting dietitians, menus and food-service software to long-term care communities.
HTI has supported its clients in meeting regulatory requirements and enhancing the dining experience and nutritional care of residents since 1994. HTI's clients include long-term care communities, small acute care hospitals, food service distributors and food service management companies.
Located in Cleveland, Ohio, Evolution Capital Partners (Evolution) is a small-business private equity firm that invests capital nationwide in growing micro-market companies generating at least $500,000 of EBITDA.
Since 2005, Evolution has specialized in helping entrepreneurial businesses transform into professionally run organizations by providing a strong foundation for profitable growth through its Five Fundamentals methodology.
"The team at HTI is excited to work with Evolution Capital Partners and its network to accelerate the growth of the business as we have been envisioning for years," said Carol Sapp, HTI CEO.
"As the U.S. population continues to age and the older adult segments move into various types of care facilities, HTI has tremendous growth potential as we facilitate the provision of nutritious and condition-appropriate food, as well as a more interesting and enjoyable eating experience for all residents."
"Carol Sapp and her team have a strategic plan to grow their business and we are very happy to be a part of that plan. HTI has validated and improved its business model over the past 25-plus years, increasing the health benefits and quality of life for long-term care residents," said Evolution Founding Partner Jeffrey Kadlic.
Generational Equity Executive Managing Director of M&A - Central Region, Michael Goss, and his team, led by Managing Director, Mergers & Acquisitions, Ryan Johnson, successfully closed the transaction. Senior Managing Director Brian Hendershot established the initial relationship with HTI.
"It was very important to Carol Sapp that HTI be acquired by a company best able to appreciate and grow both the consulting and technology sides of the business, as well as leverage the synergy between them," said Johnson.
“Evolution is the perfect partner for HTI, and everyone is excited about the strong growth potential that can now be fully pursued as a result of this acquisition.”
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Food & Beverage M&A Deals page.
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