Houlihan Lokey Advises Sun Capital Partners

Houlihan Lokey is pleased to announce the successful placement of a $285 million senior secured credit facility to support the acquisition of Miami Beach Medical Group (MBMG) by an affiliate of Sun Capital Partners, Inc. (Sun Capital).

Since 1995, Sun Capital has invested in more than 420 companies worldwide with revenues in excess of $50 billion across a broad range of industries and transaction structures. Over the quarter century, the firm has built a reputation as a trusted partner recognized for its investment and operational experience, including particular expertise in the business services, consumer, healthcare, industrial, and technology sectors. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as an affiliate with offices in London.

Founded in 1997 and headquartered in Doral, Florida, MBMG is a leading independent provider of capitated primary care services to Medicare Advantage plan members in South Florida, with a network of 19 medical centers across four counties. The company has contracted relationships with 10 health plans and operates a management services organization with 74 independent physicians serving more than 1,750 Medicare Advantage patients in the area. Florida is the second largest Medicare Advantage market by enrollment in the country, and South Florida accounts for 30% of total enrollees in Florida.

Houlihan Lokey served as the exclusive placement agent to Sun Capital, assisting the sponsor in arranging, structuring, and negotiating the financing. The firm secured a very attractive financing package under an extremely tight timeline. In order to meet the truncated acquisition timeline required by the client, Houlihan Lokey ran an accelerated financing process and secured fully committed, no-outs financing within three weeks of contacting lenders.