Middle Market Digest: Morningside, Waud Capital and More
Hello and welcome to Middle Market Digest, a compilation of news and notes on deals worth $500 million or less from private equity, growth equity and venture capital practitioners.
This week’s edition covers deals from Feb. 13 to Feb. 20. Below the lead item, deals are listed in alphabetical order by target name.
- Agriculture production software maker SemiosBio Technologies Inc. said on Tuesday, Feb. 18, it raised $75 million in private equity funding led by Boston-based Morningside Group. The deal brings the total funding for Vancouver, British Columbia-based Semios to $115 million since the firm was founded in 2010. Semios compiles real-time, acre-by-acre sensory data on orchards to improve sustainability and profitability of harvest. Mick Sawka, investment manager at Morningside Group, worked on the deal, along with Michael Gilbert, CEO and founder of Semios. Raymond James & Associates Inc. advised Semios on the deal, with Fort Capital working on financing. Hong Kong-based Morningside Group is currently investing out of its $1 billion Evolution Fund I LP, which closed in 2018. The firm does not disclose investment criteria. Deal Memo
- Waud Capital LLC-backed Ivy Rehab Physical Therapy said on Thursday, Feb. 13, it paid an undisclosed sum for Whiting, N.J.-based All-Care Physical Therapy, which operates in 13 locations in the Garden State. White Plains, N.Y.-based Ivy Rehab Physical Therapy said its footprint now comprises 220 facilities. Jeremy VanDevender, Ivy’s chief development officer, worked on the deal, along with Michael Yorke, president and founder of All-Care Physical Therapy. Chicago-based Waud Capital typically invests between $50 million and $200 million in healthcare services, technology and business services. Deal Memo
Editor’s note: The original version of this article, including advisers and other details, was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.
Middle Market Awards: The Deal released the shortlist for our 2020 Middle Market Awards. Take a look at the list and check if your firm was among those shortlisted, we hope to see everyone at our awards ceremony in April. Don’t forget to reserve your seat.
This Content is Only for The Deal Subscribers
If you’re already a subscriber, log in to view this article here.