Norwest Mezzanine Partners Invests $35.0 Million in Liberty Dialysis
July 26, 2010
Minneapolis, Minnesota – Norwest Mezzanine Partners (NMP), a leading middle market mezzanine investor, today announced that it has contributed $35.0 million in subordinated debt and equity to support KRG Capital Partners’ investment in Liberty Dialysis, Inc. (“Liberty Dialysis” or the “Company”), one of the largest private dialysis companies in the U.S., operating more than 100 dialysis clinics.
Through the collaboration of caregivers and patients, Liberty Dialysis develops, owns and operates clinics focused on end-stage renal disease (ESRD) patients. With clinics located primarily in underserved communities, the Company offers a unique approach to its mission of providing optimal healthcare in conjunction with local physicians and nephrologists, non-profit organizations and area hospitals. Liberty Dialysis is headquartered in Mercer Island, Washington.
“This investment marks the third time NMP has partnered with the KRG Capital team, and we are very excited to have this opportunity. Liberty is an extremely well-run company with tremendous momentum, and we look forward to supporting the Company’s continued growth,” stated Carter Balfour, NMP Partner.
“KRG was very pleased to have NMP invest in Liberty. NMP continues to be a strong partner for our firm, and their participation and support was valued throughout the process,” said Mark King, KRG Capital Co-Founder and Managing Director.
Founded in 2002, Liberty Dialysis today employs more than 1,800 team members and provides care to nearly 5,000 ESRD patients. Learn more about Liberty Dialysis by visiting www.libertydialysis.com.
About KRG Capital Partners
Founded in 1996, KRG is a Denver-based private equity firm with over $4 billion of capital either deployed or available for future investment, which includes approximately $802 million deployed since inception on behalf of equity co-investors. KRG specializes in acquiring and recapitalizing unique and profitable middle-market companies. The firm seeks investment opportunities for its partners where KRG can work in concert with owners and operating managers who are committed to expanding their companies and becoming industry leaders. The result is a partnership that focuses on creating a significantly larger enterprise through a combination of internal growth and complementary add-on acquisitions. Since inception, KRG has invested in 37 platform companies and has completed 107 add-on acquisitions for those platforms. More information on KRG is available at www.krgcapital.com.