MedData

About The Company

A leading provider of outsourced database management, marketing program administration, data collection and data analysis services to the agriculture/crop protection, animal health and healthcare industries.

Situation Overview

In February 2006, Carousel Capital directly structured a transaction to buy out a retiring co-founder, enabling the CEO to roll over his entire ownership stake. Carousel partnered with the CEO and AGDATA management to facilitate the company’s acquisition strategy and better leverage the company’s infrastructure and customer base.

Value Creation Initiatives

  • Hired new CFO from former Carousel portfolio company to execute the company’s acquisition strategy
  • Completed three strategic add-on acquisitions for MedData
  • Completed one strategic add-on acquisition for AGDATA
  • Added outside board members with industry expertise to aid strategic initiatives

Outcome

  • Sold MedData to TransUnion in December 2009
  • Sold AGDATA to SFW Capital Partners in February 2010
  • Revenue and EBITDA grew 123% and 169% respectively from 2006 to 2009 (during our investment)
Location: Charlotte, North Carolina
Year of Investment: 2006
Status: Exited 2009 / 2010
CEO: Verl Purdy
Fund: III