Coalesce Capital – a private equity firm focused on investing in business services companies – recently announced that it has teamed with Freedom 3 Capital, an existing Examinetics shareholder, and management to recapitalize Examinetics, a leading provider of occupational health compliance testing services.
Examinetics enables businesses to protect the health and well-being of their employees through its comprehensive suite of occupational health compliance solutions. And the company launched Salux, its internally developed auditory testing technology, in late 2022 to provide remote service delivery and materially expand its client reach.
Coalesce’s investment in Examinetics is expected to empower the company to accelerate its expansion in existing and new markets and introduce new and increasingly innovative technologies and services to meet its clients’ complex regulatory requirements.
The Bank of Montreal provided the financing for the transaction. And legal advisors were Kirkland & Ellis for Coalesce and Morrison Foerster for Examinetics. Stout and Houlihan Lokey provided financial advisory services.
KEY QUOTES:
“We are incredibly energized to be partnering with Coalesce for the next phase of Examinetics’ growth. It is an exciting time for our company as we join up with such a proven private equity team in the business services sector. Their commitment enables Examinetics to accelerate our growth, invest further capital to serve customers, and continue to build national scale.”
— Gary Gluzberg, President
“We back management teams who are building the platforms of tomorrow. Examinetics has an incredibly high-quality business model, driven by megatrends around increasingly complex regulatory and compliance requirements facing businesses. Today, Examinetics reaches more than 3,000 clients in over 18,000 locations annually, and we could not be more excited to partner with this team to deliberately scale this business, further enhancing the range of customers they serve and the value they can deliver to them.”
— Stephanie Geveda, Founding and Managing Partner of Coalesce
“We are excited to partner with Coalesce to scale this business. It has already been a terrific investment for us, and its tailwinds remain robust. The value-creation playbook that Coalesce’s team has defined for business services will continue to drive sustainable, profitable growth for Examinetics.” Brian Block and Stephanie Geveda have known each other for more than two decades, initially started their investing careers together, and previously collaborated on numerous investments.
— Brian Block, a Partner of Freedom 3 Capital who is reinvesting alongside Coalesce in this transaction
“We were highly motivated to personally reinvest equity in the business as part of this recapitalization. In addition to our faith in the business model, our commitment to our clients and their employees, and our mission to improve workplace health and safety, the Coalesce team’s track record of success in business services will provide Examinetics with access to capital and expertise that we expect to be transformative to our business.”
— Paul Fenaroli, CEO of Examinetics
