Jan 5, 2012
Management Team, Private-Equity Firm Buy Out IT Consultancy (Modern Healthcare)
By Ashok Selvam. Cumberland Consulting Group, Nashville, has been acquired by a group headed by members of the firm’s management team and Tailwind Capital.
Financial terms of the deal weren’t disclosed.
Cumberland provides a variety of health information technology consulting services, including planning and assessment and work-flow management.
Father-and-son healthcare investors R. Clayton McWhorter and Stuart McWhorter also invested in the deal. The older McWhorter is the former chairman of the board of HCA/Columbia.
"This transaction represents a tremendous opportunity for Tailwind to invest in a proven platform that provides high-quality services to a dynamic industry in the midst of an IT transformation," Tailwind managing director Geoffrey Raker said in an e-mailed news release. "Cumberland has a very experienced management team and is well-positioned for future growth and expansion. We look forward to supporting Cumberland as it pursues future organic initiatives and acquisitions."
Financing for the deal was provided by Deerpath Capital and Pinnacle Financial Partners; CHILDS Advisory Partners counseled Cumberland.
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