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In February 2005, The Halifax Group partnered with Maverick's original founders and co-CEOs, Tom Martin and David Scheven, by acquiring a majority stake through a leveraged recapitalization transaction. Martin and Scheven achieved partial liquidity, while still maintaining their day-to-day operational roles in the business as well as a meaningful ownership stake.
Maverick Healthcare, founded in 1997 and headquartered in Mesa, AZ, is a leading provider of comprehensive home healthcare products and services in the Southwest. Maverick offers a full range of home health services including home respiratory therapy, home infusion therapy, and home medical/custom rehabilitation equipment through a network of 27 branch locations in Arizona, California, Colorado, New Mexico, and Nevada. In addition, the company operates eight sleep diagnostic sites in Arizona and New Mexico.
Throughout the course of the partnership, The Halifax Group assisted the company in formulating multiple strategic objectives. During this time, Maverick launched numerous initiatives that helped propel the company's growth including recruiting key executive talent, building 9 de novo branches, and expanding operations into two new states. With The Halifax Group's guidance, the company also successfully acquired an additional branch in California to further broaden its footprint.
In October 2007, The Halifax Group, Martin, and Scheven successfully exited their investment in Maverick through a sale to a financial sponsor. Executing on our shared strategic plan allowed Martin and Scheven to earn proceeds well in excess of the value that they garnered from the initial Halifax investment. |