Archive for category: Firm Announcements

MIAMI – July 17, 2023 – Cassel Salpeter & Co., an independent investment banking firm that provides advisory services to middle market and emerging growth companies in the United States and worldwide, today announced that it represented Primary Eye Care Center, P.C. (“Primary Eye Care Center”) in its affiliation with ReFocus Management Services, LLC, (“ReFocus”) a portfolio company of Zenyth Partners.

Primary Eye Care Center is a leading New England eye care practice based in Bloomfield, Conn., with three strategically located offices in Bloomfield, Windsor and Avon, whose ophthalmologists specialize in cataract surgery, premium intraocular lenses and the diagnosis and treatment of glaucoma and corneal diseases and conditions. 

ReFocus is an eye care management services organization spanning the Northeast and Mid-Atlantic regions in the United States, which partners with over 80 affiliated ophthalmologists and optometrists across 36 practice locations and one ambulatory surgery center. “We are thrilled to welcome Dr. James Pasternack, Dr. Kevin Dinowitz and the entire team at Primary Eye Care Center to ReFocus,” said ReFocus CEO Jeff Rinkov.  

“The Cassel Salpeter team was very pleased to assist Primary Eye Care Center in securing an ideal partner,” said Cassel Salpeter Chairman and Co-Founder James Cassel. “Given ReFocus’ geographic proximity to Primary Eye Care Center and their breadth of knowledge in the ophthalmology space, the synergistic opportunities were unmatched in this partnership.” 

“The dream team of Cassel Salpeter accommodated our busy schedules as practicing doctors and supported us during the entire process,” said Dr. Dinowitz. “Their experience, compassion and commitment led us to reach our goals for success.” 

“The Cassel Salpeter team worked truly and tirelessly for our best interests,” said Dr. Pasternack. “Communication between Cassel Salpeter, Primary Eye Care Center, ReFocus and the rest of the deal team was continuous and flowed smoothly. Without Cassel Salpeter’s efforts, the deal would not have closed.”

The Cassel Salpeter deal team was led by Chairman James Cassel, Director Laura Salpeter and Associate Edward Kropf. Legal counsel for Primary Eye Care Center was Thomas Marrion and Anna Gurevich of Hinckley Allen. Joanne Marcoux at CohnReznick LLP and Kim Bernier at Primary Eye Care Center also played pivotal roles in the deal and assisted all parties throughout the process.  

About Cassel Salpeter & Co.:

Cassel Salpeter & Co. LLC is an independent investment banking firm that provides advice to middle market and emerging growth companies in the United States and worldwide. Together, the firm’s professionals have more than 50 years of experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Cofounded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior partners have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at www.CasselSalpeter.com.

About ReFocus Eye Health:

ReFocus Eye Health is a management services organization dedicated to the provision of best-in-class eye care administered through ReFocus and affiliated groups of eye care physicians. ReFocus’ current affiliate network includes 30+ locations across Connecticut, Massachusetts, New Jersey, Pennsylvania and Rhode Island. ReFocus Eye Health is headquartered in Stamford, CT. To learn more, visit www.refocuseye.com.

Miami Investment Bank Assists in Birmingham, Alabama, Clinical Trial Research Firm’s Acquisition   

MIAMI – May 25 2023 – Cassel Salpeter & Co., an independent investment banking firm that provides advisory services to middle market and emerging growth companies in the United States and worldwide, today announced that it has successfully advised Central Research Associates Inc. (“CRA”), a leading, multispecialty clinical research site that offers clinical trial opportunities to patients in Birmingham, Alabama, and the surrounding areas, in its sale to Flourish Research Holdings LLC (“Flourish Research”), a clinical trial site network with locations throughout the United States, backed by NMS Capital.

CRA was founded by Dr. William Whitley in 2016 as a research site for conducting Phase II-IV clinical trials across various therapeutic areas. The site is located on the campus of St. Vincent’s Hospital in Birmingham, Alabama. CRA has grown consistently since its inception and is a leading national enroller in vaccine studies.  

“It was a pleasure working with Dr. Bill Whitley and his team on this transaction,” said Cassel Salpeter Managing Director Ira Z. Leiderman, who led the process in identifying a strategic buyer, negotiating the transaction, and assisting throughout the diligence and closing processes. “Bill built a strong organization that I am certain will be quite additive to Flourish Research,” added Leiderman.  

“The Cassel Salpeter team was fantastic to work with,” said CRA Founder Dr. Whitley. “They were able to introduce us to the right party in Flourish Research and efficiently facilitate the deal. We are very grateful for their diligent work.”

Cassel Salpeter Associate Tahz Rashid assisted with the transaction. The legal counsel to CRA was Jason McDonald of Greenberg Traurig, P.A. 

Cassel Salpeter & Co., an independent investment banking firm that provides advisory services to middle market and emerging growth companies in the United States and worldwide, today announced that it has successfully advised Franmar Corporation (“Franmar”), a South Florida provider of school bus transportation, in its sale to Beacon Mobility (“Beacon”), which provides outsourced transportation services for adults and schoolchildren across the United States, backed by the Audax Group.

Since its inception over forty years ago, Franmar has emphasized its devotion to delivering safe, reliable student transportation in its effort to be the most dependable transportation provider in Miami-Dade, Broward and Monroe counties. It is based in Cutler Bay, Fla.

Beacon, an expanding network of companies headquartered in Wilbraham, Mass., serves its customers’ diverse needs by providing transportation solutions for school districts, special education programs, charter services, regional transit authorities and non-emergency medical programs, as well as managed services.

“Having grown up in Miami and ridden on Franmar busses throughout my childhood, it was great to find a buyer in Beacon that will carry on the legacy that was built by Fran Martinelli. With further investment, Beacon has unlimited potential in the growing South Florida market,” said Managing Director Philip Cassel, who led the process helping Franmar negotiate the transaction and assisting throughout the due diligence and closing process. Tahz Rashid from Cassel Salpeter assisted with the transaction.

“It was a pleasure to work with the Cassel Salpeter team. They helped us keep the process moving forward and met the transaction timeline, while allowing us to focus on the business without interruption. It really felt like they had our back throughout the entire process,” added Franmar founder Fran Martinelli.

Other professionals who assisted in closing the transaction include Danielle Price, Isabel Diaz, Sydney Landers and Alexa Duarte of Holland & Knight LLP, counsel to the seller, and Albert Sueiras of the accounting firm Sueiras & Amador. The buyer was represented by David Duke, Chief Commercial Officer at Beacon and Amanda Tonelli, Manager of Mergers & Acquisitions at Beacon, as well as Foley & Lardner LLP and Anderson & Kreiger LLP, together counsel to the buyer.