Hi all - we’ve got a niche B2B consulting and a healthcare services deal for this week’s RTC Live Deals series.
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1. Niche Consultancy Serving Life Insurance and Annuity Clients
🔗 Access Deal Materials
Interested in learning more? Contact Tomos at [email protected] to receive the full deal details.
📝 Deal Overview
Why this deal: Niche consulting with recurring multi-year projects. Tailwind from industry-wide demand for modernization in insurance operations.
2025E Revenue: ~$9,000,000
2025E EBITDA: ~$2,500,000
Deal Type: Founder-owned; partial or majority sale that provides liquidity as well as strategic growth support post-close
Headquarters: CT, United States
🔎 What They Do
Advisory and systems implementation for life insurance and annuity clients, targeting carriers, TPAs, and software vendors for digital transformation and modernization initiatives.
Company provides:
Management Consulting (50% of revenue): Strategic advisory, operational assessments, business transformation, and vendor selection.
Systems Integration (50% of revenue): End-to-end implementation of policy administration platforms and modernization programs.
Typically engaging ~3 large-scale, multi-year projects at a given time
Key Verticals: Life insurance and annuity carriers, TPAs, and software providers across the U.S.
💡 RTC Take
Founder-to-institutional transition opportunity in a niche corner of the insurance value chain. The business sits at the intersection of legacy modernization and digital transformation, both of which are secular trends driving spend across life and annuity carriers. With ~30% margins and multi-year contracts, a good fit for an investor with experience in insurance services, digital transformation, or IT consulting roll-ups.
💼 Recent Private Equity Deal Comps
Acquirer | Target | Date | Notes |
|---|---|---|---|
The Chartis Group (Blackstone-backed) | Healthlink Advisors | Oct 2025 | Add-on acquisition of a healthcare IT and digital-transformation consultancy |
Blackstone | The Chartis Group | Aug 2024 | Majority stake from Audax (~$1.4B EV). Positions Chartis as a scaled, tech-enabled healthcare advisory platform. |
Coker Group (Trinity Hunt-backed) | Health Care Program Advisors | Feb 2025 | Add-on to bolster Coker’s provider-advisory and analytics capabilities |
Trinity Hunt Partners | Coker Group | Mar 2024 | Majority recap of a 35-year-old healthcare consulting and advisory firm. Forms the foundation for a national buy-and-build strategy |
2. Outpatient Mental Health and Interventional Psychiatry Practice in IL (Project Nexus)
🔗 Access Deal Materials
Interested in learning more? Contact Hunter at [email protected] to receive the full deal details.
📝 Deal Overview
Why this deal: Established practice with private-pay model, reducing exposure to reimbursement risk and allowing for premium pricing and faster cash collection.
2025E EBITDA: $1,100,000
Deal Type: Majority recap; real estate sale is optional
Headquarters: IL, United States
🔎 What They Do
Service Mix: Traditional psychiatric evaluations, medication management, and interventional therapies (TMS/Ketamine)
Patient Base: 300+ active patients
💡 RTC Take
High-margin cash-pay outpatient services and recurring patient demand create durable, predictable cash flow. The broader mental health space remains highly fragmented, offering a clear regional roll-up opportunity. Size is a good fit for searchers or as an add-on for PE-backed platforms.
💼 Recent Private Equity Deal Comps
Acquirer | Target | Date | Notes |
|---|---|---|---|
Clearview Capital | Advantage Behavioral Health | Apr 2025 | Recapitalization of an outpatient mental-health provider across nine states. |
Oceans Healthcare (backed by Webster Equity Partners) | Haven Behavioral Healthcare | Jan 2025 | Acquisition of seven behavioral-health hospitals + outpatient services across five new states, expanding platform footprint. |
Tenex Capital Management | Behavioral Innovations | Jun 2024 | Acquisition of an applied behavior analysis (ABA) therapy provider (77 centers across TX, OK, CO) from Shore Capital Partners. |
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Disclaimer: Information presented herein is derived from publicly available sources and third-party materials believed to be reliable. It is provided solely for educational and informational purposes and does not constitute investment advice or a solicitation. Road To Carry is not affiliated with, nor does it represent, the seller, broker, or any other party to the referenced transactions.
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