MTS Health Partners, a New York merchant bank focused on the healthcare industry, has named William Kane senior managing director.
Kane was a senior managing director at New York buyout firm Harvest Partners, although most recently he was a special limited partner focused on healthcare deal generation, according to a press release. He was with Harvest Partners for 17 years.
MTS was formed in 2000, and the following year closed a debut $80 million (€66 million) fund. The firm provides both equity capital and advisory services.
MTS was founded by Curtis Lane, the former head of Bear Stearns’ healthcare investment banking group, and Andrew Paul, a former managing general partner of New York buyout firm Welsh Carson Anderson & Stowe.
“Private equity firms need to have a defensible niche,” Kane said. “At MTS, I also felt that I could have a significant impact on a growing business.”
MTS’ deal size ‘sweet spot’ is between $25 million and $100 million in transaction value, Kane said. His new firm will likely raise a follow-on vehicle in the next two to three years, Kane added.
Although Kane said MTS’ advisory business creates many proprietary deal opportunities for the firm, Kane will be active on MTS’ investment business only.
Harvest Partners’ most recent fund closed on $558 million. The firm recently announced the completion of its acquisition of New Flyer Industries, a Winnipeg, Manitoba bus maker. The deal was done in partnership with Lightyear Capital, based in New York.