New Firm Alert: Candescent Partners
Candescent Partners recently co-led an acquisition of Center for Wound Healing and Hyperbaric Medicine, an operator of a dozen advanced-wound centers in the Midwest, Mid-Atlantic and Florida. It was the Boston-based private equity firm's first deal since being (quietly) formed late last year by Steve Jenks and Sandy McGrath, former managing partners with Capital Resource Partners. Jenks says that the transaction, done in partnership with Gemini Investors and Harbert Mezzanine Partners, is representative of the types of deals Candescent is looking for. "We want to invest in healthcare services, business services, software and some selective consumer product services companies -- with an emphasis on the healthcare and business services," Jenks explains. "We publicize that we want companies with between $10 million and $50 million in revenues, but 90% will be
