ICV Partners, an investment firm focused on lower middle-market service providers across multiple industries, has acquired Urgent Care Group and has combined it with its portfolio company, Total Access Urgent Care.
UCG provides urgent care services across 24 locations and three brands in Wilmington, NC, the greater Atlanta area, and South Carolina. The firm offers a comprehensive urgent care service including capabilities for x-ray and lab testing, Covid vaccinations and testing, flu vaccines and care for injury and illness. The firm has over 400 professionals caring for over half a million patients a year.
“This is our first acquisition since acquiring TAUC last year and the combination with UCG will provide improved scale and exposure to the rapidly growing Southeastern U.S. market,” commented Ira Moreland, ICV managing director. “The complementary nature of the two companies will expand and diversify strategic expertise, offerings, and geographic presence. In addition to building partnerships with health systems, we also have a number of acquisition opportunities in new and existing markets that will further strengthen our platform to deliver high quality patient care.”
DLA Piper provided legal counsel to ICV Partners. Raymond James served as financial advisor, and Bradley served as legal counsel to Urgent Care Group. Row Associates served as special advisor to the board of directors of UCG in connection with the transaction.