New Heritage Capital portfolio company ProTransport-1 LLC is making another ambulance transport acquisition – Century Ambulance Service Inc. The deal follows the business' July purchase of PRN Ambulance.
Century Ambulance provides medical transportation in the Jacksonville, Florida, metro area.
Cotati, California-based ProTransport provides patient logistics services to health care systems. Company management teamed up with New Heritage in 2012 to recapitalize the company, which now has 170 vehicles. The Century acquisition allows ProTransport to expand geographically.
Boston-based New Heritage generally partners with founder or family-owned businesses for minority recapitalization or growth equity transactions. The firm's other investments include Eptam Plastics, a plastic fabrication business, and Reach Air Medical services, which provides emergency air medical services.
The transaction follows a July deal from Envision Healthcare Holdings Inc. (NYSE: EVHC), which agreed to pick up ambulance operator Rural/Metro Corp. from PE firm Warburg Pincus.