Petra supports Sante acquisition

Nashville-based Petra Capital Partners said today it has invested $5.4MM in Ft. Worth-based Santé Pediatric Services . Petra's investment was in the form of subordinated debt with warrants and preferred equity in support of the acquisition of Santé by Transition Capital Partners and Enhanced Equity Fund. Santé represented Petra's fifth investment in 2009 and seventh investment from its newest fund, Petra Growth Fund II. Of the five investments made by Petra in 2009, two were in healthcare services, two were in technology enabled services, and one was in healthcare IT. Petra said, in part, "We look forward to another active year in 2010 pursuing quality investment opportunities in these same high growth industries... The firm is actively investing its second SBIC fund, Petra Growth Fund II, which has $160 million of available capital to invest. Its previous funds under management total $130 million. Petra provides non-control subordinated debt and/or preferred stock to high growth companies for expansion, acquisition, buyout or recapitalization in partnership with the founding management team. Petra seeks to invest up to $15 million in growth companies that possess a minimum of $10 million in revenue and positive EBITDA at the time of investment. The fund targets business, healthcare, and information technology services companies."