CCP Announces American Vascular Associates Growth Recapitalization

April 26th, 2023 — TAMPA BAY, Fla. -- Officials with American Vascular Associates, LLC (AVA), a nationally recognized network of outpatient vascular and endovascular centers based in Palm Harbor, Fla., announced today the company’s completion of a growth recapitalization by two leading investment firms, Petra Capital Partners (Nashville, Tenn.) and Canopy Capital Partners (Tampa, Fla.). This transaction will allow for AVA’s accelerated growth and additional physician partnerships as the demand for office-based labs and ambulatory surgery centers continues to grow.

“After an exhaustive national search for the right partner, we are thrilled that both Petra Capital and Canopy Capital made the decision to take this journey with us,” said Jan Dees, Founder and Chief Executive Officer of American Vascular Associates. “Together, with our new financial partners and the existing AVA team, who will remain shareholders in AVA, we will be well-positioned to positively impact our growth trajectory by providing an outpatient alternative to hospital-based procedures which allows for an improved patient experience, particularly in underserved communities.”

Founded in 2008, AVA develops and manages nearly 20 outpatient vascular centers across the South, Mid-Atlantic, Midwest and Northeastern United States. Partnering with close to 100 interventional cardiologists, radiologists, nephrologists, and vascular surgeons, the company builds purposeful centers to meet the unique needs of each market it serves.

“Petra has been studying the vascular space for several years and has evaluated multiple platforms across the country,” said David Fitzgerald, Partner with Petra Capital. “When we met the team at American Vascular and heard their vision for growth and quality, we felt it would make a great partnership. The opportunity to provide better care for patients in lower cost settings fits squarely within Petra’s healthcare investment thesis.”

“We are thrilled to partner with both the AVA management team and Petra Capital on this investment,” said Scott Long, Managing Partner at Canopy Capital Partners. “It was clear to us from our initial meeting that this is a differentiated business with a high-quality team and culture.”

About Canopy Capital Management, LLC

Investing since 2015, Canopy Capital Partners (“Canopy”) is a private equity investment firm with offices in Tampa, Florida. CCP partners with management teams and companies experiencing generational ownership transfers in lower-middle market management buyouts, recapitalizations and growth equity investments.  With a focus on businesses based in Florida and the Southeast U.S., Canopy invests in companies with at least $10 million of revenue and $2 million of pre-tax earnings.  For more information, please visit the firm's website at www.CanopyCP.com.

About American Vascular Associates (AVA)

Founded in 2008, AVA has a rich tradition of developing and managing best-in-class outpatient vascular centers with nineteen locations in the South, Mid-Atlantic, Midwest and Northeastern United States. By partnering with close to 100 interventional cardiologists, radiologists, nephrologists, and vascular surgeons we have purpose-built out-patient centers to serve selected markets. For 15 years AVA has been self-funded and is considered one of the nation’s largest providers of outpatient vascular care. Both our mission and our passion are embolic therapies for men and women and amputation prevention. www.americanvascular.com.

About Petra Capital Partners

Petra Capital Partners is a private equity firm engaged in providing growth capital for companies located throughout the United States. Our investment firm has an established track record of success spanning over 20 years and deploying more than $750 million of capital invested into more than 100 companies. We are seeking investments for our current SBIC fund, Petra Capital Fund IV. We invest in equity or debt securities with a primary focus on backing high growth business services, tech-enabled services and healthcare services companies.