NexPhase Announces Sale of CPS Group Holdings, Inc.

New York, NY-April 24, 2019

NexPhase Capital, LP (“NexPhase”), co-advisor to the Moelis Capital Partners (“MCP”) Opportunity Funds, announced the successful sale of CPS Group Holdings, Inc. (“Comprehensive Pharmacy Services”, “CPS” or the “Company”) to Frazier Healthcare Partners.

Founded nearly 50 years ago and employing over 2,500 clinical, regulatory and operational pharmacy professionals, CPS is one of the nation’s largest providers of pharmacy solutions to more than 700 hospitals and health system facilities across the United States and Puerto Rico. CPS helps hospital pharmacists tackle complex problems such as medication reconciliation, hyper-inflated drug costs, standardization, centralized distribution, regulatory and compliance, and 340B programs leading to increased quality, reduced admissions and lower costs.

“In partnership with NexPhase and MCP, CPS has grown its suite of services and solutions that empower our clients to help them achieve their goals across the continuum of care,” said Don Nickleson, Executive Chairman of Comprehensive Pharmacy Solutions. “I’m grateful for the work we’ve accomplished during our partnership and look forward to further growing our platform with Frazier Healthcare Partners,” added Nickleson.
 
“CPS has created a leading pharmaceutical platform through numerous successful investments in people, processes, infrastructure and acquisitions. It has been a pleasure partnering with the CPS team to advance our shared vision for the business. We wish them continued success under the Company’s new ownership,” said Andy Kieffer, Partner at NexPhase.

CPS marks the eighth exit by MCP since January of 2016, all of which were co-advised by NexPhase.

NexPhase is currently investing out of NexPhase Capital Fund III, LP with a thematic and operationally-focused approach to making control investments in lower middle market, growth-oriented companies across the healthcare, consumer and software and services sectors. Within healthcare, NexPhase has completed investments in the interventional pain management, autism, revenue cycle management, pharmacy services, non-medical home care and anesthesia sectors.

Harris Williams, William Blair and Houlihan Lokey advised CPS on the transaction, while Ropes & Gray served as legal counsel.


About NexPhase Capital

NexPhase Capital is a thematic and operationally-focused independent private equity firm that makes equity investments between $25 million and $75 million in lower middle market growth-oriented companies in the healthcare, consumer and software and services sectors. The firm was formed by the former principals of Moelis Capital Partners to execute, on an independent basis, the same strategy of completing control investments in lower middle market companies to create value through dedicated operating resources, new sales channels and effective partnerships. Led by Co-Managing Partners Kurt Larsen and Ted Yun, NexPhase advises $1.2B of private equity capital. For more information, please visit www.NexPhase.com.


About Moelis Capital Partners

Moelis Capital Partners LLC, a subsidiary of Moelis Asset Management LP, is a middle market private equity firm founded in 2007. MCP co-manages approximately $872 million of committed private equity capital with NexPhase Capital. For more information, please visit www.moeliscapital.com.