Class VI Partners (“Class VI”, formerly known as “CapitalValue Advisors” or “CVA”) is pleased to announce the recapitalization of Support, Inc. (“Support” or the “Company”), by Petra Capital Partners (“Petra”). “Our team has had the privilege to work with Dennis and Support for a number of years and have had a chance to see first-hand the incredible impact that the Company has had on the IDD community in Colorado,” said Bobby Motch, Associate at Class VI. “We are excited to watch the next evolution of the Company under the direction of Petra and CEO Bentley Smith.”
Support, Inc. (https://supportinc.com/) is one of Colorado’s leading providers of long-term care services to individuals with intellectual and developmental disabilities. The Company is a registered Program Approved Service Agency (“PASA”) that works in conjunction with Medicaid and state-sponsored programs to provide services for developmentally disabled adults who qualify for Home and Community-Based Services.
“I was fortunate to have worked with Class VI prior to the sale of Support,” said Dennis Kirkman, Founder of Support, Inc. “By the time we took the Company to market, many of the points in Class VI’s CoPilot Market Readiness Assessment had been baked into the company. The Class VI team did a terrific job of telling Support’s story and working tirelessly throughout the entire process, helping me understand the important points along the way. Best of all they helped me reach two goals, which guided my decision from the beginning – the brand and legacy would continue and enhanced opportunities for my management team led by Bentley. Class VI was there all the way from the first phone call to popping a bottle of champagne.”
Founded in 1996, Petra Capital Partners is a private equity firm that is based in Nashville, Tennessee. The firm specializes in financial growth, acquisition, buyout, and recapitalization investments. It seeks to invest in the business service, healthcare service, and technology-enabled service sectors in the United States.
“We are very excited to partner with CEO Bentley Smith and the rest of the Support, Inc. team in the next chapter of the Company’s growth,” said Matt Sotelo, Vice President of Petra. “Dennis has done a phenomenal job building Support, Inc. and impacting countless lives along the way. We plan to continue his legacy of providing excellent care to individuals with intellectual and developmental disabilities in the state of Colorado.”
The Company will continue to operate under the Support name, serving as a leading provider of Home and Community-Based Services to individuals with intellectual and developmental disabilities.
Bentley Smith, CEO of Support, commented, “Our newly formed partnership with Petra will help us continue to execute on our exciting growth plans. From the first introduction to Petra and through the entire process, it was clear that they were the right choice. We now have the backing to grow our existing and new services, while also enhancing the sophistication and quality of our services. An ideal outcome to better serve all of our constituents.”
The transaction closed on September 3rd, 2021. Berg Hill Greenleaf Ruscitti LLP served as legal counsel to Support, and Bass Berry & Sims PLC served as legal counsel to Petra Capital Partners.
Class VI provides middle-market investment banking services, including mergers and acquisitions advisory, corporate advisory, business valuation, and private capital raising services through its affiliate, Class VI Securities, LLC and Member FINRA. Class VI is also affiliated with and offers wealth management services through Class VI Family Office, LLC, a Registered Investment Advisor with the Securities & Exchange Commission.