01 February 2018

Miller Johnson Represents SpendMend in Investment Partnership With Sheridan Capital Partners

The Transaction

In January 2018, SpendMend, LLC (SpendMend) consummated an investment partnership with Sheridan Capital Partners (Sheridan), a Chicago-based private equity firm. SpendMend provides audit recovery, cost containment, and spend visibility services to leading healthcare providers. Headquartered in Grand Rapids, MI, SpendMend’s services deliver tangible results, including monetary recoveries, cost reduction insights, and analytics and benchmarking tools to its customer base.

Dan Geelhoed, CEO of SpendMend, said “Sheridan’s sector focus and ability to bring both relevant experience and immediate value to our organization was undeniable. I’ve had a close relationship with Miller Johnson over the years especially with Dustin who has been a valued mentor and advisor.  The Miller Johnson M&A team personalized the transaction and provided experience and valuable insight to our team.”  Rob Heminger, President of SpendMend also added that “the Miller Johnson team’s expertise and foresight took a tremendous burden off our shoulders, streamlining a very complex transaction.  Choosing Miller Johnson was clearly one of our best decisions in the entire process, which was critical in stabilizing an optimal foundation with Sheridan moving forward.”

Dustin Daniels led Miller Johnson’s transaction team of Anne Marie Carson (M&A), Neil Williams (Tax), Loic Dimithe (M&A), Nate Plantinga (Employment) and Frank Berrodin (Employee Benefits). Charter Capital Partners served as the financial advisor to SpendMend.

SpendMend LLC

( SpendMend is an expert in the field of spend visibility and audit recovery, and has analyzed billions of dollars in healthcare operating expenditures and produced millions of recovery. SpendMend developed high-tech analysis, data mining, benchmarking, and contract compliance tools to provide clients with a deeper view into spending data allowing for increased saving opportunities.

Sheridan Capital Partners

( Sheridan focuses on lower middle market buyouts and growth equity investments across the consumer health sector in the U.S. and Canada with enterprise values from $25 million to $150 million.

Miller Johnson’s Mergers and Acquisitions Group

Miller Johnson’s M&A practice group collaborates with clients and their advisors to structure, negotiate and close deals and to navigate the various challenges that can arise in the context of mergers, acquisitions, dispositions and other business combination or investment transactions.

Miller Johnson is top listed for mergers and acquisitions with U.S. News & World Report’s Best Law Firms and is ranked by Chambers USA. At The M&A Advisor’s national awards and the M&A Deals and Dealmakers regional awards, Miller Johnson attorneys are consistently involved in deals honored as winners and finalists.

For further information, please contact Dustin Daniels at (616) 831-1737 or Erik Daly at (616) 831-1723.