Confluence Advises JD Palatine in Capital Raise Transaction to Support Continued Growth

Confluence Advisors, LLC (“Confluence”) acted as the exclusive investment banker to JD Palatine (“JDP”) in the placement of capital for growth. Mezzanine debt was provided by Tecum Capital and senior debt was provided by First Commonwealth Bank. 

Founded in 2009 by Chad Killian, JDP is a consumer reporting agency that provides background and employment-screening services to over 10,000 clients nationwide. Since inception, JDP has grown into an industry leader by providing sophisticated technology solutions to protect customers in a wide range of industries. The Company’s in-house data warehouse delivers superior accuracy and fast turnaround times. Headquartered in Pittsburgh, PA, JDP is accredited by the Professional Background Screening Association, the most widely recognized trade organization for consumer reporting agencies in the U.S. with more than 800 member companies.

“It made all the sense in the world to partner with institutions like Tecum and First Commonwealth,” said Killian. “I’ve got the capital to pursue new opportunities, a sounding board to help me along the way and the flexibility to continue running my business.”

Confluence Advises Copperhead Chemical in its sale to PMC Group

Confluence Advisors, LLC (“Confluence”) served as the exclusive advisor to Cobra Investments Management Inc. and its two subsidiaries, Copperhead Chemical Company Inc., and Copperhead Investments Inc. (collectively “Copperhead”) with respect to its sale to PMC Group International, Inc. (“PMC”). 

Located in Tamaqua, Pennsylvania, Copperhead is an FDA registered and current good manufacturing practices (“cGMP”) compliant manufacturer of active pharmaceutical ingredients (“APIs”) and specialty chemical intermediate products.

Copperhead has been the sole manufacturer of the FDA approved cardiac therapeutic drug nitroglycerin in the U.S. for over 70 years and a custom manufacturer of drug dosage forms. It is also a major producer of energetic chemicals (explosives and propellants) for the defense industry as well as a novel class of preservatives and antimicrobials. Copperhead’s products are sold globally.

Cathy McPhail, President and Chief Executive Officer, shared, “The Confluence team was instrumental in closing this transaction, and they were a pleasure to work with from start to finish.  They skillfully navigated numerous twists and turns along the way, and their perseverance led us to the desired outcome - getting the deal done.”

About Confluence Advisors, LLC

Confluence Advisors helps business owners maximize the sale of a business, raise optimal funding, or acquire a business. With over 80 years of combined deal experience and more than $2 billion in transactions, the Confluence team works every day to help companies and their stakeholders through critical business transitions.

Confluence Advises Recovery Pathways in its sale to BayMark Health Services

Confluence Advisors, LLC (“Confluence”) served as the exclusive advisor to Recovery Pathways, LLC with respect to its sale to BayMark Health Services (“BayMark”), a portfolio company of Webster Equity Partners. 

Headquartered in Monroeville, Pennsylvania, Recovery Pathways is an office-based opioid treatment (“OBOT”) provider for patients suffering with addiction. The programs offer medication-assisted treatment (“MAT”) using buprenorphine-based medications in an outpatient, physician’s office setting. Buprenorphine-based medications include Suboxone®, Subutex® and Zubsolv®. Recovery Pathway’s three convenient locations in Southwestern Pennsylvania provide comprehensive treatment to patients with Opioid Use Disorder (“OUD”) from western Pennsylvania, Ohio and West Virginia.

Mike Saul, BayMark Division President, shared, “As we face an unprecedented health crisis across this country, it is easy to forget that the opioid epidemic continues to take more than 130 lives per day. Now, more than ever, people need safe, effective treatment options for substance use disorders. BayMark is proud to continue our work providing such treatment to those who need it, despite the current challenges, and are even more proud to do so through partnerships with providers such as Recovery Pathways.”

 “Working with Confluence was without a doubt the biggest game changer we made for the sale of our company. Their networking reach, coupled with experience and professionalism, made selling our company a seamless process. I would recommend Confluence without reservation!” added Michael Mahoney, M.D., Co-Founder of Recovery Pathways.

About Confluence Advisors, LLC

Confluence Advisors helps business owners maximize the sale of a business, raise optimal funding, or acquire a business. With over 80 years of combined deal experience and more than $2 billion in transactions, the Confluence team works every day to help companies and their stakeholders through critical business transitions.

Confluence Advises Forta Corporation in Securing Investment for Growth

Confluence Advisors, LLC (“Confluence”) served as the exclusive advisor to Forta Corporation (“Forta”) with respect to its investment from PNC Riverarch Capital (“Riverarch”), a middle-market private equity firm affiliated with the PNC Financial Services Group, Inc. (NYSE: PNC). Members of the Lindh family will continue to lead the business and remain as shareholders, with John Lindh promoted to CEO and Lauren Lindh Camp promoted to President. 

Headquartered in Grove City, Pennsylvania, Forta is a world-leading manufacturer of synthetic fibers for use in concrete and asphalt applications. It has provided fibers for over one billion square feet of reinforced concrete worldwide and is one of the most widely recognized brands in the industry. The company has developed proprietary and patented product lines to be Stronger Lasting™ for increased life and performance of concrete and asphalt. Forta’s products are in all 50 states and over 50 countries worldwide. Its products are used in the most demanding environments and prestigious locations including sophisticated distribution centers, bridges, airports and roadways, including the German Autobahn and the Jackson Hole Airport.

“Forta continues to experience strong growth in its key markets and we are excited to partner with Riverarch in this next phase of rapid expansion." said John Lindh, CEO.

Lauren Lindh Camp, President, added, “We are grateful to have chosen Confluence to represent us. The team was great to work with and they exceeded our expectations with their dedication and commitment and always had our best interest in mind.”

(See PNC Riverarch’s press release)

About Confluence Advisors, LLC

Confluence Advisors helps business owners maximize the sale of a business, raise optimal funding, or acquire a business. With over 80 years of combined deal experience and more than $2 billion in transactions, the Confluence team works every day to help companies and their stakeholders through critical business transitions.