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Pamlico Capital Announces Recapitalization of Daxko, Inc.

Sep 06, 2016

Pamlico Capital (“Pamlico”) today announced that GI Partners has entered into an agreement to acquire Daxko, Inc. (“Daxko” or the “Company”) in a recapitalization transaction with management. Terms of the transaction have not been disclosed.

Headquartered in Birmingham, Alabama, Daxko is a leading provider of mission critical software to member-based health and wellness organizations. Daxko helps customers achieve high levels of operational efficiency, deliver strong fiscal management, and engage their members in meaningful ways. Pamlico acquired Daxko, in partnership with management, in February 2014, and has supported the Company as it completed two acquisitions, added over 50 employees, and grew revenue by approximately 30% per year.

“Pamlico has been a tremendous partner over the last several years. Their guidance as we developed and executed on key strategic growth initiatives has been invaluable,” said Dave Gray, Daxko’s Chief Executive Officer. “We have truly enjoyed our partnership with Pamlico and want to thank them for their support.”

“Daxko was an outstanding investment for Pamlico and our limited partners. Dave Gray and his team did a tremendous job of generating strong organic growth and executing on strategic acquisitions to build a unique technology platform in the health and wellness sector,” said Art Roselle, a Partner at Pamlico.

“We can’t say enough about Dave Gray and the rest of the Daxko team. We appreciate all of their efforts and wish them continued success with GI Partners,” said Eric Wilkins, a Partner at Pamlico.

Daxko represents the first realization from Pamlico Capital III, a $650 million fund raised in 2013.

Daxko and Pamlico were advised by Harris Williams LLC (financial advisors) and Troutman Sanders LLP (legal advisor). Ropes & Gray LLP served as GI Partners’ legal advisor. The closing of the transaction is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976.

  • About Pamlico
  • About Daxko

About Pamlico

Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: digital infrastructure, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of over $3.5 billion. For additional information, please visit