Quarterly Review  |  February 2, 2021

Gauge Capital 2020 Year In Review

Although 2020 was filled with unprecedented disruptions to health, economic, and political norms, the Gauge team and portfolio company management teams in our portfolio navigated these challenges ably and wisely. Gauge completed two platform acquisitions and our portfolio companies completed 12 add-on acquisitions, while also executing two very successful exits of Wireless Vision and Miami Beach Medical Group.

In 2020, Gauge was also named to Inc’s Private Equity 50 list, honoring the most founder-friendly PE firms. The final list recognizes 50 firms that entrepreneurs can trust based on their commitment to help founder-led businesses thrive, even in the face of challenges.

In early 2021, Gauge announced the closing of its third fund with an oversubscribed first and final close of $800 million in commitments. The Gauge team is the largest investor in the fund and represents over 25% of the committed capital.

Platforms Closed

Gauge closed on two platform investments last year:

  • Partnering with the shareholder physicians, Gauge completed the acquisition of Urology America (fka Urology Austin), a fully integrated urology network that provides comprehensive urology services, in October.
  • Partnering with the founders, Gauge closed a growth financing in a branded consumer nutrition and supplements business.

Platforms Exited

Gauge exited two platform investments last year:

  • Gauge closed the sale of Miami Beach Medical Group, a provider of primary care, specialty care, and ancillary services to Medicare Advantage and Managed Medicaid members under global “at‐risk” contracts, exiting to Sun Capital in December. During Gauge’s hold period, the company saw significant growth in its covered patient population and expanded geographically to additional locations in Florida.
  • Gauge substantially realized its position in Wireless Vision, the largest T-Mobile retailer in the USA with approximately 600 T-Mobile stores in 27 states, through a recapitalization in December. During Gauge’s hold period, the company saw significant growth in store count and expanded nationally.

Add-ons Closed

Gauge completed 12 add-on acquisitions across eight different portfolio companies in 2020. These add-ons were in the Beauty and Personal Care, Business Services, Food, and Healthcare industries.

Team Additions

Gauge hired two new professionals to the team last year:

  • In June, Gauge announced the hiring of Jason Snider as Chief Financial Officer. Prior to Gauge, Jason held senior finance roles at TPG and as the Chief Financial Officer for a large family office.
  • In August, Gauge announced the hiring of Kevin Rafferty as a Vice President. Prior to Gauge, Kevin was at Harvard Business School.

About Gauge Capital

Gauge Capital is a private equity firm that partners with founders, managers and equity stakeholders of successful middle market companies to maximize their potential. Gauge invests in rapidly growing services and technology-enabled companies in the healthcare services, business services, industrial, consumer and food sectors. For more information, please contact Andrew Peix, Principal and Director of Business Development at apeix@gaugecapital.com.