DFW Capital Partners has partnered with PineBridge Investments and co-investors to acquire a majority interest in Covenant Surgical Partners via a $35 million senior preferred equity investment. Iroquois Capital, a founding investor in the company, also invested alongside the two firms. Concurrently, SunTrust Bank led a $76.5 million senior credit and acquisition facility for Covenant. Based in Nashville, Covenant operates 19 ambulatory surgical centers (ASCs) focused on certain core medical specialties that are driven by both managed care cost containment and an aging population. The equity investment facilitated the acquisition of five new ASCs and an increase in the company's senior credit facilities to support future acquisitions.
