SC&H Capital (“SC&H”), a leading investment bank specializing in M&A advisory for middle-market companies, is pleased to announce that its client, Petrone Associates (“Petrone”), has been acquired by One Physics (“One Physics”), a portfolio company of Blue Sea Capital.
Petrone Associates was founded by Thomas Petrone in 1982 and is a provider of medical physics consulting services based in Staten Island, New York. The Company provides a full suite of diagnostic imaging and radiation oncology physics services to healthcare facilities including hospitals, radiation oncology clinics and radiology facilities across the New York metropolitan market and New Jersey. The acquiror, One Physics, is the largest outsourced provider of diagnostic and therapy medical physics services in North America. The Company serves a client base of over 7,000 hospitals, imaging facilities, cancer care centers and other healthcare providers.
“From the outset, SC&H served as a trusted partner to us – thoughtful, strategic, and fully understanding of our goals,” said Thomas Petrone. “They leveraged their deep experience and extensive relationships in the medical physics space to attain an excellent result for the future of Petrone Associates, our employees and our clients. I could not be happier with the outcome of the transaction and look forward to continuing to deliver the highest quality level of physics services to our customers and providing additional opportunities for our employees as a part of the One Physics family.”
“The guidance we received from the entire SC&H team throughout the transaction and diligence process was extremely valuable in getting us to the finish line,” said Alex Petrone, Operations & Business Development Manager. “Working together with an experienced advisor resulted in an efficient process and a great transaction.”
“It was a privilege to advise Tom on this transaction,” said Greg Hogan, Managing Director at SC&H Capital. “Petrone is one of the premier providers of diagnostic medical physics services in the country and we’re excited for what lies ahead as they join the One Physics platform. The transaction serves to highlight the ongoing trend towards consolidation in the medical physics industry as demand for services from full scope, high quality medical physics providers continues to increase.”
About SC&H Capital
SC&H Capital is an investment banking and advisory firm specializing in mergers and acquisitions (M&A), employee stock ownership plans (ESOP), distressed M&A, capital raises, financial restructurings, and business valuations for middle-market companies nationally. SC&H Capital delivers services across numerous industries including technology, healthcare, manufacturing, consumer, business and professional services, and government contracting. We are recognized for delivering relevant market insights and tailored solutions to help owners achieve their true strategic value. To learn more, visit www.schcapital.com.
