Sagewind Capital (Sagewind), a New York-based private equity firm, has invested in Federal Advisory Partners, a strategy consulting firm serving public and private sector organisations, and the federal healthcare market.
Financial terms of the transaction have not been disclosed.
Headquartered in Arlington, Virginia, Federal Advisory Partners has deep experience serving federal healthcare customers, including the Veterans Health Administration (VHA) and the Defense Health Agency (DHA). Founded in 2017, the company is a leader in revenue cycle management and is committed to supporting clients in their mission to efficiently provide exceptional healthcare to veterans and active-duty military.
Steven Lefkowitz, Managing Partner of Sagewind, says: “Our investment in Federal Advisory Partners builds on our extensive experience investing in and supporting government services firms. Federal Advisory Partners has a strong track record of serving federal healthcare agencies and we are excited to partner with their exceptional team at this exciting time. We look forward to supporting Federal Advisory Partners as we aim to diversify and enhance the Company’s capabilities and introduce its deep expertise to an entirely new customer set.”
Tim Borchert, co-founder and Chief Executive Officer of Federal Advisory Partners, Andrew Patrick, Chief Operating Officer, and Chris Katkocin, Vice President, will continue to lead the Company. Borchert has over 20 years of industry experience working with community hospital systems and federal healthcare delivery networks. Patrick and Katkocin both have extensive experience working in federal healthcare and delivering client focused solutions.
Borchert says: “I am very proud of what Federal Advisory Partners has accomplished since we founded the company. We have earned the confidence of our clients and are grateful that they continue to entrust us with mission critical work. Sagewind has a history of successfully partnering with management teams in the government services sector to expand businesses and we are thrilled to collaborate with them to accelerate our growth by broadening our capabilities and entering new markets.”
In connection with the transaction, Vice Admiral C Forrest Faison III, the 38th Surgeon General of the United States Navy, has been appointed to Federal Advisory Partners’ Board of Directors. Dr Faison is a physician, longtime healthcare administrator, and senior military commander with extensive experience in healthcare innovation. He served nearly four decades in the United States Navy. As Surgeon General, he was chief of the Navy’s Bureau of Medicine and Surgery, responsible for leading a global healthcare network of 63,000 medical personnel stationed around the world who provide high quality health care to more than 2.6 million people with an annual operating budget over nine billion dollars.”
“I am excited to partner with Sagewind and the Federal Advisory Partners team, to continue identifying operational efficiencies that can improve the care we provide our nation’s veterans and active-duty military,” says Faison. “The Company is well positioned to have a real impact and I look forward to supporting management in accomplishing our shared vision to deliver meaningful outcomes for clients.”
Federal Advisory Partners is Sagewind’s fifth current platform in the government services sector. Sagewind has also invested in Axient (formed through the combination of QuantiTech, Systems Engineering Group, Millennium Engineering, and Dynamic Concepts), By Light, GCOM and Sigma Defense Systems.
Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as Sagewind’s legal counsel. Holland & Knight served as legal counsel and G Squared Capital Partners served as exclusive financial advisor to Federal Advisory Partners.
