The Central Valley Fund, a private investment fund focused on middle market California Central Valley companies, has made a mezzanine investment of USD3.75m in Quest Discovery Services.
The capital was used to refinance Quest’s previous subordinated debt holder and to provide funds for acquisitions.
Founded over 40 years ago, Quest offers outsourcing solutions for medical and public records acquisition, including process serving, document acquisition, copying and deposition reporting. The company primarily operates in California, but offers nationwide services to national accounts.
Ed McNulty, a partner with The Central Valley Fund, says: "We are pleased to be business partners with the team at Quest. CVF seeks to partner with strong management teams, like Quest’s, in order to effectively use its capital to help businesses grow."
Elizabeth Whitmore, Quest’s president, adds: "Partnering with a local fund like CVF, both financially and strategically, is an instrumental step in allowing Quest to capitalize on the growth opportunities ahead of us."
The Central Valley Fund was established by the principals of Gael Partners to finance later stage growth through mezzanine and preferred equity investments.
