Compass Group Equity Partners Completes Sale of New Age Medical to Avesi Partners

ST. LOUIS--(BUSINESS WIRE)--Compass Group Equity Partners ("Compass Group"), a St. Louis-based private equity firm, announced the successful sale of its portfolio company, New Age Medical ("New Age"), a MedTech hub serving the spinal surgery market, to Avesi Partners.

Founded in 2012 and headquartered in St. Louis, New Age connects medical device manufacturers, sales representatives, hospitals and ambulatory surgery centers, and surgeons. It simplifies the supply chain for facilities and gives surgeons access to the latest spinal implants, orthobiologics and related products.

Compass Group invested in New Age in 2021, partnering with co-founders Kevin Bly and Bret Brody. During Compass Group's ownership, New Age completed strategic acquisitions that expanded its presence across the Northeast and Midwest. It also deepened its relationships with hospitals, ASCs, manufacturers and independent reps, and added key management hires to support continued growth. The company now works with more than 85 manufacturers, 100 reps, 200 hospitals and ASCs, and 350 surgeons nationwide.

"Our thesis research pointed us to MedTech services as an attractive sector, and New Age Medical stood out because of management’s vision and the trust they'd built across the industry," said Chris Gibson, Managing Partner at Compass Group. "Our job was to help them scale. We're proud of the company New Age has become, and we're confident Avesi is the right partner for its next chapter."

"Compass Group gave me the support and resources to work on the business rather than in the business," said Kevin Bly, Co-Founder and CEO of New Age Medical. "With a stronger team in place and a partner helping us balance our organic and inorganic growth strategy, we were able to scale much faster than we could have on our own."

Alongside Gibson, the Compass Group deal team included Ryan Roepke and Kevin Pavlacic.

About Compass Group Equity Partners

Compass Group Equity Partners is a St. Louis-based private equity firm focused on partnering with founders to help build lower middle-market companies. Founded in 2014, Compass Group brings a thesis-driven approach and decades of operational, financial, and strategic experience to aid management teams in accelerating growth for long-term value creation. For more information, please visit www.cgep.com.