Waud Capital Taps Pendergrast For Business Development Role

Feb 15 2017 | 9:52pm ET

Waud Capital Partners has named former Great Point Partners executive David Pendergrast as vice president for business development.

Pendergrast’s appointment is effective immediately, the company said in a statement, and will concentrate on identifying investment opportunities within the firm’s healthcare services vertical.   

Prendergast was formerly vice president at Great Point Partners, where he focused on healthcare, and more specifically, outsourced provider services, payor services, dental, HCIT and distribution businesses, Waud said. He began his career as an associate at Summit Partners, where he focused primarily on the technology sector, with an emphasis on software, internet, and communications technology companies.

The new hire comes shortly after Waud named veteran payments industry executive Andrew Rueff as an operating partner.

“Dave’s industry insights and network are very relevant to our target niches in healthcare,” said Waud partner David Neighbours, in the statement. “We look forward to his contributions as we seek to make new platform investments and accretive follow-on acquisitions.”

Founded in 1993 and based in Chicago, Waud Capital Partners acquires or creates platforms in the U.S. lower middle market through control-oriented growth equity investments, industry consolidation, buyouts or recapitalizations. The firm targets services businesses in large, growing, fragmented markets in healthcare services and business and technology services. 

Currently investing from its $1.056 billion Waud Capital Partners IV fund, which closed in February 2016, the firm has approximately $2.1 billion in AUM and has successfully completed more than 200 investments since inception. 

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