Orange County Business Journal

Riordan, Lewis in $473M Sale of Portfolio Company

Jane Yu Thursday, July 19, 2012

Los Angeles-based private equity firm Riordan, Lewis & Haden notched a $473 million deal to sell a healthcare consulting company, an investment that had been headed by its Irvine office for the past five years.

Westfield, Ind.-based maxIT Healthcare Holdings Inc. is being acquired by McLean, Va.-based Science Applications International Corp. in a deal expected to close in August.

MaxIT provides a range of services including strategy and planning, electronic health record implementation and optimization, and management consulting. The company primarily serves commercial hospital groups, and has worked with more than 600 healthcare clients in the U.S. and Canada.

Riordan Lewis & Haden has more than $400 million in committed capital under management. It typically invests in companies with annual revenues between $20 million and $200 million, and with pre-tax earnings of between $5 million and $20 million.