Wellspring Capital Management has acquired Summit Spine & Joint Centers, according to a news release.
Summit, founded in 2014 and based in Lawrenceville, Georgia, is a provider of minimally invasive spine services in the southeastern United States. Summit manages and operates 17 ambulatory surgery centers and 44 clinics across Georgia, North Carolina, South Carolina and Tennessee.
Wellspring, founded in 1995 and based in New York, is a middle market private equity firm. The firm generally pursues controlling investments in companies with $100 million to $1 billion in enterprise value and $20 million to $100 million in EBITDA in healthcare services and several other sectors.
Wellspring partnered with Summit’s management team and existing sponsor, MSouth Equity Partners, to complete the acquisition.
Terms of the transaction were not disclosed.