citybiz+ LLR Partners Pumps Undisclosed Amount in Logistics Firm Vantage Point

LLR Partners, a lower middle market private equity firm focused on technology and healthcare, has made a “significant,” unspecified growth investment in Vantage Point Logistics, a maker of specialist supply-chain management software for healthcare organizations. Radian Capital and Tamarind Hill hold minority stakes in the Westerville, Ohio, company.

“VPL has developed an innovative platform of supply chain solutions for health systems, specialty pharmacies, and surgery centers, bringing efficiency and cost savings to these organizations,” said Zack Sigal, who last month was promoted as a partner at the Philadelphia-based LLR.

VPL’s cofounder and CEO Eric McGlade said LLR’s experience partnering with healthcare and technology businesses would be “exceptionally valuable as we continue to deliver benefits from reduced costs, better insights, and increased transparency and efficiency to healthcare organizations.” Piper Sandler served as exclusive financial advisor to VPL in this transaction.

LLR Had Blowout 2021

LLR has raised more than $5 billion over six funds since its inception in 1999. Its most recent fund, worth $1.8 billion, closed in 2019. So far, it has made 122 investments and 58 exits. The firm reported a blowout year in 2021.

“We’ve been in the growth business for a long time, but have never seen anything like 2021,” LLR said in a yearend report titled, “Coming Up for Air.” Last year, LLR made a record 13 investments and eight exits, besides hiring a record 24 executives across investing, origination; diversity, equity and inclusion; capital markets; and value creation.

In 2022, LLR’s portfolio investments have included Allmark Door, ParkHub, Mortgage Coach, Sales Boomerang, RealTime and Quantum Workplace.

Sigal Praised for Upholding ‘Core Values’

Sigal, the analyst who oversaw LLR’s investment in Vantage Point, has been at the firm for over a decade. Prior to joining LLR, he worked in investment banking at Bank of America Merrill Lynch. In August, he — along with Ryan Goldenberg and Michael Pantilione — was promoted as partner at LLR.

“Ryan, Mike and Zack have been leaders at LLR since long before this exciting milestone,” said Scott Perricelli, a partner at LLR Partners, adding that “all three individuals are standout representatives of LLR’s core values.” Those values include “our culture of curiosity, mentoring teams with a growth mindset, and demonstrating our commitments to service and inclusion through example,” Perricelli said.

Sigal is part of LLR’s healthcare and education investment teams. His current and former board roles include Edlio, IO Education, Kemberton, LEARN Behavioral, MedBridge, Physicians Immediate Care, RealTime, Suvoda and TrueLearn.

Bringing SaaS Gains to Healthcare

VPL was started in 2011 by CEO Eric McGlade, a supply chain management expert, and Chief Innovation Officer Scott Crow, a technology consultant. The company’s  “smart” supply-chain software is run from the cloud. The so-called SaaS model brings unique and significant productivity and other gains to the healthcare industry, like it has in other sectors. Vantage Point has built several custom modules, such as Surpass for inbound freight, Traject and TrajectRx for outbound shipping, View for tracking and tracing, and Percept enhanced analytics solutions. When integrated, the platform enables unprecedented coordination and collaboration between healthcare suppliers, providers and patients.

With more than 6,000 suppliers, VPL pursues growing opportunities to streamline critical access and non-acute facilities and pharmacy, besides larger hospitals and integrated delivery networks. Recently, the company added a number of standalone hospitals to its list of customers. They include Edgerton Hospital, Excelsior Springs, Prairie Ridge Health and St. Luke’s Community Healthcare in Kansas. Via its TrajectRx pharmacy solution, Vantage also signed up Mandell’s Pharmacy.

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Besides helming Vantage Point, McGlade serves as the company’s chief strategy officer.

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A 25-year industry veteran, he brings deep expertise in supply chain, freight management, consulting and finance. He, along with an older business partner, is credited with introducing the concept of freight management in healthcare more than 20 years ago. McGlade is a graduate of Temple University with a B.A. in Accounting.

Crow was a founding member of HLS MedFreight, a pioneer in freight management systems for the healthcare sector, before cofounding Vantage. He holds a B.S. in Management Information Systems and an MBA from Ohio State University’s Fisher College of Business.