CHARLOTTE, N.C., June 08, 2016 (GLOBE NEWSWIRE) -- Private investment firm Mosaic Capital Partners, LLC (“Mosaic”) is pleased to announce that its fund, Mosaic Capital Investors I LP, has provided $10 million of subordinated debt to ADG Acquisition Holdings, Inc. (“ADG” or the “Company”). ADG, a leading provider of MRI, X-ray and other imaging services throughout Florida, recently implemented an Employee Stock Ownership Plan (“ESOP”). Mosaic’s investment in ADG will augment the Company’s plans for continued growth and further support its newly formed ESOP.
Kevin Johnson, President and CEO of ADG, explained, “Mosaic’s deep expertise and experience working with ESOP companies made them the perfect financial partner for ADG as we continue growing our Company.”
Mosaic Managing Partner, Steve Buchanan, commented, “Kevin, the management team and the employees of ADG have a proven track record of providing the highest quality imaging services to their patients throughout Florida. We were impressed to see a forward-thinking management team that understood the need for flexible and diverse capital sources. We are honored to support their growth and be part of their team.”
About Advanced Diagnostic Group
Advanced Diagnostic Group is a leading provider of MRI and X-ray as well as other imaging services throughout Florida. The Company has locations in Tampa, Lakeland, Orlando, Kissimmee, Jacksonville, Orange Park, Brandon, Palm Beach Gardens and Jupiter.
About Mosaic Capital Partners, LLC
Mosaic Capital Partners, LLC (“Mosaic”) is a private investment firm providing mezzanine debt and equity to privately held lower middle market companies looking to drive value and growth. Based in Charlotte, NC, Mosaic employs traditional private equity buyout strategies while also applying the partners’ unique expertise in Employee Stock Ownership Plans (ESOPs). Mosaic aims to help business owners achieve liquidity, wealth transfer and ownership transition goals by offering capital and strategic guidance.