Cascadia Capital Continues to Grow with Expansion into Nashville
October 6, 2021
Cascadia Capital, an investment bank serving middle market clients globally, continues its growth with an expansion into the Nashville market and addition of a dedicated local team covering healthcare services. This move adds to the firm’s industry depth and national coverage. Moreover, Cascadia’s healthcare team has grown significantly, and we view the expansion as a deepening of a core focus area within one of our most active practice groups.
Nashville is one of the nation’s most diverse and robust economies, and home to a multitude of middle market businesses and a thriving investor community, particularly within healthcare. The Middle Tennessee healthcare industry alone generates more than $92 billion in revenue and more than 570,000 jobs*. Coined the healthcare capital of the U.S., Nashville is a nexus of healthcare companies and investors, with tremendous innovation and a broad network of top industry players. Having boots on the ground in Nashville will allow us to better support our healthcare clients nationwide and globally.
Cascadia’s Nashville presence will be led by Vice President Vitaliy Marchenko, with a focus on expanding Cascadia’s healthcare services coverage, capitalizing on the firm’s recent transactions in women’s health and fertility and behavioral health, as well as expanding efforts within other physician practice management areas.
Since its formation, Cascadia’s healthcare practice has become a pillar of the firm’s evolution to industry centric, deep domain investment banking, having closed more than 45 transactions. The team has had the privilege of supporting over a dozen healthcare clients in the last 12 months in capital raising, buy and sell-side M&A processes. Eight of those transactions were completed in 2021.
“With all of this activity and the record hot M&A and capital markets, Cascadia is investing in growing and expanding its healthcare team for the benefit of our partners and clients,” noted Michael Butler, Cascadia Capital Chairman and CEO. “Our team in Nashville creates a dedicated local presence in a large and established market that has shown significant opportunity for the firm across the industries we serve.”
“Nashville is an ideal location for both the firm’s overall expansion and as a base for our growing healthcare services coverage,” added Kevin Cable. “The cumulative pooling of health-related innovation, talent and entrepreneurship has a compounding effect of attracting more healthcare expertise and driving new business creation and partnership. Cascadia can naturally add value to that ecosystem through our client-centric advisory work.”
Cascadia recognized a similar market concentration of medical device companies in Minneapolis, where the firm has had an office since 2015. In 2020, we welcomed Managing Director Adam Stormoen to lead the Minneapolis branch – bringing with him over 20 years of investment banking experience with medical device companies.
“We are mapping the deep industry vertical expertise on our team to geographies that are strategic to those sectors, as we believe that allows us to meet the growing needs of the industry’s players and create the most value for business owners and entrepreneurs,” added Mr. Butler.
Other markets that Cascadia is eyeing as possible expansion opportunities include Pittsburgh, Austin, and Raleigh-Durham.
* Source: Forbes, April 12, 2021: Nashville Is The Health Services Capital – Here’s Why This Explosively Growing Region Is More Than Music City USA.