Lower middle market healthcare private equity firm
Havencrest Capital Management
- HeadquartersDallas, TX S1
- Founded2018 S2
- Websitehavencrest.com
- Last verifiedNovember 2, 2026
At a glance
| Assets under management | $600M (as of Apr 2026) S7 |
|---|---|
| Latest fund | Havencrest Healthcare Partners II, $356M (Apr 2022) S6 |
| EBITDA range | $3M to $15M S3 |
| Deal types | Platform, Add-on, Minority, Growth S3 |
| Geography | United States S6 |
| Sectors | Healthcare Services |
What Havencrest Capital Management buys
Havencrest Capital Management is a Dallas private equity firm, founded in 2018, that invests only in US healthcare companies, usually founder-led ones. It looks for companies with $3 million to $15 million of EBITDA and enterprise values of $25 million to $250 million, for both new platforms and add-ons. It can buy control or a non-control stake, recapitalize a business, or put in growth equity. Its target areas are behavioral health, post-acute care, physician-led practices, healthcare services, pharma services, medical products, payor services and tech-enabled services. The firm manages more than $600 million and invests from its $356 million second fund, closed in 2022.
Havencrest grows its platforms through tuck-in acquisitions. Avid Health at Home, its non-medical home care platform, completed its eighth tuck-in in July 2026. In April 2026 the firm led a majority recapitalization of OFFOR Health, which provides anesthesia for complex children's dental work in the dentist's office. A smaller home care, behavioral health or specialty provider is most likely to meet Havencrest as an add-on to one of its platforms.
Recent deals
Announced in the 24 months before November 2, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jul 2026 | Tech Medical Home Care ServicesEighth tuck-in for Avid Health at Home, adding home care in Kentucky and Ohio | Add-on | Healthcare Services | Source |
| Apr 2026 | OFFOR HealthMajority recapitalization of a Columbus, Ohio provider of office-based anesthesia for complex pediatric dental procedures | Platform | Healthcare Services | Source |
| May 2025 | Paradigm HealthMajority exit from the Indianapolis hospice and palliative care provider, backed since 2021 | Exit | Healthcare Services | Source |
| Apr 2025 | Home Care Angels and Private Duty Home HealthcareSixth and seventh tuck-ins for Avid Health at Home, in the Chicago area and Michigan | Add-on | Healthcare Services | Source |
| Dec 2024 | Sandhills Home CareFifth tuck-in for Avid Health at Home, a North Carolina home care provider | Add-on | Healthcare Services | Source |
Portfolio by sector
From the firm's portfolio page S4.
Current
- Apara Autism Centers
- Avid Health at Home
- Deep Centered Mental Health
- Effective School Solutions
- Focus Staff
- OFFOR Health
- Tekton Research
- ThermoTek
Past investments: Paradigm Health, The Oncology Institute of Hope and Innovation (TOI)
Greymont’s take
How Havencrest Capital Management fits a seller
Havencrest suits the founder of a healthcare services business who wants an investor that does nothing but healthcare and brings operating help. The firm lists 31 operating partners and grows its companies through acquisitions, which makes it a natural buyer for home care agencies, behavioral health practices and similar providers that could join an existing platform such as Avid Health at Home. Its structures run from majority recapitalizations, as with OFFOR Health, to non-control deals and growth equity, so an owner does not have to sell everything at once.
Its second fund closed in April 2022, and it sold its majority stake in Paradigm Health in May 2025 after about four years. An owner should ask whether a new deal would be funded from Fund II or a newer vehicle, how much equity the owner is expected to roll over, and how long Havencrest expects to hold before the next sale.
Questions owners ask
What size healthcare companies does Havencrest invest in?
Its criteria call for $3 million to $15 million of EBITDA and enterprise values between $25 million and $250 million, for both platform and add-on acquisitions.
Does Havencrest buy home care agencies?
Yes. Its Avid Health at Home platform has made eight tuck-in acquisitions of home care providers, most recently Tech Medical Home Care Services in Kentucky and Ohio in July 2026.
Does Havencrest need majority control?
No. Its criteria list control and non-control buyouts, recapitalizations and growth equity. Its April 2026 OFFOR Health deal was a majority recapitalization.
How much capital does Havencrest manage?
It reported more than $600 million of assets under management in April 2026, and it invests through Havencrest Healthcare Partners II, a $356 million fund that closed at its hard cap in April 2022.
Sources
- S1Havencrest Capital Management home page Accessed November 2, 2026
- S2Havencrest: About Accessed November 3, 2026
- S3Havencrest: Investment Criteria Accessed November 3, 2026
- S4Havencrest: Investments (current and former) Accessed November 3, 2026
- S5Havencrest: News Accessed November 3, 2026
- S6Havencrest Capital Management Closes $356 Million Fund II at Hard Cap (April 7, 2022) Accessed November 3, 2026
- S7Havencrest Completes Majority Recapitalization of OFFOR Health (PR Newswire, April 9, 2026) Accessed November 3, 2026
- S8Avid Health at Home Completes 8th Acquisition (PR Newswire, July 7, 2026) Accessed November 3, 2026
- S9Havencrest Announces Successful Majority Exit from Paradigm Health Investment (May 12, 2025) Accessed November 3, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Havencrest Capital Management. Figures are as reported on the dates shown and may have changed. Request a correction