13 Oct Boston venture firm invests in Madison consultant firm Nordic
Nordic Consulting, the fast-growing Madison health IT consultant company, says it has received an investment from Silversmith Capital Partners, a Boston equity firm.
Nordic won’t say how much money Silversmith is providing. But according to the Boston firm’s website, since Silversmith finalized its $460 million fund in 2015, it has funneled money into five other companies, with investments ranging from $17 million to $50 million. Two of those companies went on to acquire other businesses shortly after the Silversmith infusion.
When Silversmith Capital Partners was formed, its initial news release said the firm planned to invest $15 million to $50 million per company “with the ability to increase the equity commitment in select situations.”
Nordic called the Silversmith funding “a minority recapitalization,” in a news release, and said the new money will let Nordic “continue to expand and diversify, both organically and via Nordic’s potential acquisition of other firms, the services it provides to healthcare organizations.”
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