The Atlanta private equity firm MSouth Partners is establishing a new office in Brentwood.
David “Buddy” Bacon, the former COO of the Brentwood-based physician practice management firm American Physician Partners, will lead the new office. Bacon has also worked in a business development role for Nashville-baed CapStar Bank, and started his career with Brentwood-based LBMC.
According to the The Nashville Business Journal, which first reported the move, MSouth would be the largest private equity firm measured by assets under management.
MSouth hopes to expand its presence in the Southeast. According to a press release, MSouth Partner Mike Long said the company chose the Nashville area because it’s looking to invest more in health care and because of “a vibrant economy, low cost of living and doing business, and a well-educated talent pool.”
“Private equity is a relationship-oriented business,” Bacon, according to a statement. “I look forward to working within the Nashville business community and building new connections to identify strategic opportunities to bring value to businesses seeking managerial expertise and growth.”
MSouth was founded in 2007—though it’s a successor to Cravey, Green & Wahlen founded in 1984—and manages $2.2 billion across four funds. The firm targets acquisitions of companies worth $25 million to $75 million. MSouth has a geographic emphasis on the South and focuses on investing in business services, health care services, media and telecommunications, niche manufacturing and specialty distribution companies.