Kinderhook Industries announced today the sale of Robertson Piper Software Group and its main subsidiary Opus-ISM, a provider of pharmacy management systems, to strategic buyer Lagniappe Health, a portfolio company of Calvert Street Capital Partners. Robertson Piper has been a portfolio company of Kinderhook Industries since 2009. The sale represents a return on invested capital of over 1.6x for Kinderhook.
Opus-ISM is a national provider of pharmacy management systems, POS software and related solutions and services to all types of pharmacies including: retail, managed and long-term care, HMO, outpatient hospital, nursing homes/facilities and other institutions. Opus-ISM has been in business for over 35 years and currently provides services to over 1,100 customer locations. The company is based in Pine Brook, NJ (www.opus-ism.com).
Kinderhook Industries is a manager of private equity funds with $770 million of committed capital. Kinderhook primarily makes control investments in companies with transaction values of $25 million to $100 million in which the firm can achieve financial, operational and growth improvements. Kinderhook pursue private equity investments in non-core divisions of public companies, management buyouts of entrepreneurial-owned businesses, troubled situations and existing small capitalization companies lacking institutional support. The firm is located in New York, NY (www.kinderhook.com).
“The sale of Opus demonstrates Kinderhook’s investment strategy of partnering with strong management teams and building successful companies that attract strategic buyers,” said Chris Michalik, Managing Director at Kinderhook.
Raymond James & Associates and New Century Capital Partners served as financial advisors to Robertson Piper Software Group.
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-11-12
