Capstone Partners has advised Tricore, a provider of learning products to pharmaceutical and life sciences companies, on its recent sale to Dowden Medical Communications Group, a portfolio company of High Road Capital Partners.
Managing Director Eric Williams and Director Mark Surowiak led the transaction team for Capstone. Messrs. Williams and Surowiak are based in Capstone’s Philadelphia office.
“Tricore has clearly established itself as a leader in the learning and development sector capable of delivering unique end-to-end learning solutions to meet the sales training, marketing and compliance education needs of its clients,” said Mr. Williams. “Corporations are increasingly recognizing the benefits of virtual learning and eLearning including enhanced content retention, rapid skill development, reduced travel and housing costs, and greater employee flexibility.”
Tricore is a provider of educational, marketing, and training products used by pharmaceutical and life science companies. The company was founded in 1994 and is based in Princeton, NJ (www.tricoreinc.com).
“We expect to see a strong level of M&A activity in the training and education industry in the coming years,” said Mr. Surowiak. “Companies that offer superior learning solutions that combine e-learning and interactive multimedia, subject matter expertise, and proprietary content that is deliverable globally are especially attractive to buyers and investors.”
Capstone is a middle market investment banking firm that provides mergers & acquisitions, private placements, corporate restructuring, valuation advisory, and merchant banking services. In addition to these transaction and financial advisory services, Capstone offers private equity firms, commercial lenders and private businesses with a range of strategic advisory services that are typically utilized for either pre-planning or assessment purposes. The firm is headquartered in Boston with additional offices in Chicago, Philadelphia, Los Angeles, San Diego and Silicon Valley (www.capstonellc.com).
The acquisition of Tricore is the second add-on acquisition for Dowden Medical. In November 2012, the company acquired QD Healthcare Group, a provider of scientific content development, promotional medical education and marketing services to the pharmaceutical and biotechnology industries.
High Road Capital Partners acquired Dowden Medical in December 2010. The company provides scientific content development, promotional medical education and related marketing services to the pharmaceutical and biotechnology industries. Dowden Medical is headquartered in Montvale, NJ (www.dowdenhealth.com).
High Road Capital Partners invests in manufacturing, service, or value-added distribution businesses with revenues of $10 million to $100 million and EBITDAs of $3 million to $10 million. High Road was formed in 2007 and currently manages over $150 million of committed capital. The firm is based in New York (www.highroadcap.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-7-13
