Yukon Partners has provided subordinated debt and equity to support the acquisition of Schryver Medical by Revelstoke Capital Partners. The management team of Schryver will continue to own a minority interest in the company.
“We are once again excited to be partnering with the Revelstoke team. Their hands-on approach and experience within the healthcare industry are attributes we greatly value,” said Michael Hall, Managing Partner of Yukon. “We are confident that with Revelstoke’s leadership alongside the strong reputation, operational expertise, and industry experience of the company’s senior management team, Schryver will continue its impressive track record of growth.”
Schryver Medical is a provider of mobile imaging diagnostics, clinical laboratory services, oxygen therapy and durable medical equipment rental. The company serves nearly 2,000 long term post-acute facilities, assisted-living centers, and skilled nursing facilities, as well as numerous homecare patients. The company has approximately 400 employees and is headquartered in Denver (www.schryvermedical.com).
Yukon Partners makes subordinated debt and equity investments of $10 to $40 million in middle market, private equity sponsored business transactions. The types of transactions that Yukon invests in includes buyouts, growth and platform strategies, recapitalizations, mergers & acquisitions, public to private buyouts, and refinancings. The firm is based in Minneapolis (www.yukonpartners.com).
“We are excited to partner with the Schryver Medical team to support the company’s continued growth in the mobile imaging and laboratory diagnostics market,” said Mark King, Managing Partner and CEO of Revelstoke. “We believe that the Schryver platform represents a compelling opportunity to invest in a differentiated service provider to the long term post-acute setting and are confident in the management team’s ability to further solidify its position as a leader in the industry. Schryver is well-positioned to accelerate its organic growth as well as pursue acquisitions that will further expand its service offerings and geographic coverage.”
Revelstoke invests from $10 million to $250 million in companies that have at least $5 million of EBITDA. Sectors of interest include healthcare services and products, including life sciences; transportation and logistics; specialty distribution; energy and energy services; building products; business and outsourced services; marketing services; financial services, including insurance; industrial services; and medical technology. The firm was founded by Managing Partners, Mark King, Dale Meyer, and Simon Bachleda and is headquartered in Denver (www.revelstokecp.com).
Revelstoke will provide Schryver strategic guidance and additional capital to accelerate its organic growth, pursue selective acquisitions, and continue to leverage its scalable business model.
Senior credit financing for this acquisition was provided by Ally Corporate Finance.
2014 PEPD • Private Equity’s Leading News Magazine • 7-18-14