Silver Oak Sells NDC to Court Square
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Silver Oak Sells NDC to Court Square

ndc nf1Silver Oak Services Partners has completed the sale of NDC, a healthcare products distributor it purchased in February 2010, to Court Square Capital Partners.

ndc nf11NDC is a distributor of branded and private label medical supplies to the healthcare industry. NDC operates as a master distributor, purchasing medical supplies directly from manufacturers and providing a broad product line to local, regional, and national distributors who handle the last mile of delivery to health care providers. NDC serves more than 1,400 distributors and nearly 400 healthcare manufacturers. The company has over 180 employees and operates two warehouses in La Vergne, TN and Sparks, NV. NDC is headquartered in Nashville (www.ndc-inc.com).

During Silver Oak’s ownership, NDC completed two add-on acquisitions with the buys in April 2012 of Motion 1 – a buying group of distributors serving the physical therapy and rehabilitation market; and in April 2015 with the acquisition of Main Street Vaccines – a provider to physicians of group contracts with vaccine manufacturers.

greg barr nf1“We are extremely proud of our partnership with the NDC management team,” said Greg Barr, Managing Partner at Silver Oak.  “They have done an outstanding job of driving significant top and bottom line growth over the last six years. With a strong management team and proven value proposition in the market, the company is well positioned for continued growth.”

Silver Oak Services Partners makes control investments of $10 million to $30 million in companies with revenues from $15 million to $150 million and EBITDAs from $3 million to $20 million. As the firm name implies, sectors of interest include business, healthcare, and consumer services.  Silver Oak was founded in 2005 and is based in the Chicago suburb of Evanston (www.silveroaksp.com).

“Silver Oak has been an excellent partner. With their active support and guidance, we experienced significant growth while enhancing the value we bring to our business partners,” said Mark Seitz, CEO of NDC.

Court Square Capital Partners, the buyer of NDC, invests in middle market companies that are active in the business services, general industrials, healthcare, and technology/telecommunications sectors. Court Square currently manages approximately $5 billion of capital and is based in New York (www.courtsquare.com).

William Blair (www.williamblair.com) was the financial advisor to NDC and Silver Oak and Locke Lord (www.lockelord.com) provided legal counsel.

© 2016 PEPD • Private Equity’s Leading News Magazine • 2-4-16

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