Pamlico Capital has sold its portfolio company Physicians Endoscopy to Kelso & Company. Guidon Partners is co-investing alongside Kelso & Company on this transaction. Physicians Endoscopy was acquired by Pamlico Capital from Silver Oak Services Partners in August 2013.
Physicians Endoscopy (PE) is a developer and manager of freestanding, single-specialty endoscopic ambulatory surgery centers in partnership with practicing physicians and hospitals. The company currently owns and manages 42 facilities (up from 29 at acquisition) across the United States, in partnership with over 300 gastroenterologists and eighteen hospitals (up from 8 at acquisition). PE was founded in 1998 and is headquartered near Philadelphia in Jamison, PA (www.endocenters.com).
“We are very grateful to the Pamlico team for all that they have done to help us grow,” said Barry Tanner, PE’s CEO. “They have allowed us to stay focused on helping physicians deliver high-quality care in the most patient friendly and cost effective setting. Our partnership with Pamlico has been absolutely wonderful.”
Pamlico Capital invests from $25 million to $100 million in companies with total enterprise values of between $50 million and $250 million. Sectors of interest include business and technology services, communications, and healthcare. Pamlico was founded in 1988 and is based in Charlotte (www.pamlicocapital.com).
“Kelso is thrilled to be partnering with Barry Tanner and his team. Physicians Endoscopy has an unparalleled reputation as a value-added partner to GI physicians, and we look forward to supporting the company’s continued growth and success,” said Hank Mannix, a Partner at Kelso.
Kelso is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has made investments in over 115 companies in a range of industry sectors. The firm is currently investing out of its eighth fund – Kelso Investment Associates VIII, LP – with $5.1 billion of capital. Kelso was founded in 1971 by Louis Kelso and is based in New York (www.kelso.com).
Guidon Partners, a co-investor on this transaction, was founded in November 2014 by fourteen senior health care executives to make co-investments alongside venture, growth equity and buy-out funds. The firm is based in Reston, VA (www.guidonpartners.com). As part of its co-investment, Guidon has appointed Greg Roth – a founder and partner of the firm and the former CEO of TeamHealth (a provider of physician staffing services (NYSE: TMH)) – to the Physicians Endoscopy board of directors.
© 2016 Private Equity Professional • 8-24-16