BBH Capital Partners (BBHCP) has sold its ownership interest in KabaFusion, a provider of acute and specialty home infusion services, to Pritzker Private Capital. BBHCP is a private equity fund sponsored by Brown Brothers Harriman & Co.
KabaFusion operates seven fully accredited specialty pharmacies located in California, Florida, Illinois, Massachusetts, New Jersey, Pennsylvania and Texas and serves patients with a range of acute and chronic conditions in more than 40 states, specializing in intravenous immunoglobulin (IVIG) and other infusion therapies.
KabaFusion was founded by Dr. Sohail Masood and is headquartered in Cerritos, CA (www.KabaFusion.com).
BBHCP invested in KabaFusion in September 2014 in partnership with Dr. Masood and other members of the company’s senior management team. The recapitalization included growth capital to allow for the pursuit of organic and inorganic growth opportunities.
“We enjoyed working closely with KabaFusion over the past four years,” said Bradley Langer, a managing director at Brown Brothers Harriman and a co-manager of BBHCP. “Dr. Masood and KabaFusion’s management team are highly experienced, proven executives in specialty home infusion and they have been fantastic partners. They have built a business of scale that continues to focus first and foremost on providing high-quality care to their patients. We greatly respect what the team has accomplished and look forward to watching them continue to grow their business in the coming years.”
“We couldn’t be more pleased with our partnership with BBHCP,” said Dr. Masood. “As a founder-owned business, we were very careful in selecting our first equity partner. BBHCP has a focus on founder-owned companies and is a longtime, experienced healthcare investor that had a true understanding of our business and industry. BBHCP and its operational resources group spent considerable time working with our team to help accelerate revenue growth and improve margins.”
BBHCP makes control and non-control investments between $30 million and $125 million per platform to support management or leveraged buyouts, growth financings, recapitalizations (including dividend recapitalizations), buy-and-build strategies and acquisitions. The group’s investments are structured as a combination of equity and subordinated debt. BBHCP is based in Boston. Click HERE for the BBHCP website.
PPC Partners, the buyer of KabaFusion, acquires North America-based middle-market companies that have enterprise values between $100 million and $750 million and EBITDA in excess of $15 million. Sectors of interest include manufactured products, services and healthcare. PPC Partners has offices in Chicago and Los Angeles (www.PPCPartners.com).
Houlihan Lokey (www.HL.com) was the financial advisor to KabaFusion.
This transaction was previously reported on January 24, 2019 as Pritzker Acquires KabaFusion.
© 2019 Private Equity Professional | January 30, 2019