Southfield Capital has sold BioPharm Communications to Omnicom Health Group. Southfield Capital acquired BioPharm in 2012 in partnership with the company’s two founders, Jeff Persinger and Daniel Egeland. No financial information was made available but Southfield characterizes the sale as a very successful exit.
BioPharm develops promotional medical education programs for customers in the pharmaceutical and biotechnology industries. The company’s delivery channels include targeted direct mail; e-mail; web hosting; web banners; mobile devices; selling kits for sales specialists; convention distribution; dinner meetings; and teleconferences. BioPharm was founded in 2005 and is headquartered north of Philadelphia in New Hope, PA (www.biopharmcommunications.com).
During Southfield’s ownership term the company expanded its service offerings and grew its sales organization. “Southfield was a fantastic partner, not only from a financial perspective but also from a strategic standpoint, and the Southfield team made significant contributions to our growth over the past four years,” said Jeff Persinger, President and CEO of BioPharm.
Southfield Capital provides capital for majority recapitalizations and management-led buyouts of lower middle-market businesses. The firm makes control investments of $10 million to $40 million of equity in transactions with $20 million to $100 million of enterprise value. Typical target companies will have from $4 million to $12 million of EBITDA. Sectors of interest include: business services; consumer products & services; distribution & fulfillment; energy; healthcare; media & entertainment; niche manufacturing; power & infrastructure; specialty finance; and specialty retail. Southfield Capital was founded in 2005 as the successor company to the private investment firm Levison & Company and is headquartered in Greenwich, CT (www.southfieldcapital.com).
Omnicom Health Group (OHG), headquartered in New York, is one of the largest healthcare marketing and communications groups in the world (www.omnicomhealthgroup.com). OHG is part of Omnicom Group (NYSE:OMC) which provides advertising, marketing, and corporate communications services worldwide (www.omnicomgroup.com).
Petsky Prunier (www.petskyprunier.com) was the financial advisor to BioPharm and Finn Dixon & Herling (www.fdh.com) provided legal counsel.
© 2016 Private Equity Professional • 6-14-16
