medical

Riverside Acquires Future Medical

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Specialized Medical Services, a portfolio company of the Riverside Company, has acquired Future Medical, a provider of rental respiratory equipment. The acquisition of Future Medical expands upon the company’s position as the largest provider of respiratory equipment, oxygen and related products and services to nursing homes and hospices throughout the U.S.

Future Medical is a provider of rental respiratory equipment, liquid oxygen and related services to nursing facilities in 13 Midwestern and Southeastern states. The company was founded in 1998 and is based in Waterford, MI (www.futuremedicalinc.com).

“This acquisition adds an excellent customer base and outstanding facilities,” said Riverside Managing Partner Loren Schlachet. “Future Medical allows SMS to seamlessly enter some new markets while strengthening its already impressive national position.”

Specialized Medical Services (SMS) provides respiratory equipment, oxygen and related products and services to nursing homes and hospices throughout the U.S. Services provided include respiratory equipment, comprehensive oxygen services, disposable supplies, along with clinical, billing and consulting services. The company’s client base covers more than 40 states and 2,000 facilities, including 12 of the 20 largest nursing home chains in the country. The company is based in Milwaukee, WI (www.specializedmed.com).

Riverside Principal Jack Nestor said that this transaction will benefit customers of SMS. “SMS now offers services in more than 40 states for approximately 2,000 facilities,” said Mr. Nestor. “Customers are increasingly turning to larger providers like SMS because of its ability to provide comprehensive services that combine standard oxygen and equipment needs with superior clinical support.”

Working with Mr. Schlachet and Mr. Nestor on the transaction for Riverside were Operating Partner Dave Logan, Assistant Vice President Dan Haynes, Associate Grady McConnell, and Finance Director Dave Pecore.

PNC and Medley Capital provided financing for the transaction, Jones Day was Riverside’s legal counsel, and Deloitte & Touche advised Riverside on financial due diligence.

The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $200 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in 295 transactions with a total enterprise value of more than $6 billion. The firm is headquartered New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).

© 2012 PEPD • Private Equity’s Leading News Magazine • 9-24-12

Thompson Street Capital Partners Acquires Allied 100

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It was announced today that Thompson Street Capital Partners has acquired Allied 100, a distributor and on-line retailer of automated external defibrillators.

Allied 100 is a value added distributor and on-line retailer of automated external defibrillators (“AEDs”), AED supplies, accessories and complementary products. The company is based in Woodruff, WI (www.AEDSuperstore.com).

Greene Holcomb & Fisher served as the exclusive financial advisor to Allied’s owners in the transaction. “We worked closely with the owners to find the right partner for the business, and believe Thompson Street will be outstanding,” said Brian Holcomb, Managing Director at Greene Holcomb & Fisher.

Thompson Street Capital Partners makes investments in manufacturing, service and distribution businesses with annual revenues between $20 million and $200 million, and a minimum EBITDA of $5 million. Thompson Street partners with management in recapitalizations, management buyouts, corporate divestitures, family businesses in transition and take-private transactions. The firm was founded in 2000 and is based in St. Louis, MO (www.tscp.com).