Sheridan Legacy Group has sold Diamondback Drugs, a veterinary compounding pharmacy, to Tailwind Capital.
Diamondback serves veterinary clinics, veterinary hospitals, zoos, aquariums, research institutions, and individual pet owners. The company has an extensive pharmaceutical product line ranging from ophthalmic preparations to cancer treatment solutions. Diamondback is headquartered in Scottsdale, AZ (www.diamondbackdrugs.com).
“Sheridan’s investment allowed us to build upon our core strength of offering quality, customized products to pet owners and veterinarians, further extend our offering, and improve our operations while continuing to deliver outstanding service,” said Michael Blaire, Chief Executive Officer at Diamondback. “As a result of our partnership with Sheridan, Diamondback is well-positioned to grow its leading market share and to continue to deliver critical medications for pets.”
Sheridan Legacy Group makes investments of $10 million to $30 million in leveraged buyouts, recapitalizations and large minority financings of lower middle market companies with enterprise values between $20 million and $150 million. Sectors of interest include healthcare and consumer. The firm was founded in 2012 by Jonathan Lewis and Michael Allietta and is headquartered in Chicago (www.sheridanlegacy.com).
Tailwind Capital makes investment of $25 million to $100 million in middle market companies in the healthcare and business & communications services sectors. The firm is currently making investments out of its inaugural $775 million fund raised in 2009. Tailwind Capital is based in New York (www.tailwind.com).
Deloitte Corporate Finance was the exclusive financial advisor to Diamondback Drugs.
2014 PEPD • Private Equity’s Leading News Magazine • 12-18-14