Madison Dearborn Has Sage Wisdom

Madison Dearborn Partners has completed its purchase of Sage Products, a healthcare products maker. Specifics on the transaction—other than Sage’s anticipated 2012 revenue of $290 million—were not publicized. Barclays Plc led the financing on the deal and BofA Merrill Lynch provided financial advice to the buyer.

PRESS RELEASE:
CARY, ILL. – Dec. 13, 2012 – Madison Dearborn Partners announced today that it has completed its previously announced purchase of Sage Products Inc., a leading healthcare products manufacturer with expected 2012 sales revenues of approximately $290 million. Sage employs more than 700 associates and maintains a portfolio that includes innovative infection prevention and patient safety products for the entire healthcare continuum. Sage’s existing management team will continue to own a significant portion of the company.
Sage will continue to operate under the same name while providing the same high quality products and exceptional service its customers have come to expect. Vincent Foglia will remain Chairman of the Board. D. Scott Brown, a 31-year Sage veteran, has been named Chief Executive Officer and Vice Chairman of the company. Sage will continue to be headquartered in and operate from its Cary, Illinois facility.
Madison Dearborn will work with Sage’s leadership team to capitalize on what they believe are numerous and attractive growth opportunities for the company worldwide. These include helping Sage increase its penetration within the U.S. hospital market, expand its presence internationally and continue to develop and bring to market innovative products. 

During the acquisition process, Evercore Partners served as Sage’s financial advisor while Madden, Jiganti, Moore & Sinars LLP and Winston & Strawn LLP provided the company with legal counsel. Barclays Plc led the debt financing related to the transaction along with Bank of America Corp., Citigroup Inc. and Deutsche Bank AG. BofA Merrill Lynch served as financial advisor and Kirkland & Ellis LLP provided legal counsel to Madison Dearborn. No additional terms of the sale were disclosed. 



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