Baird Capital has made a “significant” investment in Milwaukee-based Alpha Source, a medical equipment solutions provider. In addition to the investment, Michael Bernstein and Fred Robertson of Baird Capital have been appointed to Alpha Source’s board of directors. Also, the company has named Rick Lytle as CEO.
MILWAUKEE, April 20, 2015 – Baird Capital, the direct private investment arm of Robert W. Baird & Co., announced today that its U.S. Private Equity group has made a significant investment in Alpha Source, a leading medical equipment solutions provider. As part of the transaction, Baird Capital Partner Michael Bernstein and Operating Partner, Fred Robertson, will join the Alpha Source board of directors.
Headquartered in Milwaukee, Alpha Source is a leading provider of innovative solutions for medical equipment maintenance & service, medical device battery manufacturing and medical equipment parts distribution to thousands of customers in more than 74 countries around the world.
“Alpha Source is one of the fastest growing companies in the U.S. because they are constantly forging new directions in the delivery of innovative, efficient and quality healthcare equipment solutions,” said Bernstein. “We are excited to partner with the Alpha Source team and support the business as it continues its expansion in the market.”
In addition, Rick Lytle has joined Alpha Source as Chief Executive Officer. Lytle is a seasoned executive with more than 20 years of experience in global healthcare products and services. Founder and co-owner, Norine Carlson-Weber continues to manage the operations of Alpha Source as the Chief Operating Officer.
“Alpha Source has an outstanding track record of providing quality parts and service to its many healthcare customers around the world and I am energized about opportunities for growth in the near future,” said Lytle.
“Our strategic partnership with Baird Capital will support the continued growth of Alpha Source’s core medical parts and battery business, while focusing on the continued rapid growth of our services business,” said Carlson-Weber.
About Alpha Source, Inc.
Located in Milwaukee, Wisconsin, Alpha Source, Inc. provides innovative solutions in procurement and logistics for healthcare customers around the world. Established in 1986, Alpha Source is an ISO13485:2003 certified medical device manufacturer with an emphasis on batteries and electronic components. Alpha Source has been one of the INC 5000 fastest growing companies for the past five years. Alpha Source distributes multi-vendor service parts and accessories for all modalities and has national field service for Ultrasound equipment. For a complete list of products and services, visit www.alphasource.com or call 800-654-9845.
About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Since 1989, Baird Capital’s U.S. Private Equity group has invested in growing and profitable lower-middle-market companies in the Technology & Services, Healthcare, and Products sectors. Having invested in more than 285 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in Asia, a proactive portfolio operations team and a deep network of relationships which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit www.BairdCapital.com.