Silver Oak Services Partners has sold its stake in NDC to Court Square Capital Partners. No financial terms were disclosed. Nashville-based NDC is a healthcare supply chain company and distributor of consumable medical supplies. William Blair and Locke Lord LLP provided financial advice on the transaction.
Evanston, IL, February 3, 2016 – Silver Oak Services Partners, LLC, a leading lower-middle market private equity firm focused exclusively on business, healthcare and consumer services companies, announced today that it has completed the sale of its equity interest in NDC to New York-based private equity firm Court Square Capital Partners.
Headquartered in Nashville, TN, NDC (“the Company”) is a leading healthcare supply chain company and distributor of consumable medical supplies. The Company operates as one of the largest master distributors in healthcare, purchasing supplies directly from manufacturers and providing a broad product line to distributors who handle the last mile delivery direct to health care providers. The Company serves as a vital partner delivering supply chain efficiency to manufacturers, GPOs and national, regional and local distributors. NDC has over 180 employees and operates distribution centers in Tennessee and Nevada.
Silver Oak made its original investment in NDC in February 2010. During Silver Oak’s ownership, NDC completed two acquisitions, strengthened its management team, expanded its product portfolio, upgraded its technology platform and launched new service offerings.
“We are extremely proud of our partnership with the NDC management team,” said Greg Barr, Managing Partner at Silver Oak. “They have done an outstanding job of driving significant top and bottom line growth over the last six years. With a strong management team and proven value proposition in the market, the Company is well positioned for continued growth.”
Mark Seitz, CEO of NDC, noted, “Silver Oak has been an excellent partner. With their active support and guidance, we experienced significant growth while enhancing the value we bring to our business partners. We look forward to building upon this success with our new partners.”
William Blair and Locke Lord LLP acted as financial advisor and legal counsel to the sellers, respectively.
About Silver Oak Services Partners
Founded in 2005, Silver Oak Services Partners is a lower-middle market private equity firm focused on partnering with exceptional management teams to build industry leading business, consumer and healthcare service companies. Silver Oak utilizes a proactive, research-led investment process to identify attractive services sectors and seek out the best potential management teams and investment opportunities. We bring extensive services industry expertise and relationships to our investments and work closely with our management teams to drive long-term value creation. Silver Oak’s principals have a long history of services private equity investing and have demonstrated an ability to navigate through varying economic and market conditions. Silver Oak seeks to make control investments in leading service businesses with $15 to $150 million in revenue. For more information, visit www.silveroaksp.com
About Court Square Capital Partners
Court Square is one of the most experienced teams in the private equity industry. Since 1979, the team has made over 210 investments, including several landmark transactions, and has developed numerous businesses into leaders in their respective markets. Based in New York, N.Y., Court Square invests in companies that have compelling growth potential. The firm manages approximately $5 billion in aggregate capital commitments while focusing on the following four sectors: business services, general industrials, healthcare and technology/telecommunications.