DW Healthcare Partners (DWHP) has acquired Spectrum Solutions LLC, a maker of containers and packaging solutions for the scientific testing, medical, organic health and cosmetic sectors, and shipping affiliate Go-2 Fulfillment Co Inc, both based in Draper, Utah.
Terms weren’t disclosed. The sellers were President and CEO Gregg Williams, who founded the business in 2005, and COO Bill Phillips. They will retain ownership stakes.
Generational Equity advised Spectrum and Go-2 on the deal.
Based in Toronto and Park City, Utah, DWHP is a healthcare private equity firm. It is currently investing from DW Healthcare Partners Fund IV, which raised US$295 million in 2017.
Generational Equity Advises Spectrum Solutions and Go-2 Fulfillment in Sale to DW Healthcare Partners
June 04, 2019
DALLAS–(BUSINESS WIRE)–Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the partial equity sale of its client, Spectrum Solutions, LLC, and Go-2 Fulfillment Company, Inc., to DW Healthcare Partners. The transaction closed May 17, 2019, and details were not disclosed.
Spectrum Solutions is a product development, custom designer, and manufacturer of containers and packaging solutions primarily for the scientific testing, medical, organic health, and cosmetic sectors. Fulfillment, kitting, and shipping services are available through Go-2 Fulfillment. Both are headquartered in Draper, Utah.
Gregg Williams, President and CEO, founded the business in 2005, and soon thereafter brought on a partner, Bill Phillips, COO. Post-transaction, both remain equity owners and active in the business for the foreseeable future, working hand-in-hand with DW Healthcare Partners to continue to invest in production processes, new patented medical-grade devices, and growth through penetrating new markets and further expanding in existing ones.
DW Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. The firm manages over $800 million in committed capital and invests in profitable healthcare companies with proven management teams. DW Healthcare Partners is led by seasoned healthcare executives with more than 110 years of combined industry experience. The firm provides the capital, strategic guidance, and acquisition expertise to help mid-to-late-stage companies realize their potential for growth. DW Healthcare Partners is headquartered in Park City, Utah, with an office in Toronto, Ontario.
Speaking on the transaction, Gregg Williams said, “This was a process that embodied every adjective from exciting to grueling. It is without a doubt a very tough process, but in the end worth every challenge. The Generational Equity team of Michael Goss and Don Ho were both extraordinary in guiding us through it, handling all aspects from A-Z while assembling a team of top professionals that addressed and handled each challenge. I feel they found the perfect partner for us in DWHP. We are very excited about our new partnership. This is the right union to take Spectrum to the next level.”
Bill Phillips added, “Going through the sale of our business was something far more detailed and difficult than I could have ever imagined. I know that without the unbelievable attention to detail and the depth of knowledge both Don and Michael have in this process it would have been impossible. With Don’s and Michael’s help, a team was assembled that helped us get exactly what we wanted in a partnership with DWHP. I feel without their help, this process would have been far more grueling and emotionally taxing than what it was. They greatly exceeded my expectations, and I am forever grateful that they were on our team and helped us unite with DWHP.”
Generational Equity Executive Managing Director of M&A – Central, Michael Goss and his team, led by Senior Vice President Mergers & Acquisitions Don Ho, successfully closed the deal.
“This transaction is the brilliant outcome of what emerges when you mix Gregg, a gifted serial entrepreneur, and Bill, a genius of production/fulfillment and supply chain processes, with a group of exceptionally talented and deeply connected healthcare experts in DW Healthcare Partners,” said Goss. “The complexity of this deal was legitimate, but thanks to the ultimate flexibility and aligned vision of both sides – Gregg and Bill and DW Healthcare Partners – we were able to see it through successfully to the closing table to everyone’s excitement and economic benefit.”
Don Ho added, “We cannot be more excited for our clients and this milestone achievement for their business and personal lives. Partnering with DWHP will allow the business to improve their R&D, manufacturing, and automation, as well as operational and financial reporting infrastructure. Further, the additional capital and human resource from DWHP will augment Spectrum Solutions’ and Go-2 Fulfillment’s ability to better serve its customers.”
“The Generational Equity team, as well as Michael and I, are very grateful and fortunate to have been able to help our clients identify internal and external risks, and grow and improve their two businesses over the last few years, in order to achieve Gregg and Bill’s goals,” added Mr. Ho.
About Generational Equity
Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading middle market investment banks in North America.
With over 250 professionals located throughout North America, the companies help business owners release the wealth of their business by providing merger, acquisition, and wealth management services. Their five-step approach features exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.
The M&A Advisor named the company the 2016, 2017, and 2018 Investment Banking Firm of the Year. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.