Buyout shop High Road Capital Partners has acquired Montvale, New Jersey-based Dowden Health Media. Financial terms of the deal were not released, although High Road said the deal was the seventh platform investment from its debut fund. The acquisition closed on December 22. Dowden provides marketing, communications and information technology services for pharmaceutical companies and hospitals.
High Road Capital Partners (www.highroadcap.com) has completed the seventh platform acquisition for its debut fund, High Road Capital Partners Fund I, LP, with the acquisition of Dowden Health Media, which closed on December 22, 2010. Based in Montvale, New Jersey, Dowden provides marketing, communications, and information technology services to pharmaceutical and hospital clients.
Dowden consists of three divisions: its Medical Communications Group develops promotional educational content and arranges in-person and web-delivered meetings to help leading pharmaceutical clients communicate with physicians. Its Custom Media Group develops custom editorial content, and manages the print and online marketing needs for hospitals across the United States. Its eCrossings Media Group provides electronic media and technology solutions to Dowden’s clients.
“Pharmaceutical companies need the ability to deliver accurate, clinically relevant information to physicians in an engaging format, and hospitals need to educate their local communities regarding essential health issues while promoting their unique capabilities,” said Bob Fitzsimmons, High Road’s Managing Partner. “Dowden is well positioned to take advantage of the increasing demand for integrated print and electronic media offerings in the large healthcare marketing, communications, and technology solutions market.” High Road Partner Jeff Goodrich added, “We look forward to working with Dowden’s strong, experienced management team to broaden Dowden’s offerings through organic growth and strategic add-on acquisitions.”
Jim Hughes, CEO of Dowden, said, “Over the last decade, Dowden has been a trusted source of high-quality content for our pharmaceutical and hospital clients in print, in person, and increasingly, via electronic media. The Dowden team is excited to partner with High Road in continuing to build the company to the next level.”
Senior debt financing was provided by Fifth Third Bank. Jeff Goodrich was High Road’s lead partner on the transaction. Also working on the transaction from High Road were Partner William Hobbs, Vice President Adi Blum and Associate Paul Langley. DeSilva+Phillips advised the seller, Lebhar-Friedman, on the transaction.
High Road has completed eleven transactions – seven platform investments and four add-on acquisitions – over the past two and a half years for its debut fund, High Road Capital Partners Fund I, LP.
For further information, please contact Bob Fitzsimmons of High Road Capital Partners at (212) 554-3265.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and currently manages over $150 million of committed capital. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $2 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level, with the expectation of doubling or tripling EBITDA during the course of its ownership through a combination of organic growth initiatives and add-on acquisitions. More information on High Road may be found on its website, www.highroadcap.com.
Dowden Health Media
Dowden Health Media is a provider of pharmaceutical and hospital marketing services. Dowden consists of Dowden Custom Media, a provider of both print and online marketing services primarily to hospitals; Dowden Medical Communications Group, a provider of promotional medical education communications services to pharmaceutical companies through Medical DecisionPoint, LLC and Convergent Health Solutions, LLC; and eCrossings Media, a provider of marketing and technology solutions that serves as the e-Media offering for Dowden. The company is headquartered in Montvale, New Jersey. Additional information about Dowden may be found on its websites: www.dowdencustom.com, www.medicaldecisionpoint.com, www.convergent-health.com, and www.ecrossingsmedia.com.
DeSilva+Phillips, Mediabankers™, is a New York-based investment bank that advises dealmakers in every area of the media, information and related technology markets. DeSilva+Phillips provides M&A advisory and corporate restructuring services and private placements of debt and equity, and has completed more than 210 transactions since 1996. Its broker-dealer affiliate, DeSilva+Phillips Corporate Finance LLC, is a member of FINRA and SIPC.