Milwaukee-based private investment firm Lubar & Co has acquired Madison, Wis-headquartered Erdman Company. Erdman is a healthcare planning, development and design-build firms, partnering with hospitals, integrated health systems and physician groups to provide optimal healthcare facility solutions. Financial details were undisclosed.
Lubar & Co. announced today the acquisition of Erdman Company, headquartered in Madison, Wis. With seven offices across the country, ERDMAN is one of the nation’s leading healthcare planning, development and design-build firms, partnering with hospitals, integrated health systems and physician groups to provide optimal healthcare facility solutions.
The acquisition was completed by Lubar & Co., in partnership with Brian Happ, ERDMAN President and CEO, and members of the management team. The Company was sold in connection with the sale of its parent, Cogdell Spencer, based in Charlotte, N.C., to Ventas, a large, diversified Real Estate Investment Trust (REIT), headquartered in Chicago, Ill.
Founded in 1951 by Marshall Erdman, the ERDMAN brand has been synonymous with superior integrated healthcare facility design and construction. Since 1951, ERDMAN has completed more than 4,600 facilities, where more than 55,000 physicians have delivered healthcare to patients and communities. The Company collaborates with healthcare leaders and organizations to create inspired, efficient and patient-centric environments that advance the quality, safety and cost effectiveness of patient care.
“I look forward to working with Lubar & Co. as we aggressively pursue our vision for the future. We are a well-capitalized company that will continue to play an important role in our country’s delivery of healthcare,” said Brian Happ. “The unique complexities of the rapidly shifting healthcare landscape require complete focus and specialized experience. We have a highly engaged, talented workforce ready to execute on our long-term strategies that will better serve our clients and the healthcare market.”
“We are proud to be associated with the Erdman Company, a relationship dating back approximately 50 years when my father, Sheldon Lubar, was first elected to the Board of Directors of Marshall Erdman & Associates,” said David Lubar. “We fully support and are pleased to be working with Brian Happ and his management team. We share their optimism about future prospects for the company given the demographic trends in America, the aging of healthcare facilities and the company’s impressive record in planning, designing and constructing modern facilities for clients.”
Lubar & Co. brings more than 40 years of investment experience and a record of success with portfolio companies in diverse industries in various stages of development.
Final terms of the transaction were not disclosed.
About Lubar & Co.
For more than 40 years, Milwaukee-based private investment firm Lubar & Co. has applied a unique blend of patient capital, collaborative vision and steadfast commitment to management teams to build thriving companies and strong communities. By doing the right things, day-in and day-out, Lubar & Co. nurtures market-leading companies that produce consistent growth and enhanced equity value over the long term.