Mercury Partners has acquired DirectMed Parts & Service LLC, a provider of medical imaging aftermarket parts, systems and field service solutions. No financial terms were disclosed. In addition to the acquisition, Brad de Koning, a managing partner at Mercury, has been appointed CEO of DirectMed. He replaces Bill Erbes, who will continue as an adviser and a member of the board of directors.
June 1, 2017 (Newport Beach, CA) – Today Mercury Partners successfully acquired DirectMed Parts & Service, LLC, a leading supplier of medical imaging aftermarket parts, systems, and field service solutions. This transaction will position DirectMed for accelerated growth and strategic expansion.
Brad de Koning, Managing Partner at Mercury, will assume the CEO role at DirectMed, replacing Bill Erbes who will continue to serve as an advisor and member of the board of directors. The two are committed to support a seamless transition and the long-term independence of DirectMed.
Consistent with Mercury’s strategy of investing in and preserving the culture and relationships of founder owned and operated lower middle-market businesses, Mercury will retain all employees and build on the foundation laid by Bill Erbes and his co-founders. “Mercury Partners sees the DirectMed opportunity as a clear fit with our criteria. The founders have been successful by focusing on a very specific mission. The customer base relies on
DirectMed to provide quality replacement parts and testing for MRI and CT machines, extending the lives of these expensive assets,” said Brad de Koning. “DirectMed is ISO 9001 certified. Quality assurance is at its core. The investment by Mercury Partners allows DirectMed to take its customer service, inventory and engineering support to the next level.”
In his message to DirectMed customers, Bill Erbes explained, “We are at a new phase of growth and Mercury Partners is a logical partner to provide the resources and management to drive expansion while preserving an independent, dynamic company dedicated to your needs.”
Tanner LoRusso, VP of Sales at DirectMed, also confirmed the customer benefits of the transaction. He said, “We are excited to announce the investment by Mercury Partners, which provides the capital and expertise required to expand our high quality parts and service solutions. Over the next 12 to 24 months, our customers will see the benefits of a broader service menu within an expanded facility.”
About Mercury Partners:
Mercury Partners is a privately funded investment company looking to acquire and operate lower middle-market founder-owned businesses. Mercury’s focus is on U.S. companies with revenue of $10 to $50 million that operate in the business services and financial services industries. Visit www.mercfund.com for more information.