Michigan Orthopedic Services, a portfolio company of Huron Capital Partners, has acquired Lansing, Mich.-based O&P Professional Care. No financial terms were disclosed.
PRESS RELEASE
Huron Capital Partners announced today that its portfolio company Michigan Orthopedic Services (“MOS”) has acquired O&P Professional Care as part of launching a new patient care center in Lansing, MI. The business will be managed under the MOS brand. Terms of the transaction were not disclosed. MOS operates a network of 11 patient care centers that design, fit and fabricate custom orthotic and prosthetic (“O&P”) devices. The Lansing location is the company’s fifth new center since Huron partnered with MOS founder Aziz Naser to recapitalize the company in December 2007.
Dennis Durco, President of MOS, stated, “We continue to execute on our growth strategy by expanding through newly acquired or de novo locations. Through our research, we identified Lansing as an attractive expansion market. We are thrilled to bring our high levels of service and patient care to the medical community in the central-Michigan region.” John Higgins, a Partner at Huron Capital, stated, “This is another positive step for us in the execution of MOS’s growth strategy where we are building a large network of patient O&P centers.”
About Huron Capital Partners LLC
Huron Capital is a leading private equity firm investing in lower middle-market companies. The firm typically invests between $10 million and $70 million in equity to sponsor buyouts, growth initiatives, corporate spin-offs and recapitalizations of growth-oriented niche manufacturing, specialty service, and value-added distribution companies having revenues up to $200 million. Huron’s strategy is to combine its operational approach, capital and transaction experience with proven management teams who have the vision, experience and commitment to grow their businesses.
Since its founding in 1999, Huron has acquired or invested in 43 companies with aggregate revenues exceeding $900,000,000. Investments have been made in a variety of areas, including print solutions & document management, education, healthcare products & services, specialty chemicals, specialty packaging, consumer products, home decor, passenger transportation services, building products, office furniture components and laboratory testing. Huron Capital currently manages over $600 million in committed equity through three private equity funds, and has consistently generated top-quartile returns for its limited partners. For more information, please visit us at www.huroncapital.com.
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