MSouth Equity Partners has acquired BC Technical Inc., a West Jordan, Utah-based service provider to the nuclear medicine market. No financial terms were disclosed.
It was announced July 9, 2009, that BC Technical Inc. of West Jordan, Utah was acquired by MSouth Equity Partners of Atlanta, GA.
Mr. Mark Feidler, MSouth Partner said, “we are excited to acquire BC Technical as it is the leading independent service provider in nuclear medicine and represents an excellent addition to our portfolio of business services companies. The opportunity to team with the current management group at BC Technical, with the addition of two excellent and very experienced senior executives in Mark Alvarez and Allen Smith, make this a perfect fit to capitalize on BC’s leading position and to expand in the attractive healthcare services marketplace.”
BC Technical Inc. will be led by President and CEO, Mark J. Alvarez, who brings an extremely impressive track record, having recently been the COO of Microtek Medical, a $178M global healthcare manufacturer; President of Recall North America, a $240M document management and solution company; a 19 year veteran of General Electric Company, initially with GE Medical Systems and thereafter in more senior leadership positions within General Electric’s Corporate Marketing and Sales Group across all of the industrial and capital businesses of the company.
Joining Mr. Alvarez, will be Allen L. Smith, Ph.D, who brings more than 35 years of Nuclear Medicine and PET experience. He is a 27 year veteran of GE Medical Systems in various senior management positions, as well as CTI Molecular Imaging and most recently as Sr. Vice President of UltraSPECT Inc.
Under the agreement, current President and CEO, Charles Hale will remain with the company as the Executive Transition Officer providing senior executive leadership and support of all BC Technicals’ management and operations.
Mr. Hale said, “We have had many opportunities over the years to sell BC Technical but never found the proper group to pass the baton to until now. With Mark and Allen’s leadership and experience, the company will be positioned to continue to expand and deliver superior services to it’s customers. In addition, Mark and Allen will preserve the culture of this fine company.”
Two other Senior Managers, Mr. William Biddle, who joined BC Technical in 2007 as COO, will continue in that position and Mr. Dan Gasparovich will continue his positions of Chief Technical Officer and Region Service Manager.
MSouth Equity Partners (www.msouthequity.com) is a private equity investment firm that supports management teams with acquisitions and recapitalizations of companies typically valued $25 – 125 million. Based in Atlanta, GA, MSouth invests primarily in the southern United States with a consistent focus on management buyouts of distribution, business services and manufacturing companies. MSouth is a successor to Cravey, Green & Wahlen as three of its four founding partners have worked together for many years at CGW.