Patricia Industries’ Sarnova acquires Allied 100 from Ridgemont Equity Partners

The transaction combines two businesses with robust AED (automated external defibrillator) and emergency preparedness products and service solutions.

Sarnova business unit Cardio Partners has acquired Allied 100, a nationwide distributor of automated external defibrillators and related accessories, from Ridgemont Equity Partners. Sarnova has been a portfolio company of Patricia Industries since 2018. Harris Williams provided financial advice to Patricia and Sarnova, while Baird advised Ridgemont and Allied 100.

PRESS RELEASE

BRENTWOOD, Tenn.Sept. 7, 2021 /PRNewswire/ — Cardio Partners, Inc., a company of Sarnova, Inc. and a national leader in providing emergency preparedness solutions, announced today that it has acquired Allied 100, LLC, a nationwide distributor of automated external defibrillators (AEDs) and related accessories, from Ridgemont Equity Partners. The sale closed on September 3, 2021.

Based in Wisconsin, Allied 100 is comprised of trusted cardiac response brands including; AED Superstore, Heartsmart, SOS Technologies, CPR Plus and Annuvia. The combination of Cardio Partners and Allied 100 will provide expanded sudden cardiac arrest (SCA) solutions, training and services to both professional and bystander first responder markets.

Brian LaDuke, President of Emergency Preparedness at Sarnova, commented that, “Over 365,000 out-of-hospital sudden cardiac arrests happen each year in the United States. Combining these companies expands our reach and offering, creating a full sudden cardiac arrest solution enabling more customers the opportunity to respond in an emergency and increase the chances that a life is saved.”

“The Allied 100 team welcomes the opportunity to join Cardio Partners, another customer-centric company, to offer expanded services to our customers,” said Mike Berg, CEO Allied 100. “This combination strengthens and brings emergency preparedness to the forefront in the communities and workplaces we live and work.”

Both Cardio Partners and Allied 100 have robust AED and emergency preparedness products and service solutions to help customers save minutes and save lives. “Allied 100’s strength in excellent customer service and online product sales complements Cardio Partners’ offering of nationwide training and large-scale field deployments of SCA solutions,” said Niraj Patel, General Manager of Cardio Partners. “Expanding to two distribution hubs will also help speed delivery of much needed life-saving products to all customers,” he added.

With significant investment from Sarnova, and Sarnova’s owner Patricia Industries, Cardio Partners aims to expand its operations and customer base. “We are excited to combine these two leading companies and continue to invest in emergency preparedness, CPR training and AED program management services,” said Jeff Prestel, CEO Sarnova.

“Patricia Industries is committed to supporting Cardio Partners and Sarnova in their mission to bring a comprehensive SCA solution to customers nationwide,” said Yuriy Prilutskiy, Head of Patricia Industries North America, a part of Investor AB. “This transaction further supports Sarnova’s long-term growth and aligns with our organization’s purpose of creating value for people and society by building strong and sustainable businesses.”

Patricia/Sarnova was represented by Harris Williams LLC (financial advisor) and Simpson Thatcher & Bartlett LLP (legal advisor). Ridgemont/Allied 100 was advised by Robert W. Baird & Co. (financial advisor) and K&L Gates LLP (legal advisor).

About Cardio Partners
Cardio Partners is a national leader in providing emergency preparedness solutions for public access. We offer a proven and complete suite of products and services including employee CPR training, AED deployments and AED program management to help organizations of all sizes be heart safe. Cardio Partners is part of Sarnova, a family of companies which lead specialty distribution of healthcare products across the continuum of care. For more information, visit www.aed.com

About Sarnova
Sarnova is the leading national specialty distributor of healthcare products in the emergency medical services (EMS) and acute care markets. The company is comprised of four major business units: Bound Tree Medical, Cardio Partners, Emergency Medical Products and Tri-anim Health Services. Sarnova is a company of Patricia Industries, a part of Investor AB, which makes significant investments in best-in-class companies with strong market positions, brands and corporate cultures. For more information, visit www.sarnova.comwww.boundtree.com

About Patricia Industries
Patricia Industries, a part of Investor AB, makes control investments in leading companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. Our ambition is to be the sole owner of our companies, together with strong management teams and boards. We invest with an indefinite holding period, and focus on building durable value and capturing organic and non-organic growth opportunities. For more information, visit www.patriciaindustries.com

About Allied 100
Allied 100, LLC is a nationwide distributor of Automated External Defibrillators and related accessories. Based in Wisconsin, Allied 100, LLC is comprised of major brands including; AED Superstore, Heartsmart, SOS Technologies, CPR Plus and Annuvia. The Company offers a large array of products and services including AEDs, First Aid Kits, AHA AED/CPR Training and AED Program Management. For more information, visit www.allied100.com

About Ridgemont Equity Partners
Ridgemont Equity Partners is a private equity firm specialized in middle-market buyout and growth equity investments. It is focused on providing its services to the basic industries and services, energy, healthcare, technology, telecommunications and media sectors. Founded in 1993, Ridgemont Equity Partners is based in Charlotte, North Carolina.