The Riverside Company has sold FLA Orthopedics to BSN Medical of Germany. No financial terms were disclosed, except that Riverside reported an 86% gross IRR and 6.4x gross cash-on-cash return. FLA is a manufacturer and designer of orthopedic bracing, support and related products, with facilities in Miramar, Fla. and Huntersville, N.C. William Blair & Co. served as financial advisor on the sale.
The Riverside Company completed its successful ownership of FLA Orthopedics (“FLA”), selling the company to BSN medical, a Germany-based multinational healthcare supplier, and generating sturdy results for investors with a gross IRR of 86% and a gross cash-on-cash return of 6.4 times.
Riverside's 2003 Capital Appreciation Fund acquired FLA, a leading manufacturer and designer of innovative orthopedic bracing, support and related products, in 2004. Following the acquisition, Riverside helped FLA grow through two strategic add-on acquisitions