TA Associates puts TwinMed on the block

TA Associates has put another company, TwinMed, up for sale, three sources said.

Citigroup is advising on the deal, one of the sources said.

It’s unclear how much TwinMed will fetch. The Santa Fe Springs, Calif.-based company is a medical supply distributor to nursing homes and alternate site markets. The company produced $278.6 million revenue in 2011, the Los Angeles Business Journal said.

TA Associates, a growth private equity firm, acquired TwinMed in 2007. The firm paid $62.5 million, according to an SEC filing from that time. The investment came from TA’s 10th fund, which raised $3.5 billion in 2009.

TwinMed is the latest company TA has put on the block. The Boston-based PE firm is also selling its stake in DNCA Finance, a French asset manager. Last week, TA said it was selling its holding in Dealer Tire, a distributor of replacement tires and parts for automotive OEMs, to Lindsay Goldberg.

News of the sales comes as TA is expected to begin fundraising soon for its 12th private equity fund. In 2009, TA closed its 11th PE fund at $4 billion.

TA X LP is producing a 5.25 percent IRR since inception as of March 31 while Fund XI is generating a 17.07 percent IRR since inception, according to performance data from the California State Teachers’ Retirement System.

Executives for TA and Citigroup declined to comment. TwinMed could not be reached for comment.

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