Tenex Capital Partners LP has acquired Gurnee, Illinois-based Ohio Medical Corp, a maker of of medical suction and oxygen therapy products and source equipment. No financial terms were disclosed.
New York, New York – January 7, 2016 – Tenex Capital Partners, L.P., an operationally focused private equity firm, has completed the acquisition of Ohio Medical Corporation (“OMC”), a market leading manufacturer and distributor of medical suction and oxygen therapy (“SOT”) products and source equipment.
Ohio Medical Corporation traces its history back over 100 years to the Ohio Chemical & Manufacturing company founded in Cleveland, OH in 1910. OMC offers quality branded products, including suction/vacuum regulators, flowmeters, medical gas hoses, medical gas pipelines, and source equipment. The company is headquartered in Gurnee, IL, with additional facilities in Madison, WI and Toronto, ON.
Chad Spooner, Managing Director of Tenex Capital Management, stated, “In Ohio Medical, we are fortunate to have acquired a company with an established network of hospital groups and distributors, as well as market leadership in its core product offering and a strong commitment to safety. We believe this business is primed for re-investment, and we look forward to working with OMC to take the company to its next phase under our ownership.”
The acquisition was effective as of December 31, 2015.
Tenex Capital Management is a private equity fund that invests in middle-market companies. Tenex utilizes an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has established a successful track record investing in diverse industries, including industrials, manufacturing, and health and business services. For additional information, please visit www.tenexcm.com.
About Ohio Medical Corporation
OMC manufactures and distributes medical suction and oxygen therapy (“SOT”) products and source equipment (“Systems”). SOT product offering includes branded suction/vacuum regulators, flowmeters, and medical gas hoses; Systems includes medical gas pipelines, service, and source equipment. The Company is headquartered in Gurnee, IL and employs approximately 250 employees across its two manufacturing facilities in Gurnee and Toronto, Canada as well as a sales office in Madison, WI. OMC was originally founded in 1910 in Cleveland, OH, and produced its first vacuum regulator in 1950 under the Ohio Medical brand name. For additional information, please visit www.ohiomedical.com.