Drive Medical has acquired Columbia Medical Manufacturing LLC from Triton Pacific Capital Partners LLC. No financial terms were disclosed. Columbia is a maker of rehabilitation products for children with disabilities.
LOS ANGELES, CA–(Marketwired – Apr 10, 2015) – Triton Pacific Capital Partners, LLC has announced that its portfolio company, Columbia Medical Manufacturing, LLC (Columbia), a premier manufacturer of innovative complex rehabilitation products that enhance the lives of children with disabilities, has been acquired by Drive Medical, a global manufacturer of durable medical equipment.
During its ownership, Triton Pacific applied its Value Enhancement Program (SM) to further professionalize the Columbia business. This time-tested business model, in conjunction with Triton Pacific’s operating expertise, helped Columbia accelerate growth and maximize value.
“We collaborated with management to meet our objectives of building a robust product development team, implementing a lower cost manufacturing process, and expanding the distribution channel. Columbia’s success couldn’t help but attract the attention of a large and growing company such as Drive,” said Craig J. Faggen, CEO of Triton Pacific. “Drive is in an excellent position, with the addition of Columbia, to realize its vision of expanding its presence in the pediatric market.”
Triton Pacific’s investors have received distributions from cash flow in excess of their investment prior to sale — and, together with the sale proceeds, will have generated a return of more than three times their original investment.
Founded in 1978, Columbia has developed and marketed a variety of high-quality assistive products such as wheelchairs, aircraft transfer chairs, bath and shower products, and car seats. These products enable children with disabilities and their families to engage in the activities of daily living in a safe and productive manner.
“We are delighted to become part of Drive and to help extend their presence in the pediatric market,” said Gary Werschmidt, president and CEO of Columbia. “Drive is a company with considerable expertise in the durable medical equipment market, and we look forward to working with their team in continuing to deliver high quality, innovate products to our customers.”
About Drive Medical
Drive Medical manufactures a complete line of durable medical equipment including mobility products, beds, bariatric products, wheelchairs, sleep surfaces and pressure prevention products, respiratory equipment, self-assist products, power operated wheelchairs, rehabilitation products, patient room equipment, personal care products and electrotherapy devices. Currently, the Company has corporate offices and distribution facilities in the United States, Canada, the United Kingdom, France, Germany, Romania, Australia, China and Taiwan. The Company markets its products to customers located throughout the United States, Europe, Canada, Mexico, South America, Latin America, the Middle East and Asia. Drive Medical is one of the fastest growing major manufacturers and distributors of durable medical equipment. To learn more, please visit www.drivemedical.com.
About Triton Pacific
Triton Pacific Capital Partners, LLC, founded in 2001, is a private equity firm that invests in middle-market companies in high growth or rapidly changing industries. Headquartered in Los Angeles, California, Triton Pacific currently manages four private equity funds and is the sponsor of Triton Pacific Investment Corporation, a non-traded public Business Development Company. For more information, visit www.tritonpacific.com.