River Associates has sold Roscoe Medical to Tenex Capital Management
Lincoln International, a leading global mid-market investment bank, has announced that Roscoe Medical, Inc. has been sold to Tenex Capital Management. Roscoe Medical was a portfolio company of River Associates Investments (“River Associates”).
Roscoe Medical is a major manufacturer and distributor of innovative healthcare products that promotes independence and better living in the homecare setting. The Company’s complementary product portfolio consists of pain management, respiratory therapy, home medical equipment, sleep therapy and health and beauty products and accessories. The Company has relationships with over 3,100 active customers that serve a number of attractive patient and consumer care end markets including chiropractors, physical therapists, pain management physicians, internet retailers and home care dealers.
Lincoln International acted as the exclusive financial advisor to River Associates and Roscoe Medical, working closely with the Company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
Patten Pettway, a Partner with River Associates, noted, “We are thrilled with the outcome of this transaction. The Lincoln team ran a flawless process that yielded a superior outcome for the Company and its shareholders.” Paul Guth, Roscoe Medical’s CEO, added, “It was certainly a pleasure working with the Lincoln Team and I couldn’t be more pleased for River Associates. They were a supportive sponsor and helped position us for future growth.”
About River Associates Investments, LLC
Founded in 1989, River Associates has a 23 year track record of initiating control buyouts of lower middle market companies located throughout the U.S. and Canada. The firm focuses on companies in a variety of industries with operating cash flow (EBITDA) in the $5-15 million range where they can invest $10-30 million of equity. Over its history, River Associates has invested in numerous family succession transactions, founder owned business sales, corporate divestitures and private equity portfolio company dispositions. The firm is currently investing River VI, L.P. with $222 million in committed capital. For additional information about River Associates Investments, LLC, please visit the firm’s website at www.riverassociatesllc.com.
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