William Blair acted as financial advisor to NDC, Inc., a portfolio company of Court Square Capital Partners, in connection with its sale to Platinum Equity. The transaction closed on March 10, 2021.
Transaction Highlights
- Deep relationships and sector experience: NDC and Court Square Capital were attracted to William Blair’s deep expertise and transaction experience in the healthcare distribution space. This is the second time William Blair has sold NDC having sold the company to Court Square in 2015.
- Meticulous process execution: William Blair’s transaction team’s thoughtful marketing included early engagement meetings with high priority buyers and a largely virtual diligence process with a few onsite meetings, which NDC and William Blair were able to facilitate through the year-end holidays.
- Thoughtful COVID positioning: NDC management and the transaction team proactively positioned sustainable financial performance and COVID impact to get maximum credit for “go-forward” normalized EBITDA.
- Trusted guidance: The transaction team was integrally involved throughout each step of the transaction process, including performing extensive financial analyses, developing marketing materials, coordinating due diligence with multiple parties, and negotiating key contract terms.
About the Companies
NDC, Inc is a leading healthcare supply chain platform serving numerous end-markets including acute care, primary care, long-term care, dental, physical therapy, homecare, home infusion, specialty markets, and vaccines. The company distributes a broad range of healthcare consumables to small and regional distributors where it would be difficult or inefficient for them to purchase products direct from manufacturers.
Platinum Equity is a global investment firm with more than $6 billion of assets under management and approximately 30 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions, and operations, acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications, and other industries.
Court Square Capital Partners is a private equity firm focused on middle market businesses. They manage over $6 billion of assets and have completed more than 230 investments over the past three decades. The firm is committed to partnering with and aligning incentives between their investors, managers, and investment teams to produce long-term, sustainable value. Court Square Capital maintains a longstanding tradition of accountability with over $1 billion of personal commitments from their investment team.
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