COSTA MESA, Calif., Jan. 18, 2008 (PRIME NEWSWIRE) -- Michigan Orthopedic Services, LLC has been recapitalized by Huron Capital Partners LLC. Terms of the transaction were not disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Michigan Orthopedic Services. Jeffrey Weiss of Jaffe Raitt Heuer & Weiss, P.C. served as legal advisor to the company.
"Unlike the large-cap M&A markets, middle-market transactions with solid fundamentals are consummated regularly," said Paul Weisbrich, senior managing director, RSM EquiCo Capital Markets. "Michigan Orthopedic's differentiated business model in the highly fragmented orthopedic and prosthetic sector, coupled with a shift in U.S. demographics to an increasingly older population, created a compelling investment opportunity.
"In addition to allowing Michigan Orthopedic's shareholders to monetize a substantial portion of their equity, the recapitalization provides the company access to additional capital to build upon its leadership position from a well-established, savvy private equity sponsor."
A team of RSM EquiCo Capital Markets professionals contributed to the successful close of this transaction. Weisbrich and Erik Choy, vice president, led the deal team.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
RSM EquiCo Capital Markets is licensed by the SEC and all state securities authorities, and is a member of the FINRA and SIPC. The firm's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York and London.
About Michigan Orthopedic Services, LLC
Michigan Orthopedic Services, LLC (www.michortho.com), based in Livonia, Mich., operates a network of patient care facilities that design, fit, and fabricate orthotic and prosthetic devices to help patients regain their mobility. MOS has satisfied an identifiable need among both the healthcare community and its customers by utilizing leading edge technology to provide superior customer satisfaction and unique product design. The company has provided its services to thousands of patients across six locations throughout Michigan.
About Huron Capital Partners LLC
Huron Capital Partners LLC (www.huroncapital.com), based in Detroit, is a leading private equity firm investing in lower middle-market companies. The firm typically invests equity to sponsor management buyouts, growth initiatives, recapitalizations, and corporate spin-offs of well-positioned companies having revenues up to $200 million. Through its operational approach, Huron's strategy is to partner with strong management teams at niche manufacturing, specialty service, and value-added distribution companies that can be built through acquisition and organic growth. Since its founding in 1999, Huron has acquired or invested in 30 companies and has generated a realized IRR exceeding 65 percent for its limited partners.