Ridgemont Equity Partners Acquires HemaSource

Ridgemont Equity Partners, a middle market private equity investor, has acquired HemaSource Intermediate Holdings LLC, atechnology-enabled distributor of medical products to the plasma collection industry. Financial terms of the transaction were not disclosed.
 
HemaSource, headquartered in West Jordan, Utah, distributes consumable products across 1,300 SKUs from two strategically located distribution centers. The company utilizes a proprietary cloud-based inventory management and business intelligence software solution to help its customers gain supply chain efficiencies and decrease their plasma collection costs. Plasma-derived therapeutics like IVIG, Albumin and Factor VIII treat immunodeficiency diseases, neurological disorders, and hematology conditions.
 
“HemaSource is an ideal investment for Ridgemont as we are active investors in both value-added distribution and pharma services,” said Scott Poole, partner at Ridgemont. “The company is well- positioned given the strong demand drivers for plasma-derived therapeutics, which fuels the need for consumables during the plasma donation process. We’re excited to partner with the HemaSource management team and continue to grow the Company together.”
 
“We believe that Ridgemont is the best partner for the HemaSource team as we enter the next chapter of our business,” said Tom Jordan, CEO of HemaSource. “Ridgemont distinguished themselves with their knowledge of our business and the plasma end-markets. There are many exciting initiatives to pursue ahead of us and we look forward to working with Ridgemont to accomplish our goals.”
 
Financing for the transaction was provided by NXT Capital, Barings, TIAA Private Investments, an affiliate of Nuveen and Triangle Capital Corporation. K&L Gates LLP provided legal services to Ridgemont and William Blair & Company served as financial advisor to Ridgemont.
 
HemaSource Intermediate Holdings LLC is a technology-enabled distributor of medical products to the plasma collection industry.
 
Ridgemont Equity Partners is a Charlotte, N.C.-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $3.5 billion in 139 companies. The firm focuses on investments of $25 million to $100 million in industries in which it has deep expertise, including basic industries and services, energy, healthcare, and telecommunications/media/technology.