Yukon Invests in WellSpring Pharmaceutical Corp.
Yukon Partners supports Ancor Capital Partners and Sentinel Capital Partners in the acquisition of WellSpring Pharmaceutical Corp.
November 4, 2011 — Yukon Partners announced today that it has completed an investment in WellSpring Pharmaceutical Corp. (“WellSpring” or the “Company”). The transaction was an acquisition of the privately-owned business by Ancor Capital Partners (“Ancor”) and Sentinel Capital Partners (“Sentinel”) in partnership with WellSpring’s senior management team.
WellSpring is a manufacturer and marketer of specialty prescription and over-the-counter (OTC) products in North America. The Company also offers contract manufacturing through its production plant, located in Ontario, Canada.
“We appreciate Yukon’s support and consider them a reliable capital provider for WellSpring. Yukon’s industry experience and insights proved invaluable throughout the transaction process,” stated Eric Gilchrest, a Partner at Ancor.
Eric Bommer, a Partner at Sentinel, commented, “WellSpring represents our third transaction with the principals at Yukon, and we are excited about the continuation of this partnership. We appreciate Yukon’s experience, flexibility, and thoughtful approach throughout the due diligence and closing process.”
“WellSpring is a highly-respected organization within the pharmaceutical industry. The Company’s management team has done an excellent job in managing the business to produce strong, consistent results. We look forward to supporting the Company’s future strategic growth initiatives. Yukon is excited to partner once again with Ancor and Sentinel, and we know that they will provide a unique balance of strategic and operational excellence to drive a successful investment strategy,” said Bill Dietz, a Managing Partner at Yukon.
About Yukon Partners
Yukon Partners is a mezzanine finance firm dedicated to serving middle market private equity sponsored business transactions with a typical investment range of $10 to $40 million in the U.S. and Canada. The transactions in which Yukon invests include Buyouts, Growth and Platform Strategies, Recapitalizations, Mergers/Acquisitions, Public to Private Buyouts, and Refinancings. For more information, visit Yukon’s website at www.yukonpartners.com.
About WellSpring Pharmaceutical Corp.
WellSpring Pharmaceutical Corporation, a privately-held company headquartered in Sarasota, Florida, manufactures and distributes prescription drugs and OTC brands through pharmaceutical distributors, wholesalers, and major food and drug retailers. WellSpring also manufactures pharmaceuticals for other drug companies on a contract basis in its production facility in Ontario, Canada. For more information, visit WellSpring’s website at www.wellspringpharm.com.
About Ancor Capital Partners
Ancor Capital Partners, based in Fort Worth, Texas, is an operations-oriented private equity firm focused on lower middle-market manufacturing and distribution companies with EBITDA between $5 million and $15 million. Extensive operational experience gives the Ancor team a unique understanding of the critical business issues faced by lower middle-market companies. Ancor’s proven track record includes 29 acquisitions to date in health care, consumer and other industries. For more information about Ancor, visit www.ancorcapital.com.
About Sentinel Capital Partners
Sentinel Capital Partners specializes in buying and building lower middle market companies in the United States and Canada in partnership with management. Sentinel targets eight industry sectors—aerospace / defense, business services, consumer products / services, distribution, food / restaurants, franchising, healthcare products / services, and industrial manufacturing. Sentinel invests in management buyouts, purchases of family businesses, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA between $7 million and $35 million. For more information about Sentinel, visit www.sentinelpartners.com.
For more information, please contact:
William L. Dietz