MINNEAPOLIS (December 7, 2015) — Yukon Partners (“Yukon”), a provider of mezzanine capital for middle market private equity transactions, is pleased to announce that it has partnered with Pouschine Cook Capital Management (“Pouschine Cook”) and existing shareholders of Walnut Creek Skin & Laser, LLC (“WCSL”) to form Golden State Dermatology, LLC (“Management Company”) to provide exclusive practice management services to WCSL. WCSL is a preeminent dermatology practice based in Walnut Creek, California, that provides medical, surgical and cosmetic dermatology services.
Pouschine Cook sponsored the transaction whereby Pouschine Cook, Yukon, and existing shareholders of WCSL formed the Management Company to provide strategic, operational, and administrative support to facilitate its future growth plans. Mezzanine capital was also provided by Yukon. Legal counsel for Yukon was provided by Schiff Hardin LLP.
Pouschine Cook complements the existing shareholders’ vision with strategic guidance and financial expertise to accelerate growth while continuing to leverage WCSL’s scalable platform, referral sources, and its full service offering. Pouschine Cook will also leverage its transactional experience in healthcare to find additional opportunities for growth, both organic and acquisitive.
“We are thrilled to partner with Dr. Becker, Dr. Zimmerman and the other medical providers. We all share a passion for providing the highest quality of care, and we look forward to building the platform to support significant expansion,” said John Pouschine, founder of Pouschine Cook.
“Pouschine Cook, Yukon and the WCSL team all share the vision of delivering the highest quality patient care, outstanding customer service and exceptional patient, staff, and physician satisfaction,” said Dr. Ed Becker, founder of WCSL. “In this time of consolidation at all levels of the healthcare delivery system, the experience of Pouschine Cook in building strong infrastructure to support rapid growth and the healthcare investment expertise of Yukon will enable us to execute our strategy through both opening new offices and the merger and integration of the highest quality dermatology practices in the Bay Area and beyond.”
Bill Dietz, Managing Partner of Yukon, added, “We are excited to partner with Dr. Becker, Dr. Zimmerman, the WCSL team, and Pouschine Cook to support the investment in Golden State Dermatology. We are confident that with Pouschine Cook’s leadership, alongside the physicians’ strong reputation, operational expertise, and industry experience, the platform will continue its impressive track record of growth and operational excellence.”
About Golden State Dermatology / Walnut Creek Skin & Laser
Golden State Dermatology, with headquarters in Walnut Creek, California, provides practice management services to dermatology practices in the East Bay area of San Francisco. The Company was formed by Dr. Ed Becker and Dr. Jay Zimmerman, and will initially provide practice management services to Walnut Creek Skin & Laser. Walnut Creek Skin & Laser specializes in medical conditions of the skin, hair and nails, as well as surgical and non-surgical cosmetic skincare, anti-aging and body contouring. The practice is consistently among the most highly rated in Northern California. For more information, please visit www.walnutcreekskinandlaser.com.
About Yukon Partners
Yukon Partners is an independent and unaffiliated mezzanine firm primarily 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, and public-to-private buyouts. Yukon Partners is based in Minneapolis, Minnesota. For more information, please visit www.yukonpartners.com.
About Pouschine Cook Capital Management
Pouschine Cook Capital Management invests in proven, private, middle-market companies that are leaders in their niches, with a focus on health care services and business services. Whether making a strategic non-control or a control investment, as seasoned investment professionals with significant operating, corporate development and corporate finance experience, Pouschine Cook’s professionals work closely with management and shareholders to build equity value. For more information, please visit www.pouschinecook.com.
About Schiff Hardin
Founded in 1864, Schiff Hardin has offices in Chicago and Lake Forest, Illinois; New York, Washington, D.C.; Atlanta, Georgia; San Francisco, California; Dallas, Texas; and Ann Arbor, Michigan. Schiff Hardin enjoys a national reputation in the area of corporate and securities law; particularly with respect to finance. Schiff Hardin provides legal solutions to clients in all phases of the investment cycle and at all levels of the capital structure – representing PE funds, mezzanine investors, venture capital investors, and clients in fund formation, M&A, management buyouts, spin-offs, going private transactions, dispositions, and financings. Recognized for their achievements by peers and clients alike, 29 of the firm’s attorneys and 9 practice areas have also been ranked by Chambers USA.
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