Branford Castle gallops ahead with winning transaction!
NEW YORK, Oct. 1, 2021 /PRNewswire/ -- Branford Castle Partners announced that it has completed the sale of its portfolio company Pulse Veterinary Technologies to Zomedica Corp., for $70.9 million in an all-cash transaction. “Working in conjunction with Branford, the company was able to double sales and triple EBITDA in only two years,” said Eric Korsten, Senior Managing Director of Branford Castle Partners. “In addition, the steps that were taken to position PulseVet mean that Zomedica is buying an asset that we think has even greater growth potential than when we acquired the business.”
PulseVet is the leading global manufacturer and supplier of veterinary shock wave therapy systems, stimulating enhanced healing of a variety of musculoskeletal conditions, primarily for the performance horse market. The company is based in Alpharetta, GA, and sells worldwide. Notably, PulseVet recently launched a new companion-animal device, optimized for the treatment needs of dogs and cats. This takes the company’s growth prospects substantially beyond its historic equine market.
During Branford’s two-year ownership, PulseVet grew significantly via organic growth and two acquisitions. The first acquisition was NeoPulse, a leading Swiss-based shock wave therapy device manufacturer. The second acquisition brought in-house North American distribution of the NeoPulse line. During the past two years, PulseVet has also established advisory boards related to equine and small animal medicine, each with key opinion leaders in PulseVet’s industry.
“We greatly value the excellent partnership that we had with Branford,” said Adrian Lock, Founder and CEO of PulseVet. “It was a great ‘ride’ and they were instrumental in helping us grow to our fullest potential, well beyond our initial expectations.”
Akerman LLP provided legal services and Cowen provided investment banking services to PulseVet.
About Branford Castle Partners
Branford Castle is a private market investor with a more than 30-year history of helping to grow businesses. The firm typically makes control investments in companies with less than $15 million of EBITDA and a leadership position in a niche industry. Branford is particularly keen on the strong relationships it develops with its portfolio company managers. Branford has particular expertise in industrials/specialty manufacturing, consumer products and services, commercial distribution, business services and logistics.
SOURCE Branford Castle