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September 05. 2000
DETROIT-BASED HURON CAPITAL PARTNERS ANNOUNCES ACQUISITION OF PRISM ENTERPRISES, INC. – MANAGEMENT-LED BUYOUT OF MEDICAL INSTRUMENTS COMPANY TO SERVE AS PLATFORM FOR ACQUISITIONS.
DETROIT, Michigan, Sept. 5 /PRNewswire/ – Huron Capital Partners, LLC, a private equity investment firm, announced today that it has recently completed its acquisition of Prism Enterprises, Inc. ("Prism"), based in San Antonio, Texas. The purchase price for the company was $21.5 million. Huron partnered with Prism senior management in acquiring the company from Graham-Field Health Products, Inc., a publicly-held medical products company.
Prism is a leading designer, manufacturer and marketer of women’s health and neonatal care products used by OB/GYN physicians in hospital, clinical and office settings. Its key products include a proprietary line of vacuum extraction systems (MityVacÒ ) for use in difficult birthing situations as well as obstetrical and therapeutic heat and cold pack products.
The company fits in well with Huron’s strategy of acquiring smaller, niche companies with strong growth potential. According to Michael Beauregard, Principal of Huron Capital, "We were attracted to Prism because of its exceptionally strong management team and leading market shares". Brian Demkowicz, Managing Director of Huron Capital, added "Our strategy is to build Prism into a complete women’s health products company. We expect to rapidly grow the company through new product introductions and strategic acquisitions."
One of the few private equity groups in Detroit, Huron Capital exclusively targets smaller, growing middle-market companies. Huron Capital is dedicated to sponsoring management-led buyouts and recapitalizations of companies having revenues between $10 million and $100 million. The key to the firm’s investment strategy is partnering and working closely with strong management teams in acquiring niche manufacturing, specialty service, and value-added distribution companies that can be built through acquisition and organic growth. Huron Capital has $72 million of committed equity capital from a variety of institutional, strategic and individual investors and typically invests $3 million to $10 million of equity capital in each transaction. Significant institutional investors include National City Capital, Michigan National, Bank of America, and Comerica.
For further information, please contact either Brian Demkowicz or Mike Beauregard at Huron 313/496-1050.