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RETURN TO NEWS RELEASES
September 12. 2001
HURON CAPITAL PARTNERS ACQUIRES LYCO ENTERPRISES, INC. – PLATFORM COMPANY EXTENDS PRODUCT LINES IN THE WOMEN'S HEALTHCARE PRODUCTS MARKET
DETROIT, Michigan, October 15, 2001 // PRNewswire // Huron Capital Partners, LLC, a Michigan-based private equity investment firm, announced today that through its portfolio company, Prism Enterprises, Inc. ("Prism"), it acquired all of the stock of Lyco Enterprises, Inc. ("Lyco"). The purchase price for Lyco was not disclosed.
Founded in 1994 and based in El Paso, Texas, Lyco is a designer, manufacturer and marketer of a variety of OB/GYN medical products, including its proprietary line of HSG-Catheters used to diagnose structural reasons for infertility as well as other female reproductive system issues.
Based in San Antonio, Texas, Prism is a leading designer, manufacturer and marketer of women's health and neonatal care products used by OB/GYN physicians. The Company's key products include a proprietary line of vacuum extraction systems (MityVac®) for use in difficult birthing situations as well as obstetrical, neonatal and therapeutic heat and cold pack products. In August 2000, Huron partnered with Prism senior management in acquiring Prism from Graham-Field Health Products, Inc., a publicly-held medical products company. According to Michael R. Beauregard, Principal of Huron Capital, "Lyco represents a great opportunity for Prism to continue its expansion in the area of Women's Healthcare. This transaction is part of a series of strategic business acquisitions and new product introductions presently being executed by Prism to become a leading full-line supplier of OB/GYN and neonatal care products to physicians in hospital, clinical and office settings."
Huron Capital invests in acquisitions, buyouts and recapitalizations of growing middle-market companies having revenues between $10 million and $100 million. The key to the firm's investment strategy is partnering 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 $15 million of leveragable equity capital in each transaction. Significant institutional investors include National City Capital, Standard Federal Bank (ABN-AMRO Bank), Bank of America, and Comerica Bank.
For further information, please contact Brian Demkowicz or Mike Beauregard at Huron Capital (313/496-1050).