Harris Williams & Co. Advises Capsa Healthcare on its Sale to Levine Leichtman Capital Partners

September 11, 2017

Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces the sale of Capsa Healthcare (Capsa), a portfolio company of Keystone Capital, Inc. (Keystone), to Levine Leichtman Capital Partners (LLCP). The transaction was led by Cheairs Porter, Andy Dixon, Paul Hepper, Nick Owens, Taylor Will and Charles Busch of Harris Williams & Co.’s Healthcare & Life Sciences (HCLS) Group.

“Capsa has developed a reputation for superior quality and customer service, with a portfolio of mission-critical products that improve the delivery of healthcare in today’s environment,” said Cheairs Porter, a managing director in Harris Williams & Co.’s HCLS Group.

“Keystone and management have done a tremendous job in establishing Capsa as a market leader across each of its end markets, and LLCP will be a strong partner to help the company continue its robust track record of growth,” added Andy Dixon, a managing director in Harris Williams & Co.’s HCLS Group.

“We have experienced significant growth and expanded our offering across the continuum of care during our partnership with Keystone,” said Andrew Sherrill, CEO of Capsa. “We have found a great new partner in LLCP and we look forward to beginning a new stage of growth and enhancing Capsa’s market-leading position across the healthcare ecosystem. The entire Capsa team will continue to work under the same guiding principal, our unwavering commitment to superior service and products, as we continue our upward trajectory with the support of LLCP. Our customers are our focus, and they will experience exactly the same commitment to their success they've received from Capsa for decades."

Capsa is a leading provider of mobile workstations, medication management products and pharmacy automation solutions for healthcare settings worldwide. The company’s workflow solutions increase efficiency for over 3,000 customers, including leading health systems, senior care communities and major retail and institutional pharmacies. Capsa is headquartered in Portland, Oregon and has additional production facilities in Columbus, Ohio and Agua Prieta, Mexico.

Keystone is a private investment firm based in Chicago, Illinois. Formed in 1994, its mission is to acquire and build a portfolio of exceptionally high quality, mid-sized businesses that are leaders in their niche markets. Keystone is differentiated by its investment of personal as opposed to third-party capital, which results in a longer investment horizon of more than 10 years and an ability to enter into true operating partnerships with the professional management teams of its companies.

LLCP is a Los Angeles, California-based private investment firm that has managed approximately $9 billion of institutional capital since its inception. LLCP invests in middle market companies located in the U.S. and Europe. LLCP is currently making new investments through Levine Leichtman Capital Partners VI, L.P., Levine Leichtman Capital Partners Lower Middle Market Fund, L.P., Levine Leichtman Capital Partners Private Capital Solutions, L.P., Levine Leichtman Capital Partners Europe, L.P. and LLCP Co-Investment Fund, L.P. LLCP has offices in Los Angeles, New York, Dallas, Chicago, London and The Hague.

Harris Williams & Co. (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s HCLS Group has experience across a broad range of sectors, including medical devices, products and distribution; multi-site and retail healthcare providers (including dental care providers); alternate site care; healthcare IT; managed care and cost containment services; outsourced clinical services; and outsourced pharma services.  For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.