Harris Williams & Co. Advises Maxor National Pharmacy Services Corporation on its Recapitalization Led by Beecken Petty O’Keefe & Company
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the recapitalization of Maxor National Pharmacy Services Corporation (Maxor), a leading national pharmacy services platform, led by Beecken Petty O’Keefe & Company (BPOC). Harris Williams & Co. acted as the exclusive advisor to Maxor. The transaction closed on January 31, 2014 and was led by Cheairs Porter, Geoff Smith, Paul Hepper and Jacques Fu from Harris Williams & Co.’s Healthcare & Life Sciences (HCLS) Group.
“Maxor’s unique national pharmacy services drive significant cost savings and operating efficiencies for its clients,” said Cheairs Porter, a managing director in Harris Williams & Co.’s HCLS Group. “BPOC is an experienced investor in the pharmacy industry and will be an excellent partner as Maxor’s management team executes the next phase of the company’s strategic and growth objectives.”
Since its founding in Amarillo, TX as a single retail pharmacy in 1926, Maxor has grown into a national leader in pharmacy services. Under the guidance of Jerry Hodge, chairman of Maxor since 1966, the company has established itself as a premier player in outpatient pharmacy management, correctional pharmacy services, pharmacy benefit management and specialty pharmacy services. In addition, Maxor has also recently expanded its service offering to include pharmacy-focused technology and third party administration of healthcare benefits.
BPOC is a Chicago-based private equity management firm founded in 1996 to invest in middle market buy-out transactions, recapitalizations and growth platforms in the healthcare industry. The firm evaluates, structures and manages investments on behalf of institutional and individual investors.
Harris Williams & Co.’s HCLS Group has experience across a broad range of sectors, including alternate site care; healthcare IT; managed care and cost containment services; medical devices, products and distribution; outsourced clinical and practice management services; and outsourced pharma services. For more information on the HCLS Group and other recent transactions, visit the HCLS Group website.