Fox Three Partners, LLC Acquires Burlington Medical Supplies, Inc.
Private investment company partners with Peninsula Capital Partners to acquire leading manufacturer of radiation protection products
May 04, 2015, 02:23 ET
VIRGINIA BEACH, Va., May 4, 2015 /PRNewswire/ -- Fox Three Partners, LLC ("Fox Three"), a private investment company focused on the lower middle market, announced today the acquisition of Burlington Medical Supplies, Inc. ("BMS"). Founded in 1969 and based in Newport News, Virginia, BMS provides a full range of radiation products for medical professionals as well as patient comfort products. Fox Three partnered with Peninsula Capital Partners ("Peninsula"), an investment company specializing in subordinated debt and structured equity investments in superior middle-market companies.
"For over 40 years BMS has been the gold standard in radiation protection products in the medical industry. Their products are vital to providing comfort and protection for doctors, radiation technicians, nurses and patients around the world. We look forward to continuing this legacy and are proud to be associated with the outstanding team at BMS," said Taylor Grant, Managing Partner at Fox Three. "The traditions of first class product quality and customer service will remain central to BMS' success in the marketplace."
"With our founders wanting to retire, it was important to find a partner who could understand our culture, strategy and potential. Fox Three and Peninsula showed they understand how smaller companies like BMS operate, especially how our culture supports our success. It is the energy that powers the business," said John Williams, the CEO of BMS. He will continue in this role with Burlington Medical, LLC, the new name for the company. "The Burlington Medical team and I are very excited about working with Fox Three and Peninsula to achieve the company's potential."
"Cost pressures and advances in medical technology are driving increased radiation-based treatments," said Richard Walters, Managing Partner at Fox Three. "Burlington Medical's reputation for excellence and deep understanding of their customers' evolving needs positions them very well for continued growth. It is a great example of the kind of companies we have in Hampton Roads, Virginia."
About Fox Three Partners
Fox Three Partners, LLC ("Fox Three") is a Virginia Beach, Virginia-based private investment company focused on the lower middle market. It looks to acquire and grow companies under $50 million in enterprise value with a track record of profitability, defensible market position and strong growth prospects. For more information go to www.fox3partners.com.
About Burlington Medical Supplies
Burlington Medical Supplies ("BMS") is a Newport News, Virginia-based provider of radiation protection and patient comfort products. Founded in 1969, it is well known in the industry for its focus on customized protection products, innovation and customer service. For more information go to www.burmed.com.
About Peninsula Capital Partners
Peninsula Capital Partners is a Detroit, Michigan-based investment firm specializing in subordinated debt and structured equity investments in superior middle-market companies. Through its management of five private limited partnerships totaling over $1.0 billion of investment capital, it has made over 100 investments in a wide range of industries. For more information go to www.peninsulafunds.com.
SOURCE Fox Three Partners, LLC