Waud Capital Partners – a growth-oriented middle-market private equity firm specializing in the healthcare and software & technology sectors – announced the acquisition of Mopec Group, a vertically integrated, branded supplier of equipment, consumables, and services addressing the needs of the anatomic pathology and other laboratory end-markets. Waud Capital is acquiring Mopec from Blackford Capital, a Michigan-based private equity firm.
Founded in 1992 and based in Madison Heights, Michigan, Mopec’s core mission is to empower pathology and anatomy professionals by providing products and solutions for advancing diagnostic accuracy, safety, research, education, and the treatment of disease.
Brad Staley, an Executive Partner at Waud Capital with over 25 years in healthcare and technology operating roles across specialty distribution, products, and services sectors, will be the Mopec Group Executive Chairman of the Board of Directors. And he brings deep experience in multi-national supply chain and distribution markets. He has successfully scaled organizations through organic and inorganic strategies, most recently as CEO of Advancing Eyecare.
Stout Capital served as a financial advisor to Waud Capital. Kirkland & Ellis LLP served as legal counsel to Waud Capital. Piper Sandler & Co. served as the exclusive financial advisor to Blackford Capital and Mopec. Varnum LLP served as legal counsel for Blackford Capital and Mopec. The terms of the transaction were undisclosed.
KEY QUOTE:
“This is a very exciting milestone in Mopec’s history for our customers and our entire organization. The partnership and investment from Waud Capital will strengthen our capability set by investing in areas for innovation and growth, ultimately driving greater value to all our constituents. Waud Capital supports our mission, vision, and purpose, which is to enrich life by building the platform for the treatment of disease. We look forward to building on the success we’ve had to date while also accelerating future growth opportunities.”
– Mopec Group CEO Francis X. Dirksmeier
“Mopec is a category leader with incredible brand equity in its core offerings. It is an honor to work with Fran and the Mopec leadership team to continue executing on its stated growth strategy of becoming a comprehensive solutions provider to pathology and lab markets.”
– Brad Staley, an Executive Partner at Waud Capital
“The growing incidence of disease and increasing roles of precision medicine continue to drive demand and a need in the market for value-added partners like Mopec. Mopec offers a differentiated solutions approach to serving pathology and lab customers’ needs and has built valuable, long-term partnerships. We are excited to partner with the Mopec team to pursue strategic growth initiatives and expand equipment, consumables, and service offerings to its customers.”
– Mike Lehman, Principal at Waud Capital
“This investment is part of our dedicated Medical Device & Supply Services campaign we launched in partnership with Brad Staley. Mopec is an attractive opportunity that falls squarely within the purview of the campaign thesis and we couldn’t be more excited to partner with Fran and the Mopec team. The partnership with Mopec is a textbook example of leveraging Waud Capital’s differentiated approach to investing by partnering with experienced executive talent in companies and sectors where we have real conviction.”
– Kyle Lattner, Partner with Waud Capital
