Transaction Marks the Fourth Portfolio Realization for RoundTable Equity Fund III and Fifth Portfolio Realization for RoundTable Equity Fund IV
LAKE FOREST, IL, January 2, 2024 – RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today that it has completed the sale of TIDI Products (“TIDI” or the “Company”) to TJC, LP (“TJC”), a New York based middle-market private equity fund. Terms of the transaction were not disclosed.
TIDI is a manufacturer, marketer, and distributor of a diversified portfolio of medical products focused on supporting caregivers and protecting patients. Based in Neenah, WI, the Company’s broad product set is designed to help customers prevent “Never Events” (medical errors that should never occur), reduce costs, increase efficiencies, and drive better patient outcomes.
TIDI is a recognized industry leader in falls prevention and patient safety products, building on the 86-year history of its Posey® brand. The Company’s innovative and proprietary drapes are utilized in the OR to help preserve sterility and lower the risk of surgical site infections, with leading products such as C-Armor® Drape and Sterile-Z® Back Table Cover. TIDI also manufactures a range of other acute and non-acute products including Grip-Lok® securement devices, the Zero-Gravity® suspended radiation protection system, AquaGuard® shower protection products, and infection prevention barriers used in the dental and physician office settings.
RoundTable acquired a majority interest in the Company in partnership with management in July 2015. RoundTable supported the build-out of an acute care direct selling and marketing organization, investments in the senior management team, and executed and integrated several material add-on transactions, positioning the business for sustainable long-term growth.
“On behalf of RoundTable, I would like to thank the outstanding management team and dedicated employees of TIDI for their tireless efforts,” said Joe Damico, a Founding Partner of RoundTable and Chairman of the Board of TIDI. “TIDI plays an important role in ensuring clinicians have the solutions they need to drive improved patient outcomes. We are confident TJC will continue to support these efforts and will be an excellent partner for the Company and its employees going forward.”
Kevin McNamara, Chief Executive Officer of TIDI, added, “RoundTable’s industry knowledge, expertise and relationships were instrumental to TIDI and our purpose of supporting caregivers and protecting patients. The business is well positioned for further growth, and we look forward to our new partnership with TJC as we continue to serve our customers.”
“We are impressed by how RoundTable, Kevin and the entire TIDI team have evolved the business into the trusted medical products solutions provider it is today. TIDI has a long and successful legacy in its mission to support caregivers and protect patients, and we are thrilled to partner with the management team to build upon those efforts,” said Dan Williams, Partner and Co-Head of Consumer and Healthcare at TJC.
Moelis & Company LLC and Solomon Partners Securities LLC served as exclusive financial advisors to TIDI with Sidley Austin LLP serving as exclusive legal counsel to the Company. Cain Brothers, a division of KeyBanc Capital Markets, served as financial advisor to TJC with Winston & Strawn LLP as legal counsel.
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs, and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable has raised $4.25 billion in committed capital, including six equity funds totaling $3.65 billion and three subordinated debt funds totaling $600 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.
About TJC
TJC (formerly known as The Jordan Company), founded in 1982, is a middle-market private equity firm that has raised funds with original capital commitments in excess of $26 billion and has a 41-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Diversified Industrials; Technology, Telecom & Power; Logistics & Supply Chain and Consumer & Healthcare. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. TJC has offices in New York, Miami, Chicago, and Stamford. For more information, visit www.tjclp.com.
