HKW Announces the ACG New York Healthcare/Pharma Deal of the Year for the Sale of GMD Distribution
Indianapolis, IN – July 12, 2018 – Hammond, Kennedy, Whitney & Company, Inc. (“HKW”) is pleased to announce that on June 22, 2018, ACG New York and The M&A Advisor announced the Healthcare/Pharma Deal of the Year was awarded for the sale of GMD Distribution (“GMD”) to McKesson Corporation (“McKesson”). GMD, a former portfolio company to HKW, was sold to McKesson in April of 2017. The award, presented to TM Capital, was voted on by a panel of judges from firms focused on middle market mergers & acquisitions. Criteria used by the judges included the importance of the transaction, product, service or dealmaker to the industry, as well as the creativity, resourcefulness, and perseverance it took to complete the deal. For more information on the ACG New York press release announcing the awards, please visit ACG New York Press Release.
“We are honored to receive this recognition for the transaction completed with McKesson last year,” said Mike Foisy, HKW Lead Operations Partner and former board member at GMD. “We were able to successfully position GMD in the marketplace during our hold period, and we would like to thank John Leombruno and Kabeer Baig for their roles in creating a great outcome.”
Caroline Young, HKW Partner, added “During our partnership with GMD, the company experienced strong organic growth and was able to complete an important add-on in the patient services space. This growth, along with operational improvements implemented by the management team, enabled a very competitive sale process and we believe this result helps to underscore HKW’s capability as a valuable capital partner. We appreciate the hard work and dedication to excellence exhibited by TM Capital in this successful transaction.”
HKW is a private equity firm founded in 1903 with offices in Indianapolis and New York. Since 1982, HKW has sponsored 57 platform transactions of lower middle-market companies throughout North America, as well as 61 add-on acquisitions. For further information on HKW, please visit www.hkwinc.com.