Private equity firm Ancor Capital Partners announced Tuesday that it has acquired WellSpring Pharmaceutical Corporation, a manufacturer and marketer of specialty prescription and over-the-counter products. This is Ancor’s fifteenth acquisition in the healthcare market.
Robert A. Vukovich, MD, founder, president and CEO of Sarasota, Fla.- and Toronto-based WellSpring, reinvested in the business and will remain on the company’s Board of Directors.
“I am pleased to have found a buyer who will continue the high quality standards that WellSpring has established and feel I have left the company in very capable hands,” said Vukovich.
Ancor will draw on its previous experience with acquiring healthcare companies as it brings WellSpring into the fold.
“We built Avail Medical into the world's largest contact manufacturer of sterile medical products from a small medical and industrial manufacturer when we bought the original platform company in 1995", said Timothy J. McKibben co- founder of Ancor Capital. “We see the same type of opportunity to replicate our best-in-class policies and procedures in WellSpring to become a premier player in its product and services.”
Ancor, based in Fort Worth, Texas, is an operations-oriented private equity firm focused on lower middle-market manufacturing and distribution companies with EBITDA of $5-$15 million. The company worked with Sentinel Capital and Yukon Capital to complete the WellSpring acquisition.
Terms of the deal were not disclosed.