Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Southern Pharmacy Services
Sale to Guardian Pharmacy
Baird served as the exclusive financial advisor to Southern Pharmacy Services
Southern Pharmacy Services (“Southern”), a portfolio company of Lake Capital, has been acquired by Guardian Pharmacy, LLC (“Guardian”). Financial terms of the transaction were not disclosed.
Southern is a leading provider of pharmacy services to institutions across North Carolina and Virginia. Through its two pharmacy locations, Southern services nearly 300 facilities, including skilled nursing facilities, assisted living facilities, family care homes and group homes. As one of the largest institutional pharmacies in its core market, Southern has established itself as a leading platform with a reputation for superior customer service.
Guardian is an Atlanta-based institutional and specialty pharmacy company with a focus on service and patient care. Guardian serves long-term care patients in assisted living and skilled nursing facilities, offering specialty packaging solutions, delivery and consulting / formulary management to its clients. Additionally, it serves other specialty patients with specialized pharmacy services, such as behavioral-health medications. With the acquisition of Southern, Guardian delivers these services through a total of 13 pharmacy locations.
Lake Capital is a private equity firm that selectively invests in middle-market, serviced-based companies with the potential for growth. With more than $1.3 billion in equity commitments under management, Lake Capital typically commits $50-75 million to each of its initiatives. Its focus is on building leading business services enterprises through organic and acquisition-enhanced growth.