Matrix Healthcare Group and Industrial Products Group Announce Transaction Closings
RICHMOND, VA – July 6, 2015 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading middle-market investment bank, is pleased to announce that they have provided corporate advisory services to Arista Laboratories (“Arista”) in the sale of its assets. Arista, based in Richmond, VA, is a leading independent tobacco testing laboratory and subsidiary of Molins PLC. David Keys, who leads the Healthcare Group at Matrix, David Endom and Brady Hill assisted Arista in creating and maintaining a competitive dynamic among a select group of industry participants that resulted in a successful sale for Molins PLC.
In addition, Matrix is pleased to announce the recapitalization of Narcote, LLC (“Narcote” or the “Company”) with LNC Partners (“LNC”). Narcote, headquartered in Piney Flats, TN, is a leading provider of technical textile solutions, including coated and laminated composite fabrics. LNC is a Reston, VA based private investment firm with over $235 million of capital under management. Cary Green, CEO of Narcote, along with Rolf Rupprecht, Executive Vice President, will own a substantial stake of the Company alongside LNC. Exiting shareholders include Charles Green and Harbert Mezzanine Partners II, LP.
Matrix served as exclusive financial advisor to Narcote. The transaction was led by Mike Morrison, David Shoulders, William O’Flaherty and Pratik Thakral. David Shoulders, Director at Matrix, commented, “Cary has built a tremendous business and we are thrilled to have represented him and the Company during this process. We are confident the partnership between Cary, Rolf and the LNC team will allow Narcote to realize the numerous growth opportunities that exist. LNC’s ability to provide both the equity and debt for the transaction streamlined the process and allowed for an expedited closing.”
Cary Green commented, “I am excited to invest alongside LNC. I think this transaction will help us expand our capabilities and continue to serve our growing customer base.” He continued, “Matrix has done an outstanding job managing our transaction. Their process certainly identified the ideal partner to continue to grow Narcote’s market presence.”
“We have been very impressed with Cary Green and the organization he has built, and are eager to support the growth initiatives that Narcote will continue to pursue,” added Mark Raterman, Managing Partner at LNC. “Cary and Rolf are tremendous operators and are precisely the type of individuals we seek as partners. We are excited for the opportunities this combination presents.”
Baker, Donelson, Bearman, Caldwell & Berkowitz, PC acted as legal advisor to Narcote in the transaction. LNC was represented by Moore & Van Allen, PLLC.