Lebhar-Friedman has sold Dowden Health Media to High Road Capital Partners
Lebhar-Friedman, Inc. announced today that it has sold Dowden Health Media, which provides healthcare marketing services, to the private equity firm High Road Capital Partners. Financial terms of the deal were not disclosed.
“We’ve known of Dowden Health Media for a long time,” said Bob Fitzsimmons, managing partner of High Road. “We’ve always liked Dowden. It’s a profitable company. It’s growing, and it’s in a good space.”
Dowden is made up of three divisions: the Medical Communications Group, which creates educational content to help pharmaceutical companies reach physicians; the Custom Media Group, which provides custom editorial content to hospitals; and eCrossings Media Group, which develops electronic media solutions.
High Road said it plans to build Dowden via acquisition. “We look forward to working with Dowden’s strong, experienced management team to broaden Dowden’s offerings through organic growth and strategic add-on acquisitions,” High Road partner Jeff Goodrich said in a statement.
After the sale of Dowden Health Media, Lebhar-Friedman now operates four main retail brands: Chain Store Age, Drug Store News, Home Channel News and Retailing Today.
DeSilva+Phillips acted as financial advisor to Lebhar-Friedman. The transaction team included: Roland DeSilva, Managing Partner; Ken Collins, Partner; and Jessica Luterman Naeve, Managing Director. Fifth Third Bank provided senior debt financing for the acquisition.
Lebhar-Friedman, Inc. has leveraged an 80-plus-year history of publishing excellence into one of the country’s leading B2B and healthcare media companies.Headquartered in New York City, with leading B2B titles such as Drug Store News and Chain Store Age, Lebhar-Friedman’s business units are dedicated to providing executives, professionals and clients with timely and relevant information online and in print.The Dowden Health Media division is based in Lebhar-Friedman’s office in Montvale, New Jersey.
About High Road Capital
High Road Capital Partners is a leveraged buyout firm focused on smaller middle market transactions. High Road was formed in 2007 and currently manages over $150 million of committed capital. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level, with the expectation of doubling or tripling EBITDA during the course of its ownership through a combination of organic growth initiatives and add-on acquisitions. More information on High Road may be found on its website, www.highroadcap.com.
|Transaction Type||M&A Sell-side|
|Client||Dowden Health Media|
|Sold to||High Road Capital Partners|