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FOR IMMEDIATE RELEASE
Leading Provider of Dental and Surgical Instrumentation and Supplies
February 18, 2008 – Charlotte, North Carolina – Carousel Capital announced today its partnership with CEO Don Waters in the acquisition of Brasseler USA, a leading provider of dental and surgical instrumentation and related consumable supplies. Founded in 1976, Brasseler is based in Savannah, Georgia.
Brasseler markets its products to practicing dentists, dental laboratories, dental schools, hospitals, medical OEMs and surgery centers throughout the United States and Canada. Over its 32 year history, the company has established itself as a leading brand in the dental and surgical supply markets and has an unrivaled reputation for delivering high quality instrumentation to its customers. Brasseler’s dental products are marketed through a highly trained direct sales force of more than 200 people. This direct sales model gives Brasseler direct access to its customers, which allows the company to eliminate the layer of cost typically charged by distributors and pass along the resulting savings to its customers.
Brasseler’s Dental Division offers rotary products, power equipment, endodontic products, hand instruments and other products used in the cleaning, diagnosis, treatment and repair of teeth and underlying tooth structures. The company’s Medical Division markets bone blades and burs; power equipment and twist drills; and other products used primarily in orthopedic, neuro and ENT surgery applications.
Carousel Capital is partnering with the current CEO of Brasseler USA, Don Waters, in the acquisition of the company. Following the transaction, Mr. Waters will have significant ownership in the business, as will certain members of his management team.
“This transaction represents an exciting new chapter in the history of Brasseler USA,” said Waters. “Carousel was the right choice of a partner for us, given the resources that they bring to our company and the cultural fit with our management team.”
“We are delighted to have the opportunity to work in partnership with Don and his management team in sustaining the success that has been accomplished at Braessler USA,” said Charles Grigg, Partner of Carousel Capital. “Their deep relationships and superior product offerings within the dental and medical markets will provide tremendous opportunities for future growth.”
Carousel Capital funded the transaction with equity from its third investment fund, Carousel Capital Partners III. Financing for the transaction was provided by Unitranche Fund LLC, a fund that is co-managed by affiliates of Allied Capital and GE Commercial Finance. Kennedy Covington served as legal advisor to Carousel Capital and Jones Day served as legal advisor to the Company in the transaction.
About Carousel Capital
Carousel Capital is a private investment firm that invests in companies located in the
Southeastern United States. Carousel’s investor base includes institutional investors and a group
of more than 100 current and former CEOs with significant operating experience. Since its
inception, Carousel has invested in 25 companies primarily in three targeted growth sectors:
business services; consumer products and services; and healthcare services.
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