Carousel Capital announced today that it has successfully exited its investment in Brasseler USA to publicly traded Henry Schein, Inc. (NASDAQ: HSIC). Carousel had recapitalized Brasseler USA with CEO Don Waters in 2008. In 2010, Brasseler USA entered into a strategic partnership with Henry Schein which provided partial liquidity to its shareholders while providing an opportunity for continuing ownership. This structured transaction resulted in substantial increases in the return for Carousel Capital and the Brasseler USA management team.
Brasseler USA, based in Savannah, GA, markets its products to practicing dentists, dental laboratories, dental schools, hospitals, medical OEMs and surgery centers throughout the United States and Canada. Over its 40 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 a private investment firm that invests in companies located in the Southeastern United States. Carousel’s investor base includes institutional investors and an elite group of more than 100 current and former CEOs with significant operating experience. Since its inception, Carousel has invested in 34 companies primarily in three targeted growth sectors: business services; consumer services; and healthcare services.