Nashville, Tenn., August 14, 2020 – Gen Cap America, Inc. announced today that it has acquired Eastern Business Forms (“EBF”) in partnership with management. This is Gen Cap’s twelfth platform acquisition made in its seventh fund. Terms of the transaction were not disclosed.
Based in Greenville, South Carolina, EBF is a specialty manufacturer of 903 filter paper used to collect and transport blood and urine samples from newborns to test for over twenty different disorders. Founded in 1964, EBF has decades of experience manufacturing newborn screening devices, and they are the leading provider of 903 diagnostic devices and procedure packs.
Mark Isaacs, Managing Director at Gen Cap America stated, “We are excited to support the team at EBF as they continue their long legacy of quality and reliability in the 903 diagnostics space. EBF for decades has been an industry leader, and we are thrilled to be partners with them as they move into the next phase of growth.”
The EBF management team will be led by the newly appointed President and CEO, Brad Nelson, and Executive Vice President and Chief Marketing Officer, Will Adams, who both have long histories in management positions with the company.
Nelson commented on the transaction: “This was exactly the partnership we had hoped to find as we looked to transition into the next generation of management here at EBF. We’re thrilled to have brought Gen Cap on board and look forward to building on our long track record of success with the team here at EBF.”
This investment represents the twelfth platform acquisition that Gen Cap America has made in Fund VII and the third in this fund in the healthcare space. Previous healthcare investments made in Fund VII include CoreMedical Group (2018) and OPTP (2018).
“EBF fits perfectly with Gen Cap’s investment model of backing management teams at companies with long histories of success,” Barney Byrd, CEO of Gen Cap, commented.
About Gen Cap America
About Gen Cap AmericaGen Cap America, Inc. is a Nashville-based private equity firm that provides equity for management buyouts, division spinoffs, and recapitalizations of profitable, well-established lower middle market businesses. For more information, visit www.gencapamerica.com.
EBF is a specialty manufacturer of 903 filter paper used to collect and transport blood and urine samples from newborns to test for over twenty different disorders. Founded in 1964, EBF is the leading provider of 903 diagnostic devices and procedure packs. EBF’s corporate office and manufacturing facility are located in Greenville, South Carolina. For more information, visit www.ebf-inc.com.