5th Century Partners, a private investment firm focused on economic and social impacts, has made a majority investment in LSL Healthcare, a manufacturer of single-use medical devices, IV start kits, surgical procedure kits and hospital supplies.
LSL serves group purchasing organizations, integrated delivery networks and other healthcare companies. The company currently has more than 900 SKUs that serve over 3,800 customers across the U.S. 5th Century Partners and LSL will pursue opportunities to build upon LSL’s foundation. The businesses aim to establish a national team that will help LSL expand its reach and market share. As part of the investment, Victor Bridgeman will join LSL as CEO to lead the day-to-day business operations.
“We’re thrilled to partner with a company that so closely aligns with our investment strategy and healthcare expertise but also shares our commitment to improving outcomes and driving impact for communities,” comments Marques Torbert, managing partner at 5th Century Partners.
DLA Piper served as legal counsel to 5th Century Partners, and Kayne Anderson Capital Advisors provided debt financing to support the transaction. Kroll was the sell-side advisor to the transaction.