New York private equity firm Blue Wolf Capital Partners LLC has acquired a majority stake in North American Rescue LLC.
North American Rescue, headquartered in Greenville, South Carolina, supplies medical products, including tourniquets, chest seals and decompression needles, to the military, law enforcement and first-responder markets. Terms of the investment were not disclosed.
Blue Wolf expects to grow the company organically and through add-on acquisitions. The firm is invested in a few other health care companies, including ModernMD and the Brooklyn Hospital Center. In October, Blue Wolf portfolio company Channel Technologies Group acquired Materials Systems Inc. The firm closed a $300 million fund in July 2013.
The transaction comes at a busy time for health care deals. Recent medical device deals include Cardinal Health's purchase of Johnson & Johnson's Cordis unit for about $2 billion, also announced March 2, and the merger of Cyberonics Inc. and Sorin Spa, announced in February.
For more on health care, see 5 Technologies That Drove Health Care M&A in 2014.