Mopec: Successful Sale to Waud Capital Partners
Deal News | Jan 06, 2025 | Blackford Capital
Blackford Capital, a private equity firm specializing in lower middle market investments, has successfully sold Mopec Group to Waud Capital Partners, another private equity firm based in Chicago. Mopec, headquartered in Madison Heights, Michigan, is a provider of equipment and services for the anatomic pathology sector. Over the 11 years under Blackford's ownership, Mopec underwent significant growth with strategic investments in infrastructure and operational systems. Waud Capital aims to continue this trajectory with a focus on innovation and growth, while maintaining Mopec's core mission of enhancing diagnostic accuracy and disease treatment. Legal and advisory roles were supported by Varnum LLP, Piper Sandler & Co., Kirkland & Ellis LLP, and Stout Capital. The terms of the transaction were not disclosed.
Sectors
- Private Equity
- Healthcare
- Manufacturing
Geography
- United States – The companies and activities mentioned are based in the U.S., specifically highlighting locations in Michigan and Illinois.
- Michigan – Mopec Group is headquartered in Madison Heights, Michigan, making it a focal geographic area.
- Illinois – Waud Capital Partners is based in Chicago, Illinois, hence relevant to the geography.
Industry
- Private Equity – The article focuses on private equity transactions involving Blackford Capital and Waud Capital Partners.
- Healthcare – Mopec Group operates in the anatomic pathology and laboratory equipment sector, which is a key part of the healthcare industry.
- Manufacturing – Mopec is described as a manufacturer of equipment and consumables, linking it to the manufacturing industry.
Financials
- Not disclosed – Terms of the transaction between Blackford Capital and Waud Capital were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blackford Capital | Seller | Company | A private equity firm specializing in lower middle market investments, headquartered in Grand Rapids, Michigan. |
| Mopec Group | Target Company | Company | A branded supplier and manufacturer of anatomic and forensic pathology equipment, headquartered in Madison Heights, Michigan. |
| Waud Capital Partners | Buyer | Company | A Chicago-based private equity firm focusing on the healthcare and software & technology sectors. |
| Varnum LLP | Legal Advisor | Company | Legal counsel for Blackford Capital and Mopec. |
| Piper Sandler & Co. | Financial Advisor | Company | Exclusive financial advisor to Blackford Capital and Mopec. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Legal counsel for Waud Capital Partners. |
| Stout Capital | Financial Advisor | Company | Financial advisor to Waud Capital Partners. |
| Francis X. Dirksmeier | CEO | Person | CEO of Mopec Group who commented on the transaction. |
| Jeff Johnson | Chairman | Person | Chairman of Mopec Group and Managing Director at Blackford Capital. |
| Martin Stein | Founder and Managing Director | Person | Founder and Managing Director at Blackford Capital. |
| Carmen Evola | Managing Director | Person | Managing Director at Blackford Capital, involved in Mopec's leadership. |