Vestar Capital Partners Announces Sale of DeVilbiss Healthcare To Drive Medical
NEW YORK, NEW YORK – July 2, 2015 – Vestar Capital Partners (“Vestar”), a leading U.S.-based private equity firm, today announced that an investor group which included affiliates of Vestar, Park Avenue Equity Partners, and GoldPoint Partners, as well as senior management of DeVilbiss Healthcare (“DeVilbiss”) has sold DeVilbiss to Drive Medical, effective July 2, 2015.
Terms of the transaction were not disclosed. DeVilbiss, headquartered in Somerset, PA, is a global manufacturer of respiratory and sleep products distributed in more than 80 countries throughout the world. Drive Medical is one of the fastest-growing manufacturers of durable medical equipment in the healthcare industry. Drive’s corporate headquarters are located in Port Washington, NY, and has manufacturing and distribution facilities located throughout North America, Europe and Asia.
“We have been pleased with our investment in DeVilbiss to date and our partnership with CEO Ed Murphy and his dedicated management team,” said Chris A. Durbin, Managing Director, Vestar. “Going forward, we are confident that the new combined Drive team will take DeVilbiss to the next level in the global markets.”
