Generational Equity Advises Eastern Business Forms in Sale to Gen Cap America

By Generational Equity

08/26/2020

Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Eastern Business Forms, Inc., to Gen Cap America. The acquisition closed August 7, 2020 and details were not disclosed.

Located in Greenville, South Carolina, Eastern Business Forms, Inc. (EBF) is a privately-owned company with more than 50 years of experience manufacturing newborn screening devices. EBF is the exclusive provider of 903 filter paper worldwide for diagnostic use and has extensive experience in the design and manufacture of 903 diagnostic devices and procedure packs. The Company has been the exclusive manufacturer of dried blood spot collection devices for Schleicher & Shuell, Whatman, and GE Healthcare. The business was wholly owned by Steve Price and Jane Sewell.

Gen Cap America, (GCA) located in Nashville, Tennessee, and founded in 1988, is a private investment firm. GCA specializes in acquisitions and recapitalizations of middle market businesses. GCA is actively investing Southvest Fund VII, L.P., a $250 million fund which began making investments in 2016. EBF is GCA’s twelfth platform investment that they have made in Fund VII.

Generational Equity Managing Director Don Ho was the dealmaker that successfully closed the transaction. “It was a great honor and privilege for our firm to represent Eastern Business Forms in this transaction. Steve Price and Jane Sewell have done a wonderful job of growing the business; and with the new owners now in place, EBF can execute its ancillary growth initiatives to rapidly grow its business, expand its product and service offering, and better serve its customers. During this process, we had tremendous interest, but was fortunate enough to find the best buyer with Gen Cap America. Given Gen Cap America’s impressive track record, experience in the sector, impressive management team, and sizable resources, I expect tremendous growth and opportunities for EBF in the future,” said Don Ho.

Mr. Ho is a senior dealmaker in Executive Managing Director Michael Goss’ Transaction Group. Chief Revenue and Strategy Officer Terry Johnson and Senior Managing Director Thomas Hamm established the initial relationship with EBF.

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.” He continued, “Additionally, it was a pleasure working with Don and the team at Generational Equity. Their professionalism in managing the process was critical to ensuring a successful result for all parties during a period of so much uncertainty.”

Newly-appointed CEO and President of EBF Brad 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.”

Mr. Nelson also added “Don Ho and the team at Generational Equity were a valuable partner during our recent transaction. Don quickly secured interest from a number of qualified investors and was always available to offer advice and assistance when needed. I would recommend Don and his team to any business owner looking for an experienced and professional advisor during this process.”

Managing Director Don Ho added, “This transaction was also a success due to the hard work and dedication of EBF’s legal team at Haynes and Boone, LLP, which was led by Blaine Statham, Partner, Chase Proctor, Associate, and Omar Shariff, Associate. Their unique skill-sets and practical approach to problem-solving were instrumental given the complexity of this transaction. We were fortunate to work with such great professionals to get another deal closed.”