Project Description

StatLab Medical Products

Prairie Capital Fund IV

Location McKinney, TX
Transaction Type Growth Buyout with Management
Investment Date September 2009
Exit Date May 2017
Buyer Cressey & Company
Business

Distributor of histology, cytology, and other consumable supplies to anatomical pathology laboratories primarily engaged in cancer-related diagnostics throughout the United States.

Industry Healthcare

Investment Rationale

  • The Company maintained a proven track record of consistent profitable growth
  • Numerous growth opportunities via geographic expansion and product line extensions
  • A higher incidence rate of disease in an aging population, advances in diagnostic and genetic testing, and the early detection of diseases provided strong industry fundamentals
  • The Company generates strong free cash flow from a diverse customer base across various economic cycles
  • Ability to enhance margins through strategic vertical integration

Value Add

  • Human Capital
  • Sales & Marketing
  • Technology
  • Infrastructure
  • Add-on Acquisitions

I chose to work with Prairie Capital because they are hard-working and transparent, but above all – successful. The reality is there is a scorecard, and if you are competitive it’s important to work with a firm with a track record of consistent success. The second reason is that in my experience, they always do the right thing.

Michael Aubrey, Former CEO of StatLab
Prairie’s greatest strength is their follow-through. What separates Prairie from other private equity partners is their unique combination of experience and humility. Our team always felt Prairie valued and were grateful for the work we put in to grow our business.

Prairie is ‘Midwestern’ in all the right ways – humble, hard-working, purposeful people with a sincere gratitude for the relationships in their lives.

Dan Henn, StatLab