Tailwind Capital Completes Sale of Aircast Incorporated to dj Orthopedics, Inc.businesswire.com - April 10, 2006
NEW YORK & SAN FRANCISCO–(BUSINESS WIRE)–April 10, 2006–Tailwind Capital, a private equity firm focused on control investments in middle-market healthcare, media/communications, and business services companies, announced today that it has completed its previously announced sale of Aircast Incorporated to dj Orthopedics, Inc. for $290 million. Tailwind acquired Aircast Incorporated, a leading designer and manufacturer of orthopedic devices, including ankle bracing products and vascular systems, in December of 2004.
“We are pleased that we were able to produce an excellent return for our investors through Tailwind’s investment in Aircast. The doubling of our investment was generated by working with Aircast’s management team to reinvigorate the product line, increase the penetration of new products, and expand international sales and distribution, while preserving Aircast’s long history of clinical excellence,” said Tailwind Managing Partners Douglas M. Karp and Lawrence B. Sorrel. “By implementing Tailwind’s unique transformation strategy for middle-market companies, we were able to significantly strengthen and grow Aircast’s business and generate very attractive returns for our investors.”
“By implementing Tailwind’s unique transformation strategy for middle-market companies, we were able to significantly strengthen and grow Aircast’s business and generate very attractive returns for our investors.”
About Tailwind Capital
Tailwind Capital is an independent private equity firm that manages the $1.3 billion TWCP Funds and is focused on control investments in the growth sectors of the economy including healthcare, media/communications and business services. Tailwind’s team of investment professionals brings to bear an exceptional combination of private equity and operating experience in addition to capital — providing Capital Plus — working closely with management teams as middle-market businesses confront the challenges of rapid growth, strategic transformation and global competition. Tailwind’s portfolio companies include Concord Music Group (recorded music), Hospital Partners of America (hospital management), NextMedia (radio broadcasting and outdoor advertising), TowerCo (communication services) and Trover Solutions (insurance subrogation services). Tailwind is headquartered in New York with offices in San Francisco. For additional information on Tailwind, please visit www.tailwindcapital.com