EQ Capital Strategies Advises Texas-Based Wholesale Pharmacy Supplier, Redmond and Greer Pharmacy Supply, on Recapitalization
Austin, Texas – July 10, 2017
EQ Capital Strategies (EQ), an Austin-based merger-and-acquisition advisory firm that provides buy and sell side advisory services to small and middle market companies, announced today it has successfully led a recapitalization effort for Redmond & Greer Pharmacy Supply (Redmond & Greer) with the help of an affiliate of Dallas-based private equity firm, Trive Capital.
Representing Redmond & Greer, EQ Managing Members, Ben Hanson and Tyler Sutliff, guided the pharmaceutical wholesaler throughout the recapitalization process, performing an operational “deep dive,” identifying possible capital opportunities, providing significant diligence and other transaction support, and ultimately securing the relationship with Trive Capital. As Redmond & Greer continues its robust growth, EQ plans to continue to work with the Company and its affiliates to identify and acquire other companies.
Founded by company CEO Andrew Coney, Redmond & Greer is a wholesale pharmaceutical distributor focused on the sale of prescription drugs to pharmacies throughout the United States. Headquartered in Dallas, Texas, the Company provides generic pharmaceuticals to independent pharmacies and medical clinics in 47 states from its three distribution locations.
“Redmond & Greer was ready to expand its business after experiencing significant growth since its founding in March 2016,” said Hanson. “From our first meeting with Andrew and the team in January, it was clear they had a compelling vision for where the company was headed and that the right private equity sponsor would enable that trajectory. We were excited to be beside them every step of the way, from our initial meeting to closing– a little under four months later.”
“It’s an exciting time for our company and our customers. This is a milestone that our team has worked hard to reach, and I’m eager to accelerate our plans for the company,” said Coney. “EQ has been a great partner to the firm, and I value Ben and Tyler’s ability to move quickly, offer sound advice and for their in-depth knowledge of our operations and plans to finance additional growth.”
With greater access to operational resources and capital, Redmond & Greer will be able to continue to grow its business, enhancing its partnerships with suppliers and its distribution network, streamlining operations at all levels and expanding services and product offerings to its customers.
About EQ Capital Strategies
EQ Capital Strategies is an Austin-based merger-and-acquisition advisory firm that provides buy and sell side advisory services to small and middle market companies. In addition to sell-side advisory services to business owners, EQ provides buy-side target identification to private equity, corporate buyers, and high net worth individuals. EQ also provides management and sales consulting services to its clients, coupled with the capacity, on a deal-by-deal basis, to co-invest in appropriate situations. Learn more about EQ Capital at http://eqcapstrategies.com/.
About Redmond & Greer Pharmacy Supply
Headquartered in Dallas, TX, Redmond & Greer Pharmacy Supply is a wholesale distributor of prescription pharmaceuticals. From its three distribution locations, the Company provides full line generic pharmaceuticals to independent pharmacies and medical clinics in 47 states. Learn more about Redmond and Greer: http://www.redmondandgreer.com/.
laurie at eqcapstrategies.com