Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, announced today that they have partnered with Beverly Capital and management to acquire Alpaca Audiology (Alpaca) a Mountain Lakes, New Jersey-based buying group for audiologist practices providing negotiated pricing on hearing aids, consumables for hearing specialists, ear molds, and practice management software. Beverly Capital, a private equity firm based in Chicago, has extensive investment experience in group purchasing organizations and clinical roll-ups. Terms of the transaction were not disclosed.
Alpaca Audiology (www.alpacaaudiology.com) consists of two business units: a portfolio of audiology clinics and a buying group/negotiating network for audiologist practices, with free membership and numerous member benefits. The company is focused on acquiring buying groups and clinics, both directly and in partnership with hearing aid manufacturers.
Said Brian Vesely, CEO of Alpaca, “We are very excited about partnering with Thompson Street Capital Partners and Beverly Capital as our first institutional investors, and believe that this investment will provide a strong base from which to continue the growth and success Alpaca has already achieved. The expertise that TSCP and Beverly bring to the table in healthcare services, clinical practice investment and buyers groups will be invaluable as we work together to create a unique asset in the industry.”
Jim Cooper, Managing Partner, TSCP said, “By owning both clinics and a buyers group, Alpaca Audiology has created a virtuous relationship between business units that we have not seen in other clinic-based industries. We’re looking forward to supporting Alpaca’s growth on the clinical side as well as through the buyers group. The management team has deep industry knowledge and we are excited about supporting their growth.”
