New York – December 2019 – Tailwind Capital (“Tailwind”), a middle market private equity firm investing in targeted sectors within healthcare, business services and industrial services, has completed the sale of Long’s Drugs Inc. (“Longs”) to PharMedQuest, a portfolio company of Kinderhook Industries, LCC (“Kinderhook”). As part of the transaction, Tailwind will retain an equity stake in the company alongside Kinderhook. Financial terms of the transaction were not disclosed.
Longs is an independent specialty pharmacy in the Southeast, with locations in South Carolina, North Carolina, Georgia, Louisiana and Texas. Under Tailwind’s ownership, Longs significantly scaled its business through both acquisitions and organic growth.
Geoffrey Raker, Partner at Tailwind, commented, “We are thrilled with our investment in Longs. The Longs management team has built a leading specialty pharmacy, deeply committed to providing best-in-class patient services. We believe the company is well-positioned for future growth and look forward to continuing to support the company.”
Christi Epps, Longs CEO, added, “We are very proud of what we have accomplished in partnership with the Tailwind team. We are excited about the opportunity to merge with PharMedQuest and look forward to our next stage of growth.”
Longs is an independent specialty pharmacy in the Southeast, with locations in South Carolina, North Carolina, Georgia, Louisiana and Texas. Longs has expanded its retail footprint to grow a comprehensive specialty pharmacy business which serves patients with chronic illnesses and complex medical conditions such as HIV/AIDS. In addition, Longs has worked to develop relationships with mental health and long-term care facilities in its current geographies, creating additional lines of business and new avenues for the company to provide pharmacy services. For more information, please visit http://www.longsrx.com
About Tailwind Capital:
Tailwind Capital is a middle market private equity firm focused on growth-oriented investments in targeted sectors within healthcare, business services and industrial services. Tailwind partners with experienced management teams and entrepreneurs to transform businesses through organic growth initiatives, acquisitions, and operational and strategic investments. Since inception, Tailwind has managed $3.6 billion of committed equity capital, and has invested in 43 portfolio companies and over 105 add-on acquisitions.