PartsSource brings in minority partners to leverage future growth opportunities
PartsSource, the nation’s leading supplier of replacement medical repair parts for hospital equipment, has completed a minority transaction with Boston-based Polaris Venture Partners and Cleveland-based Primus Capital. PartsSource’s existing management team will leverage this new relationship to continue its fast and profitable growth.
“We are excited to bring on board two investment firms as highly regarded as Polaris and Primus” said President & CEO A. Ray Dalton. “We are confident that both of our new partners will be instrumental in accelerating the company’s growth in 2008 and beyond. We were interested in a business partner that could provide more than just capital and both of these firms fit the bill perfectly.”
PartsSource has been the recipient of multiple local, regional and national awards for growth, community service and profitability over the past five years. PartsSource was ranked the #1 company in Northern Ohio on the prestigious Weatherhead 100 for 2006 in addition to being placed on the Inc Magazine 500 in 2006 and 2007. President and CEO A Ray Dalton was given the “Entrepreneur of the Year” award by the accounting firm of Ernst & Young for 2004 & 2007 and also published his inspirational autobiography; “Proceed with Confidence” in 2005.
“We are excited to bring on board two investment firms as highly regarded as Polaris and Primus” said President & CEO A. Ray Dalton. “We are confident that both of our new partners will be instrumental in accelerating the company’s growth in 2008 and beyond. We were interested in a business partner that could provide more than just capital and both of these firms fit the bill perfectly.”
PartsSource has been the recipient of multiple local, regional and national awards for growth, community service and profitability over the past five years. PartsSource was ranked the #1 company in Northern Ohio on the prestigious Weatherhead 100 for 2006 in addition to being placed on the Inc Magazine 500 in 2006 and 2007. President and CEO A Ray Dalton was given the “Entrepreneur of the Year” award by the accounting firm of Ernst & Young for 2004 & 2007 and also published his inspirational autobiography; “Proceed with Confidence” in 2005.
