August 12, 2005
Ortho Organizers, Inc. Announces Change in Ownership
CARLSBAD, CA
Ortho Organizers, Inc. (Ortho or the Company) announced today that it has been acquired by an investor group that includes Ampersand Ventures (Ampersand), Celerity Partners and a new executive team. Headquartered in San Marcos, CA, the Company provides a wide range of orthodontic products to the worldwide dental market. The Company sells directly to US practitioners under its own branded catalogue and through an established network of independent dealers in international markets. The Company has enjoyed consistent revenue growth and profitability throughout its thirty-year history.
George Guttroff, who joined the Company as President and CEO as part of the transaction, commented: “Ortho Organizers has a solid core business and is well positioned for strong, future growth. The Company’s current products are highly respected in the marketplace with a long history of innovation. The backing of our equity partners will enable us to build on this strong foundation by making important investments in sales, marketing and research activities in order to seize key market opportunities. “
David Parker, a General Partner at Ampersand Ventures added, “Ampersand is very pleased to have the opportunity to invest in Ortho Organizers, which has a strong brand name, well-established operations, loyal customers and a dedicated team of employees. These elements provide a strong platform for growth through new products, enhanced sales and marketing, and external initiatives.”
Lindsay Brehm, founder of Ortho, will remain with the Company as a consultant. He commented, “I am excited for the future of Ortho Organizers and all of our employees, customers and clinical instructors. The infusion of additional capital and management expertise will drive the organization to new heights and provide greater opportunities for everyone who helped build this company.”
Also joining the Company’s management team will be Robert Riley, Vice President of Operations, and Chris Kelford, Chief Financial Officer. Mr. Guttroff, Mr. Riley and Mr. Kelford were formerly members of the executive management team at Zimmer Dental.
In conjunction with the financing, Mr. Parker will serve as Chairman of the Board. Additional Board members will include Charles Yie, also an Ampersand General Partner, Stephen Adamson, General Partner for Celerity Partners and Mr. Guttroff. MFC Capital Funding provided debt financing and Omega Capital Partners acted as an advisor for the transaction.
About Ampersand Ventures
Ampersand, a private equity investment firm founded in 1988 as a spin-off of PaineWebber, is dedicated to building equity value through active collaboration. Ampersand pursues a stage-independent investment strategy across a broad range of industry sectors, including life sciences and health care. Ampersand has been an active investor in companies that provide innovative products and services to the life sciences community, including ACLARA Biosciences, Dynex Technologies, ESA, Inc., IBT Reference Laboratory, Medifacts International, NOVEX (sold to Invitrogen Corporation), Stressgen Bioreagents, and Tekcel, Inc.
About Celerity Partners
Celerity Partners is a private equity fund whose objective is to build businesses, in partnership with management, to preeminence in their respective markets. Since its inception in September 1995, Celerity has invested in over 40 companies with an aggregate transaction value in excess of $2 billion. Celerity currently manages approximately $200 million of equity capital and has offices in Los Angeles and Menlo Park, CA.