Daily News: February 21, 2012

High Road Capital Partners’ Advanced Sleep Completes Acquisition


High Road Capital Partners announced that its portfolio company Advanced Sleep Medicine Services, Inc. has completed the acquisition of Pacific Sleep Medicine Services, a provider of sleep disorder diagnostic services with laboratory facilities throughout southern California. The acquisition closed on February 17, 2012.

Pacific Sleep will become part of Advanced Sleep’s existing network of California-based sleep disorder diagnostic facilities. Advanced Sleep was acquired by High Road in May 2010.

“The addition of Pacific Sleep’s facilities is part of our overall strategy to expand Advanced Sleep’s presence throughout California both organically and through acquisitions,” said Bill Connell, the High Road partner who led the transaction.

“We are working to build upon our recent facility openings by acquiring well-run existing laboratories, like those of Pacific Sleep,” said Frank Zarka, president and CEO of Advanced Sleep Medicine Services. “This acquisition helps us further penetrate the Greater Los Angeles area and expand our presence southward, into the San Diego area, and westward, into the Palm Desert region.”

This is Advanced Sleep’s second add-on acquisition under High Road’s ownership. It previously acquired Sleep Diagnostics of the Coachella Valley, a provider of sleep diagnostic services with laboratory facilities in Indio and Hemet, CA.

Connell and Dan Gaspar, vice president, led the transaction for High Road. High Road associate Paul Langley also worked on the transaction.

High Road has completed 16 transactions – eight platform investments and eight add-on acquisitions – for its debut fund, High Road Capital Partners Fund I, LP.

Advanced Sleep Medicine Services is a provider of sleep disorder diagnostic services and related durable medical equipment.

High Road Capital Partners is a private equity firm focused on smaller middle-market transactions.