Gen Cap America acquired Eastern Business Forms (EBF) in partnership with management. This is Gen Cap’s 12th platform acquisition made in its seventh fund. Terms of the transaction were not disclosed.
Based in Greenville, SC, EBF is a specialty manufacturer of 903 filter paper used to collect and transport blood and urine samples from newborns to test for more than 20 different disorders. The company was founded in 1964.
“We are excited to support the team at EBF as they continue their long legacy of quality and reliability in the 903 diagnostics space. EBF for decades has been an industry leader, and we are thrilled to be partners with them as they move into the next phase of growth,” Mark Isaacs, managing director at Gen Cap America, said.
The EBF management team will be led by Brad Nelson as the newly appointed president and CEO and Will Adams as executive vice president and chief marketing officer.
“This was exactly the partnership we had hoped to find as we looked to transition into the next generation of management here at EBF. We’re thrilled to have brought Gen Cap on board and look forward to building on our long track record of success with the team here at EBF,” Nelson said.
As noted previously, this investment represents the 12th platform acquisition that Gen Cap America has made in Fund VII and the third in this fund in the healthcare space. Previous healthcare investments made in Fund VII include CoreMedical Group (2018) and OPTP (2018).
“EBF fits perfectly with Gen Cap’s investment model of backing management teams at companies with long histories of success,” Barney Byrd, CEO of Gen Cap, said.