CHICAGO, Jan. 6, 2025 /PRNewswire/ — Waud Capital Partners, a leading growth-oriented middle-market private equity firm, has announced a significant expansion of its healthcare portfolio with the acquisition of Mopec Group (“Mopec”). This strategic move sees Waud Capital Partners taking ownership of Mopec from Blackford Capital, a lower middle market private equity firm based in Michigan. Mopec Group is recognized as a vertically integrated, branded supplier specializing in equipment, consumables, and services for anatomic pathology and other laboratory end-markets.
Founded in 1992 and headquartered in Madison Heights, Michigan, Mopec’s mission is deeply rooted in supporting pathology and anatomy professionals. The company provides essential products and innovative solutions that advance diagnostic accuracy, enhance safety, and facilitate crucial work in research, education, and disease treatment.
“This acquisition marks an exciting new chapter for Mopec, our customers, and our entire team,” stated Francis X. Dirksmeier, CEO of Mopec Group. “The partnership with Waud Capital Partners and their investment will significantly enhance our capabilities. We plan to invest in innovation and growth initiatives that will deliver even greater value to our customers. Waud Capital Partners shares our mission, vision, and purpose – to enrich life by building the platform for advancements in disease treatment. We are eager to build upon our existing success and accelerate future growth opportunities with their support.”
Brad Staley, an Executive Partner at Waud Capital Partners, will assume the role of Executive Chairman of the Board of Directors at Mopec Group. Staley brings over 25 years of experience in healthcare and technology operating roles, with expertise in specialty distribution, products, and services sectors. His background in scaling organizations through both organic and inorganic strategies, most recently as CEO of Advancing Eyecare, will be invaluable to Mopec’s growth trajectory.
“Mopec is an undisputed leader in its category, boasting exceptional brand recognition within its core markets,” commented Mr. Staley. “I am honored to collaborate with Fran and the Mopec leadership team to further their growth strategy of becoming a comprehensive solutions provider for pathology and lab markets. Waud Capital Partners is committed to supporting this vision and leveraging our resources to accelerate Mopec’s success.”
Mike Lehman, Principal at Waud Capital Partners, further emphasized the strategic rationale behind the acquisition. “The increasing prevalence of disease and the growing importance of precision medicine are driving significant demand for value-added partners like Mopec. Mopec’s differentiated solutions-oriented approach and commitment to building long-term partnerships with pathology and lab customers align perfectly with market needs. Waud Capital Partners is excited to partner with the Mopec team to pursue strategic growth initiatives and expand their offerings across equipment, consumables, and services.”
Kyle Lattner, Partner at Waud Capital Partners, highlighted the acquisition’s fit within the firm’s investment strategy. “This investment in Mopec is a cornerstone of our dedicated Medical Device & Supply Services campaign, launched in partnership with Brad Staley,” said Lattner. “Mopec represents a highly attractive opportunity that aligns perfectly with our investment thesis. We are thrilled to partner with Fran and the Mopec team. This partnership exemplifies Waud Capital Partners’ differentiated investment approach: collaborating with experienced executive talent in sectors and companies where we have strong conviction.”
Stout Capital acted as financial advisor to Waud Capital Partners in this transaction. Legal counsel was provided by Kirkland & Ellis LLP. Piper Sandler & Co. served as the exclusive financial advisor to Blackford Capital and Mopec, with legal counsel from Varnum LLP. The specific terms of the transaction remain undisclosed.
About Mopec Group
Mopec Group, headquartered in Madison Heights, Michigan, is a leading vertically integrated supplier and manufacturer specializing in high-quality anatomic and forensic pathology equipment, technology, consumable products, and services. Established in 1992, Mopec distinguishes itself through continuous innovation, a rigorous engineering process, an outcome-driven approach, and unwavering commitment to quality. Mopec is dedicated to elevating pathology by providing specialized solutions for anatomic and forensic pathology and various other labs within hospitals, universities, morgues, and diverse markets. For more information, please visit www.mopec.com.
About Waud Capital Partners
Waud Capital Partners, based in Chicago, is a growth-focused private equity firm with over three decades of experience in the investment sector. Waud Capital Partners strategically partners with experienced management teams to build market-leading companies within the software & technology and healthcare industries. Since its inception in 1993, Waud Capital Partners has successfully completed over 460 investments, encompassing both platform companies and subsequent growth opportunities. For further details about Waud Capital Partners, please visit www.waudcapital.com.
Investment Professional Contact:
Kyle Lattner, Partner
[email protected]
Business Development Contact:
Phil Olson, Partner
[email protected]
Investor Relations Contact:
Jessica Schmitt, Head of Investor Relations
[email protected]
SOURCE Waud Capital Partners
