DFW Capital Partners announced today that it has completed the sale of its portfolio company, Vigilant Safety Group, which includes its operating subsidiary Copernicus Group IRB, to an affiliate of Arsenal Capital.
DFW originally invested in Raleigh, NC-based Vigilant in 2008, supporting a control recapitalization of the company. In connection with its investment, DFW teamed with of one of its Operating Affiliates, Bruce Tomason, in the due diligence and post-closing strategy development for the business. Upon closing, Mr. Tomason assumed the role of Chief Executive Officer, and led the company through a systematic upgrade of management, systems, and business processes. The result was significant growth in the business during DFW’s ownership period, and repositioning of Copernicus Group IRB into one of the leading, most technologically and quality-driven IRBs in the clinical services industry. Over its 3-1/2 year ownership period, DFW realized a gross IRR in excess of 30% on its investment.
Joining DFW in the Vigilant deal were lenders Prospect Capital and High Point Capital, who also made a meaningful equity co-investment in the original transaction. Lazard Middle Market Investment Banking represented Vigilant in the sale to Arsenal.
About DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies, with an emphasis on healthcare and outsourced business and industrial support services. DFW is backed by both institutional and high-net worth individual investors, and has established a 20+ year track record of success in both building companies, and generating returns for its investors. DFW is headquartered in Teaneck, NJ, and maintains an office in Chevy Chase, MD. For more information contact Keith Pennell, Managing Partner, at (201) 836-6000.