[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather
Santa Clarita CA
Sunny
Sunny
79°F
 
Calendar
Today in
S.C.V. History
December 15
1987 - Incorporation: Santa Clarita officially becomes a city [story]


precisiondynamicslogoBrady Corporation, a world leader in identification solutions, announced today that it has acquired Precision Dynamics Corporation from Water Street Healthcare Partners, a strategic private equity firm focused exclusively on the health care industry, in a cash transaction for $300 million, subject to customary working capital and post-close adjustments. PDC, with annual sales of approximately $173 million, is a leader in identification products primarily for the healthcare market, specializing in patient wristbands, specialty labels and identification systems used in hospitals to reduce medical errors and integrate and share patient data.

PDC, founded in 1956, is based in Valencia, Calif., and employs approximately 1,000 people globally. The company has manufacturing facilities in Tijuana, Mexico and Port Orange, Fla., and a European sales office with light manufacturing in Nivelles, Belgium. PDC’s healthcare wristband and label systems are used by most U.S. hospitals and reach every touch point in the delivery of patient care, from admissions to discharge. PDC’s products also meet important patient safety guidelines of The Joint Commission, FDA, AHA, and HIPAA. In addition to its primary focus on healthcare identification, PDC also offers wristband products for the leisure and entertainment industries and for crowd control and law enforcement utilizing technologies including RFID, holograms and barcodes. PDC products are sold through a direct sales force, distributors and system integrators.

“The acquisition of PDC, a leader in the U.S. healthcare identification space, provides an important anchor position for Brady in the attractive healthcare market and fits well with our mission to identify and protect premises, products and people, and our vision to be the market leader in all of our businesses,” said Brady President and Chief Executive Officer Frank M. Jaehnert. “PDC’s highly regarded management team comes with deep experience in the healthcare identification space and has been very successful in building PDC into the strong business that it is today. PDC’s large customer base, strong channels to market and broad product offering together with Brady’s laboratory and people identification products, deep materials and printer expertise, and global footprint, make this a very attractive business combination and provide a strong foundation to build upon PDC’s market leading position.”

Curt Selquist, an operating partner with Water Street and chairman of PDC stated, “Over the last five years, we expanded and enhanced PDC’s product development and manufacturing capabilities, and significantly broadened its portfolio of identification products through strategic acquisitions. The sale of PDC to such a highly regarded market leader in identification solutions fulfills our mission of having PDC end up with a company that continues this mission of long-term profitable growth.”

Excluding one-time acquisition-related costs, Brady expects this acquisition to be slightly accretive to earnings per diluted share for the remainder of fiscal 2013, and $0.10 to $0.15 accretive to earnings per diluted share in the first full fiscal year. The non-recurring acquisition-related costs are expected to include a one-time, non-cash tax charge of $25 to $30 million related to the repatriation of cash to the U.S. in financing this acquisition and $8 to $12 million of other acquisition-related expenses.

Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect premises, products and people. Its products help customers increase safety, security, productivity and performance and include high-performance labels and signs, safety devices, printing systems and software, and precision die-cut materials. Founded in 1914, the company has more than 1 million customers in electronics, telecommunications, manufacturing, electrical, construction, , medical and a variety of other industries. Brady is headquartered in Milwaukee and as of July 31, 2012, employed approximately 6,900 people at operations in the Americas, EMEA and Asia-Pacific. Brady’s fiscal 2012 sales were approximately $1.32 billion. Brady stock trades on the New York Stock Exchange under the symbol BRC. More information is available on the Internet at www.bradycorp.com or www.pdcorp.com .

 

Statement from seller, Water Street Healthcare Partners

Water Street Healthcare Partners, a strategic private equity firm focused exclusively on the health care industry, announced today that it has sold Precision Dynamics Corporation (“PDC”) to Brady Corporation in a cash transaction for $300 million, subject to customary working capital and post-close adjustments. Water Street divested PDC after spending five years building the company into a global leader in patient safety identification (ID) through a combination of strategic acquisitions and organic initiatives. Headquartered in Valencia, Calif., PDC designs and manufactures products used by hospitals across the United States to reduce medical errors, and integrate and share patient data.

Water Street partnered with PDC’s founders and management team in 2007 to invest in the company when it specialized in health care ID wristbands. Two years later, Water Street facilitated PDC’s acquisition of TimeMed Labeling Systems, Inc. to expand the company’s products into health care labeling systems. In 2010, Water Street initiated an industry-leading merger between PDC and The St. John Companies to create the world’s foremost provider of health care wristbands, specialty labels and identification solutions. The firm recruited an experienced management team to lead the combined company. It invested in PDC’s infrastructure including a new headquarters, manufacturing facility and technology platform to more effectively serve customers.

“PDC is an excellent example of the long-term value Water Street can create in partnership with founders and executives of middle-market health care companies. When we first met with PDC’s founders, we proposed a strategic path to build on the company’s strength in hospital ID wristbands. We invested in the company’s product development and manufacturing capabilities, and significantly broadened its product portfolio to transform PDC into a global leader in patient safety identification,” said Curt Selquist, an operating partner with Water Street and chairman of PDC. “We are pleased that the successful execution of our strategy resulted in a highly regarded market leader purchasing PDC to further its long-term growth.”

Brady President and Chief Executive Officer Frank M. Jaehnert stated, “The acquisition of PDC provides an anchor position for Brady in the attractive health care identification space and fits well with our mission to identify and protect premises, products and people. The company’s management expertise, large customer base, strong channels to market, and broad product offering have made PDC the domestic market leader in health care identification. The strengths of PDC, together with Brady’s health care identification product offering, deep materials and printer expertise, and our global footprint, make this a very attractive business combination.”

 

About Water Street

Water Street is a strategic private equity firm focused exclusively on health care. The firm has a strong record of building market-leading companies across key growth sectors in health care. It has worked with some of the world’s leading health care companies on its investments including Gentiva, Johnson & Johnson, Medtronic and Smith & Nephew. Water Street’s team is comprised of industry executives and private equity professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information about Water Street, visit waterstreet.com.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


Latest Additions to SCVNews.com
SetPoint Medical, a Valencia-based biomedical company developing therapy for chronic inflammatory diseases, has received approval from the FDA to initiate a pilot trial in the U.S. for patients with drug-refractory rheumatoid arthritis.
FDA OK’s SetPoint Bioelectronic Therapy Study for Rheumatoid Arthritis
The regular Planning Commission meeting scheduled for Tuesday, December 19 has been canceled, according to a notification from the city of Santa Clarita today.
City Cancels Dec. 19 Planning Commission Meeting
The next meeting of the Los Angeles County Board of Supervisors is set for Tuesday, December 19, starting at 9:30 a.m.
Dec. 19: L.A. County Board of Supervisors Meeting
L.A. County's Bringing Our Loved Ones Home Task Force officials unveiled their final recommendations, endorsing a plan to use a voluntary system of trackable bracelets to find people prone to wandering, like those suffering from Alzheimer’s or autism.
County Task Force Calls for Tracking Bracelets to Locate Lost Individuals
The Community Development Commission of the county of Los Angeles looks back on 35 years of advancing its core program areas: affordable housing and housing, community and economic development.
County Community Development Commission Marks 35th Anniversary
The Los Angeles County Sheriff's Department looks back at five years of work by its Domestic Highway Enforcement Team, which has disrupted the operations of the drug cartels by confiscating millions of dollars in illegal drugs and drug money.
Elite LASD Drug Enforcement Team Disrupts Cartel Operations
The National Weather Service has called a Fire Weather Watch for this weekend for Los Angeles and Ventura County mountains and valleys including the Santa Clarita Valley due to gusty northeast wind and low relative humidity.
Weekend Fire Weather Watch Called for SCV
The California Air Resources Board approved a $663 million low-carbon transportation plan Thursday to increase the use of clean cars, heavy-duty trucks, buses and freight equipment.
Air Resources Board OK’s $663 Million for Clean Vehicles
The Santa Clarita Valley Sheriff's Station has released its public safety and crime information report for Saugus (Zone 4) for December 4-10, 2017.
Crime Blotter: Shoplifting, Petty Theft in Saugus
California Attorney General Xavier Becerra has filed his strong opposition to the Trump Administration’s illegal attempt to suspend the 2015 Clean Water Rule for two years.
California AG, 10 Others Oppose Feds’ Suspension of Clean Water Rule
1987 - Incorporation: Santa Clarita officially becomes a city [story]
With an offense that challenged the program’s single-season goals record, The Master’s University women’s soccer team was almost almost never out of any game it played: The Mustangs were always within striking range.
Lady Mustangs Within Range of Directors’ Cup Top Spots
When Ed Jackiewicz met Tera Trujillo in spring 2015, she was studying at a desk she’d carried to the corner of the California State University, Northridge soccer field, in a “time out” of sorts, unable to practice because she’d just earned a D in an economics class.
CSUN’s “Under Armour Faculty” Promotes Academic Success in Student-Athletes
When Rafael Munoz recalls his time at the Layer 8 Computer Security Club at California State University, Northridge, he feels proud and thankful.
CSUN’s Tech Education Makes Top 10 List
The city of Santa Clarita Arts and Events division is currently seeking proposals for solo exhibits for 2018 in the gallery space at The MAIN, the City’s newest arts venue in Old Town Newhall.
City Seeking Artists for 2018 Solo Exhibits
NORTHRIDGE, Calif.---CSUN Men's Basketball returns to the road for the final time in the non-conference season this weekend.
CSUN to Face-Off Against Formal Rival Eastern Washington
Here is a list of Santa Clarita arts-related events for Friday:
Dec. 15: Santa Clarita Arts Calendar
This Friday and Saturday (Dec. 15-16), The Sharon Disney Lund School of Dance brings their annual Winter Dance Concert to the REDCAT stage.
Dec. 15, 16: Sharon Disney Lund School of Dance Concert at REDCAT
The William S. Hart Union High School District Governing Board has approved naming Dr. Collyn Nielsen as Chief Administrative Officer and Jan Hayes-Rennels as Director of Special Programs and Staff Development.
Hart Appoints Nielsen, Hayes-Rennels to District Office Positions
NORTHRIDGE, Calif. - The CSUN men's volleyball team was picked to finish third in the inaugural Big West Men's Volleyball Preseason Coaches Poll announced Thursday.
Big West Pre-Season Coaches Poll Puts Matadors Volleyball at No. 3
A 44-year-old transient was arrested by SCV Sheriff's Station deputies Wednesday afternoon after he allegedly tried to pick up his 8-year-old niece from a school in Santa Clarita.
Suspect Arrested in Attempted Kidnapping
It was a night to honor exceptional mentors at California State University, Northridge, but the five recipients of the 2017 Don Dorsey Excellence in Mentoring Awards just wanted to talk about their students.
CSUN Pays Tribute to Mentors Who Have Made a Difference
The words leapt right off the page and hung in the air, heavy, encircling the audience. Their creator stood, offering his gifts of verse — shared in a powerful baritone voice.
Literary Star Power Comes to CSUN
While critical fire conditions continue through Friday, the final numbers for the Rye Fire have been released.
Officials Release Final Numbers on Rye Fire
The William S. Hart Union High School District Governing Board held it’s annual reorganizational meeting Wednesday night, naming Steve Sturgeon as Board President.
Steve Sturgeon Named 2018 Hart Board President
Castaic Elementary School is collecting gently used children's clothing and toys for the victims of the Creek Fire in Sylmar.
Local School Collecting Clothes, Toys for Creek Fire Victims
Gusty Santa Ana winds fanned the Thomas Fire's eastern flank Thursday, prompting officials to call for mandatory evacuations for areas near Fillmore.
Officials Issue Evacuation Orders for Fillmore Residents
SACRAMENTO – California Attorney General Xavier Becerra issued the following statement in response to the Federal Communications Commission’s (FCC) decision to repeal net neutrality rules instituted in 2015. These rules protect consumers' access to online content without interference or manipulation by an internet service provider:
Becerra Condemns FCC’s Net Neutrality Ruling
Washington—Senator Dianne Feinstein (D-Calif.) released the following statement Thursday on the fifth anniversary of the Sandy Hook Elementary School shooting:
Feinstein Issues Statement on Five Year Anniversary of Sandy Hook
SACRAMENTO – California Attorney General Xavier Becerra today filed a lawsuit against the U.S. Department of Education and its Secretary, Betsy DeVos, for refusing to process debt relief claims submitted by tens of thousands of students who took out federal student loans to attend Corinthian Colleges, Inc. (Corinthian).
Becerra Lawsuit Alleges Devos, Education Department Refusing to Process Debt Relief Claims
CAL FIRE has released a statement on its Facebook page regarding the death of one of their own:
CAL FIRE Engineer Killed Battling Thomas Fire
1931 - Season's first major storm deposits 9 inches of snow in Newhall, 10 in Saugus [story]
The Sheriff’s Department and CHP will participate in a special year-end "Drive Sober or Get Pulled Over" enforcement campaign from December 15 through January 1.
LASD, CHP Join ‘Drive Sober or Get Pulled Over’ DUI Campaign
The Caribbean is back, better than ever, and Valencia-based Princess Cruises is offering the best fares of the season during the “Exclusively Caribbean Sale,” on 7-, 8-, 10-, 14-day sailings departing February through April 2018.
Princess Cruises ‘Exclusively Caribbean Sale’ Offers Season’s Best Fares
Designer and animator Jamie Tan (Film/Video BFA 15) started baking cakes and fancy French pastries as a meditative practice to help her balance the 20 credit semesters she was taking as a student at CalArts.
Jamie Tan on Art, Baking for Rojas’ ‘Theater of Disappearance’