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

Santa Clarita CA
Partly sunny
Partly sunny
Today in
S.C.V. History
March 23
1886 - Film director Robert N. Bradbury born in Washington state; launched John Wayne's career in Placerita Canyon [watch]

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.


You can be the first one to leave a comment.

Leave a Comment

Latest Additions to SCVNews.com
CalArts alum Lauren Elizabeth Baba was profiled by Downbeat magazine in its March 2018 issue, in which she spoke of her time at CalArts, as well her latest album, 'Another Ride on the Elephant Slide.'
CalArts Alumna Lauren Elizabeth Baba Profiled in Downbeat Magazine
The FY18 Omnibus Appropriations bill, signed into law by the president today, includes language that will ultimately conclude the decades-long dispute over the proposed CEMEX mineral mine in Soledad Canyon.
Knight, Feinstein Succeed in Killing CEMEX Mineral Rights in Soledad Canyon
Cartoon Network premiered the animated buddy comedy "Apple & Onion" on "Adult Swim" on Feb. 23, featuring soundtrack score and theme song by CalArts alum Paul Fraser (Music MFA 11).
Cartoon Network’s ‘Apple & Onion’ Features Music by Paul Fraser
East of Borneo, a contemporary online art journal supported by CalArts School of Art, and LACMA present the fifth annual Art + Feminism meetup, a global do-it-yourself campaign to improve the coverage of women, feminism and the arts on Wikipedia at LACMA on Sunday, March 25, starting at noon.
March 25: Art + Feminism Wikipedia Edit-a-thon, Panel at LACMA
Master's sophomore Hannah Forrar has been named an NAIA Division 1 Women's Basketball All-American, the sixth straight year at least one Mustang has earned the honor.
TMU’s Forrar Keeps Streak of Women’s Basketball All-Americans Alive
Valencia-based Paseo Aquatics managed to finish in the top 15 out of 90 other clubs at the Southern California Swim 14 and Under Short Course Junior Olympic Championships last weekend.
Paseo Aquatics Finishes in Top 15 at Junior Olympics in Pasadena
Calvin Estrada and Josh Arkin both hit homers and starter Eddie Rosales tossed seven strong innings to help propel College of the Canyons to a 4-2 home conference victory over Barstow College at Cougar Field on Tuesday.
Canyons Picks Up 4-2 Win Over Barstow
The California Supreme Court ruled Thursday that colleges owe their students safety and protection from foreseeable violence in the classroom, reversing an appeals court’s finding that UCLA did not have a duty to protect a student who was attacked with a knife by a classmate in a chemistry lab.
California High Court Rules Colleges Must Protect Students
The next meeting of the Los Angeles County Board of Supervisors is set for Tuesday, March 27, starting at 1 p.m.
March 27: LA County Board of Supervisors Meeting
The SCV Senior Center has created the "2nd Career Center" to assist seniors who would like to re-enter the workforce, and the first "Job Club" meeting is set for Wednesday, March 28 from 10 a.m. to 11 a.m.
March 28: SCV Senior Center ‘2nd Career’ Job Club Meeting
The California Air Resources Board today adopted a regulation prohibiting the use of specific refrigerants known as hydrofluorocarbons, powerful chemicals that trap heat in the atmosphere at a rate thousands of times that of carbon dioxide.
California Acts to Limit Powerful Climate-Changing Chemicals
The SCV Man and Woman of the Year honor is awarded annually to individuals who have given many years of outstanding volunteer service to charitable organizations throughout the Santa Clarita Valley.
SCV Man, Woman of Year to be Named May 11; Tickets on Sale
1886 - Film director Robert N. Bradbury born in Washington state; launched John Wayne's career in Placerita Canyon [watch]
Homicide investigators from the Los Angeles County Sheriff's Department are dedicated to solving murders and putting suspects behind bars.
Canyon Country Man One of Two Arrested for 2017 Palmdale Stabbing Death
Asteady downpour and gray skies couldn't keep 44 chili chefs and a crowd of hungry guests away from Tuesday's Charity Chili Cook-off at Wolf Creek Brewery in Valencia.
Rainy-day Chili Warms the Heart for School Libraries
For 30 maybe 40 minutes after The Master's University returned to it locker room inside the bowels of Municipal Auditorium, Lawrence Russell sat at his locker.
NAIA Men’s Basketball All-Americans Include 3 Mustangs
The list of California State University, Northridge’s Distinguished Alumni Awards recipients is diverse and dynamic. In keeping with that theme, the university is adding three highly accomplished honorees from three different walks of life to the list in April.
CSUN Announces Recipients of Distinguished Alumni Awards
Enjoy a scenic ride through the Heritage Valley where the fragrance of orange and lemon blossoms are delightful, April 1, at 12:00 p.m on Fillmore & Western Railway's Easter Lunch Train.
April 1: Fillmore & Western Railway’s Easter Lunch Train
The Santa Clarita Arts Commission will hold a Study Session Monday, March 26, at 6:30 p.m.
March 26: Arts Commission Study Session
Barnes & Noble Valencia will be holding a Children's Story Time event, Saturday, March 31 from 1:00 p.m. - 3:00 p.m.
March 31: ‘Ernest Hummingbird’ Book Reading, Signing at Barnes & Noble
Adoption is a meaningful way for individuals and couples to fulfill their dream of parenting. There are approximately 64,000 children in foster care in California.
April 21: Foster/Foster-Adopt a Child Information Meeting
The County of Los Angeles Department of Animal Care and Control (DACC) continues to staff emergency shelters for animals and respond to requests for assistance due to the rainstorm event.
County Providing Emergency Animal Services During Storm
After a lengthy, valleywide search, the Newhall Family Theatre for the Performing Arts is proud to announce its inaugural Board of Directors.
Newhall Family Theatre Announces Inaugural Board of Directors
Acting on a motion by Supervisor Mark Ridley-Thomas, the Metropolitan Transportation Authority Board voted unanimously to consider building on the success of a pilot program that deployed two outreach teams along the Red Line to help homeless individuals aboard buses and trains, and in and around transit stations, obtain housing and other services.
Homeless Outreach Pilot Program Demonstrating its Worth
The Parkinson’s Foundation (PF) will host its annual Moving Day North LA, A Walk for Parkinson’s on April 28 during National Parkinson’s Disease (PD) Awareness Month.
April 28: Moving Day North LA Walk for Parkinson’s
There are still a few days left to purchase tickets and be eligible to win a brand new car, a 2018 Chevy Cruze, MSRP $22,385.
March 26: Deadline to Purchase WiSH Foundation’s Win a Car Tickets
Mandatory evacuations of the 8300 block to the 9000 block of La Tuna Canyon remain in effect. The following picture, taken one mile north of the 8300 block of La Tuna Canyon, is within the area that has been evacuated. No structures were damaged due to the erosion of this hillside.
Storm Causes Hillside Erosion in La Tuna Canyon Burn Area
When Master's coach Jason Semelsberger explained that his team finished in 11th place on Tuesday in large part because of a loaded field, it wasn't a throwaway line meant to make the Mustangs feel better or to pacify their fans. It was the truth.
Mustangs Hang Tough in Competitive Field
SACRAMENTO - Senator Scott Wilk, R-Antelope Valley on Wednesday introduced a senate resolution - Senate Resolution 96 - calling on the federal government to stop, once and for all, the proposed Cemex mega-mine near Santa Clarita and bring an end to a decades old battle between residents and the multinational conglomerate.
Wilk Bill Calls on Feds to End Cemex Mega-Mine
Chandra Subramaniam spent his first week as the new dean of California State University, Northridge’s David Nazarian College of Business and Economics in meeting after meeting, learning about the job and the people he’ll be working with.
CSUN Names New Dean of Nazarian Business College
The North Los Angeles County Transportation Coalition is hosting a workshop with representatives from the city of Lancaster, city of Palmdale, city of Santa Clarita, and the County of Los Angeles, to showcase the improvement projects to come as a result of the transportation funding provided by Measure M.
April 2: Measure M Community Outreach Meeting
Working through a series of challenging circumstances including fires, weather and mudslides that struck the region, Lundgren Management successfully completed the Santa Barbara City College West Campus Center Project in time for classes to begin on Jan. 22.
Valencia-Based Construction Firm Completes Santa Barbara City College Project
SACRAMENTO - Senator Scott Wilk, R-Antelope Valley, introduced Senate Joint Resolution 19 (SJR 19) today calling on Congress to uphold its end of the bargain and fully fund the Individuals with Disabilities Education Act (IDEA), a program focusing on disabled students. The measure passed the Senate 37-0 and is headed to the State Assembly for consideration.
Wilk’s Individuals with Disabilities Education Act Heads to State Assembly
With the upcoming retirement of Cynthia Seamands, principal of Live Oak Elementary, there will be some administrative changes for the 2018-19 school year. Effective July 1, 2018, Stephanie Beach, principal of Castaic Elementary School, will assume the duties of principal of Live Oak Elementary School.
Live Oak Elementary Appoints New Principal
Due to updated weather conditions and a projected decrease in the amount of rainfall expected, the mandatory evacuations for Kagel Canyon, Lopez Canyon, and Little Tujunga, which were to be in effect at 6:00 p.m. Wednesday evening, were cancelled.
Mandatory, Voluntary Evacuations Remain in Effect for La Tuna Canyon Burn Areas
1875 - Construction begins on San Fernando Railroad Tunnel [story]