Kingswood Capital Management has announced will acquire Drive DeVilbiss Healthcare from CD&R.
Drive, founded in 2000 and based in Port Washington, New York, is a global manufacturer and supplier of medical products used primarily in the home setting.
Kingswood, founded in 2013 and based in Los Angeles, is a middle market private equity firm that invests in several sectors, including healthcare services. The firm typically invests $50 million to $150 million in companies with at least $100 million of revenue.
CD&R, founded in 1978 as Clayton, Dubilier & Rice and with its U.S. operations based out of New York, is a private investment firm that targets businesses in a broad range of industries, including healthcare. The firm pursues several different types of investments in North America and Western Europe, and other regions for portfolio company add-ons.
Terms of the transaction were not disclosed.