Atlanta, GA – Atlanta-based investment banking firm De NES Partners, LLC is pleased to announce the recapitalization of its client Top Rx, Inc. (“Top Rx”) by Flexpoint Ford, LLC. Established in 1987 by entrepreneur Kenny King, led successfully by Scott Franklin, President, and headquartered in suburban Memphis, TN, Top Rx is a national distributor of over 2,800 generic and selected brand pharmaceuticals, vitamins, OTC healthcare products, and pharmacy supplies to over 5,000 pharmacies, predominantly independent pharmacies in all 50 states and a variety of larger, national accounts. Top Rx is an Authorized Distributor of Record (“ADR”) for over 90 generic pharmaceutical manufacturers.
Top Rx has achieved strong success by positioning itself as a trusted industry partner providing outstanding customer service and addressing inventory management needs throughout the pharmaceutical supply chain. In addition to selling to independent pharmacies, Top Rx sells to group purchasing organizations, re-packagers, other wholesale distributors, veterinary wholesalers, long-term care facilities, correctional facilities, and mass merchant customers.
Flexpoint Ford is a private equity firm dedicated to the healthcare and financial services sectors. Flexpoint Ford seeks to build relationships with executives and companies who look for Flexpoint Ford to be a value-added partner. Flexpoint Ford currently manages approximately $1 billion in committed capital on behalf of its limited partners.
Doug Hubert and Don Schaeffer, who co-founded De NES Partners in January 2014 after many years leading the investment banking practice for CBIZ, Inc., commented, “After many years of strong growth led by Scott Franklin, President, and his senior management team, Kenny King, the founder of Top Rx, believed the time was right to seek a financial partner. With its healthcare industry experience, deep contacts and financial backing, Flexpoint Ford fit the profile perfectly, and our client could not be more pleased.” Reflecting on the new partnership, Mr. King & Mr. Franklin commented, “We have worked hard to create a culture of excellence at Top Rx. We wanted to choose a partner who shares our values and have found the ideal firm in Flexpoint Ford. This partnership is a big win for our customers, suppliers, and employees, as we are now better positioned for growth than at any time in our history.”
De NES Partners focuses on representing owners of single and multi-generational family and other privately-held businesses across the United States with revenue between $15-250 million and EBITDA between $3-25 million in M&A (full sale and recapitalization) transactions. The firm’s two principals, with nearly a combined 45 years of mergers & acquisitions advisory experience, have successfully completed transactions across the full spectrum of manufacturing, distribution, and company-to-company business services and have sold clients to some of the most sophisticated buyers in the world, including companies listed on the NYSE, NASDAQ, Toronto, Irish and London Stock Exchanges, as well as institutional private equity firms.
Messrs. Hubert & Schaeffer are registered representatives of, and Securities Products and Investment Banking Services are offered through, BA Securities, LLC. Member FINRA SIPC. De NES Partners is a separate and unaffiliated entity from BA Securities, LLC.
For more information about the Top Rx transaction, please contact Doug Hubert, Managing Partner, De NES Partners, LLC, (770) 858-4491, dhubert@deNESpartners.com.