August 4, 2022
For Immediate Release
Monument MicroCap Partners, LLC (“Monument”), a Midwest-based private equity firm with offices in Indianapolis, Indiana and Bloomfield Hills, Michigan, announced today that on August 3, 2022, it closed on the sale of Montgomery DME (“MDME” or “the Company”), a leading provider of durable medical equipment rental services to the hospice market, to Incline Equity Partners (“Incline”), a Pittsburgh-based private equity firm. Based in Santa Fe Springs, CA, MDME provides its customers’ patient populations with an array of equipment, including beds, oxygen systems, wheelchairs, bath safety products and other related devices. The Company acts as a critical extension of its hospice partners by providing full-service equipment delivery and maintenance through its highly trained team of technicians. With five strategically located facilities across Southern California, the Company serves over 400 hospice agencies in the region.
MDME’s revenue grew 2.5x over Monument’s hold period. Monument was able to accelerate the Company’s growth through increased equipment purchases, expanded geographic presence, enhanced management, and add-on acquisitions. Monument completed three add-on acquisitions: Abundant Home Care in January 2019, LiveWell Medical Supplies in April 2021, and Premier Medical Equipment Services in December 2021. The management team, led by Ron Galan (President), did an outstanding job managing the business through this rapid growth as well as integrating the acquisitions.
“Monument invested in MDME in December 2018 with the goal of expanding the Company’s services both organically and through acquisitions. We are proud of the growth achieved in partnership with management during our ownership period.”, said Glenn Scolnik, Chairman of Monument.
“Monument’s partnership approach and strategic guidance have helped MDME grow and expand exponentially to create substantial value. We appreciate the opportunity to partner with Monument and we are excited for the future of MDME”, said Ron Galan, President of MDME.
Monument has completed fourteen acquisitions over the last 3.5 years, including five platform acquisitions and nine add-on acquisitions. This represents the first exit for Monument with the original investment occurring in December 2018.
TM Capital Corp. served as exclusive financial advisor to MDME in connection with this transaction.
About Monument MicroCap Partners, LLC
Monument is a Midwest-based private equity firm focused on investments in North American businesses with EBITDA of $2-8 million. Monument seeks to partner with honest, hard-working and talented management teams across a wide variety of industries, including niche manufacturing, business services and industries positioned to capitalize on demographic trends and the growing need for infrastructure investment.