American Securities Acquires NAPA Management Services Corporation

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Apr 20, 2016, 12:00 ET

NEW YORK, April 20, 2016 /PRNewswire/ -- American Securities LLC, a leading U.S. private equity firm, today announced its majority acquisition of NAPA Management Services Corporation ("NMSC") and its related clinical entities, nationally recognized as North American Partners in Anesthesia ("NAPA"). NAPA is a leading outsourced anesthesia and perioperative management services provider. Financial terms of the transaction were not disclosed.

Based in Melville, New York and founded in 1986, NAPA partners with hospitals, ambulatory surgery centers, and physician offices to provide anesthesia and perioperative services. The company also provides pain management services to chronic pain management offices. Through its nearly 800 Anesthesiologists and more than 700 Certified Registered Nurse Anesthetists, NAPA provides services in 12 states across the United States. NAPA's services improve patient care throughout the perioperative process, and help customers deliver more efficient and profitable operating environments.

"We are proud of NAPA's reputation for providing excellent clinical quality to our diverse client base," said John F. Di Capua, MD, CEO of NMSC. "For the next chapter in the company's evolution, we look forward to partnering with American Securities to continue to grow our business and strengthen our efforts in transforming healthcare delivery."

"Hospitals and other leading healthcare providers are increasingly focused on partnering with service providers of scale to drive quality patient outcomes and efficiency," commented Marc L. Saiontz, Managing Director at American Securities. "The company's clinically focused management team and organizational scale position NAPA for a strong future with numerous growth possibilities. We look forward to supporting John and the rest of NAPA's talented team in the next stage of their clinical successes and corporate evolution."

Leonard Green & Partners made an investment in the transaction alongside American Securities and NMSC's management team. Weil, Gotshal & Manges LLP served as legal counsel to American Securities, and McDermott Will & Emery LLP served as legal counsel to NMSC with respect to the transaction. The company was majority owned by Moelis Capital Partners. Moelis & Company and Harris Williams & Co. acted as financial advisors to NMSC with respect to the transaction. Deutsche Bank served as the lead arranger and Ares Capital Corporation and Crescent Mezzanine served as second lien arrangers for American Securities.

About North American Partners in Anesthesia
Founded in 1986, North American Partners in Anesthesia (NAPA) is a leading single-specialty anesthesia and perioperative management company in the United States. NAPA is comprised of highly respected clinical staff, providing thousands of patients with superior and attentive care. The company is known for partnering with hospitals and other health care facilities across the nation to provide anesthesia services and perioperative leadership that maximize operating room performance, enhance revenue, and demonstrate consistent patient and surgeon satisfaction ratings. For more information, please visit www.NAPAanesthesia.com.

About American Securities LLC
American Securities is a leading U.S. private equity firm with approximately $15 billion under management. Based in New York with an office in Shanghai, American Securities invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion and/or $50 million to $200 million of EBITDA.
www.american-securities.com

Contact Information

For NAPA, please contact:
Barbara Cerrone
Senior Director of Marketing and Corporate Communications
516-945-3394
[email protected]

For American Securities, please contact:
Caroline Harris-Gibson
Prosek Partners
212-279-3115 x222
[email protected]

SOURCE American Securities LLC