Virginia Beach-based Fox Three Partners LLC acquires Burlington Medical Supplies
Virginia Beach-based private investment company Fox Three Partners LLC has acquired Burlington Medical Supplies Inc. (BMS) in Newport News.
Founded in 1969, BMS provides radiation-protection and patient-comfort products.
Joining Fox Three in the deal is Detroit-based Peninsula Capital Partners, an investment company specializing in subordinated debt and structured equity investments.
Financial details were not released.
John Williams, the CEO of BMS, will continue in that role with Burlington Medical LLC, the company’s new name.
In a statement, Williams said the founders of the company wanted to retire, but wanted to partner with a company that understood its business and corporate culture.
“Fox Three and Peninsula showed they understand how smaller companies like BMS operate, especially how our culture supports our success. It is the energy that powers the business,” he said.
Fox Three acquires and develops companies under $50 million in enterprise value with a track record of profitability, defensible market positions and strong growth prospects.