OceanSound Partners (OceanSound), a growth-oriented PE firm that invests in tech and tech-enabled services companies serving government and highly-regulated markets, has acquired PAR Excellence System from Northlane Capital Partners (Northlane).
Financial terms of the deal, which sees both Northlane and PAR’s management team continuing as investors in the company, have been not disclosed.
Founded in 1992, PAR is a provider of supply chain integrity and cost management solutions to the healthcare industry and serves government, non-profit, and private healthcare systems and integrated delivery networks.
According to a press statement, the company’s automated supply chain management solutions, comprised of cloud-based software, proprietary hardware products, and value-added services, allow customers to optimise medical supply inventory management.
Paul, Weiss, Rifkind, Wharton & Garrison LLP and Holland & Knight LLP served as legal advisors and Lincoln International LLC served as exclusive financial advisor to OceanSound. Sidley Austin LLP served as legal advisor and Guggenheim Securities LLC served as exclusive financial advisor to PAR Excellence.
