Prescott's Inc. Announces Expansion into Medical and Laboratory Sterilizer and Washer Services with Acquisition of Preventive Maintenance Medical, Inc.
PR Newswire
MONUMENT, Colo., Sept. 28, 2022
MONUMENT, Colo., Sept. 28, 2022 /PRNewswire/ -- Prescott's, Inc. ("Prescott's"), the leading provider of refurbishment, maintenance, repair and service work for surgical microscopes utilized in hospital operating rooms and ambulatory surgery centers and a portfolio company of Atlantic Street Capital ("ASC"), announced today its expansion into the medical and laboratory sterilizer and washer specialty service and support sector with the acquisition of Preventive Maintenance Medical, Inc. ("PMM").
Founded in 1997 and based in Mount Vernon, OH, PMM is a leader in the sterilizer and washer sector. PMM performs preventative maintenance, service, installations, refurbishments and parts and equipment sales, for surgical suite and laboratory sterilizers and washers. Additionally, PMM has expertise facilitating bulk rebuild projects for large research facilities faced with aging equipment needs. PMM's comprehensive service offering is backed by a team of highly skilled field technicians providing national coverage for their clients. PMM's dedication to service and the highest quality make it a natural fit with the Prescott's business. Visit www.preventivemaintenancemedical.com
Dylan DiJulio, Chief Executive Officer of Prescott's, commented, "We could not be more excited to have PMM join the Prescott's family as we work to expand our service offerings. When we think about the critical needs for surgical and laboratory services, ensuring that all equipment is sterilized and clean is of the utmost importance to ensure patient safety and the validity of research efforts. The highly skilled team at PMM has been and will continue to perform critical services for clients. The ongoing critical need to perform these preventative services makes the medical and laboratory sterilizer & washer category highly attractive and a natural extension of our business given the operational similarity and highly specialized skill required to provide field service support and repair and reconditioning capabilities. We are excited to help PMM continue to grow and expand their geographic footprint as a market leader in the sterilizer & washer category."
John Hubbard, General Manager of PMM, said, "We take great pride in our professionalism, reputation and execution, which has been fundamental to helping us excel and provide outstanding service to our customers. Our desire to continue growing and expanding our services is stronger than ever. The partnership with Prescott's represents new opportunities for our employees, customers, and stakeholders."
Prescott's continues to expand its service capabilities into adjacent market categories and the acquisition of PMM represents the first of several anticipated acquisitions in the sterilizer and washer refurbishment, maintenance, repair and service sector as well as other related contractual outsourced service, repair and maintenance business models serving the medical, integrated delivery networks (IDNs), surgery centers and laboratory environments. Prescott's earlier announced the acquisition of Heartland Medical Sales & Service which expanded Prescott's into the anesthesia specialty service and support sector.
Founded in 1984 and based in Monument, Colorado, Prescott's, Inc. is the leading provider of refurbishment, maintenance, repair and service work for surgical microscopes utilized in hospital operating rooms and ambulatory surgery centers primarily in the neuro, ophthalmic and ENT surgical specialties. Visit www.surgicalmicroscopes.com.
ASC is a private equity firm that invests in lower middle market companies poised for the next level of growth. The firm targets entrepreneurial management partners and fundamentally sound companies between $4 million and $25 million of EBITDA that will benefit from capital investment and ASC's value-added strategic and operational support. As a result, ASC works closely with management to unlock their business' underlying value and help them succeed. For more information www.atlanticstreetcapital.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
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