Brassler Case Study

About the Company

Brasseler USA is a leading provider of dental and surgical instrumentation and related consumable supplies.

Situation Overview

In February 2008, Carousel Capital partnered with Don Waters (CEO) and members of the Brasseler management team to buy out the family who owned a majority interest in Brasseler.

Value Creation Initiatives

  • Successfully launched new product lines enhancing margins and EBITDA
  • Reduced working capital by more than $15 million
  • EBITDA more than doubled since acquisition
  • Solidified unique position with endodontic thought leaders
  • Made significant investments in high-end direct sales force

Outcome

  • In 2010, Brasseler entered into a strategic partnership with Henry Schein, Inc. (NASDAQ: HSIC), which provided partial liquidity to its shareholders while providing an opportunity for continuing ownership and additional upside through synergies and procurement savings
  • In 2016, Carousel successfully exited its investment in Brasseler to Henry Schein
Location: Savannah, GA
Year of Investment: February, 2008 
Status: Active Investment
CEO: Don Waters
Fund: III