ELKHART, Ind., March 20, 2023 /PRNewswire/ — Birch Swing Capital announced that it acquired Scrubs on Wheels, one of the largest providers of mobile uniform solutions to the long-term care and healthcare industries.
“The deal is the latest platform for Birch Swing Capital, which will bring Scrubs on Wheels to a wider pool of customers through organic growth and add-on acquisitions,” said Ford Schumacher, Co-Founder and Managing Director and Birch Swing Capital.
Dennis Carrico will remain President of Scrubs on Wheels and maintain an ownership stake. The company provides medical apparel and accessories to healthcare providers in over 22 states.
“Scrubs on Wheels offers a differentiated model – with the in-store experience of brick-and-mortar retail and e-commerce like convenience”, said Aalek Mehta, Co-Founder and Managing Director, “we’re excited to bring this model to more healthcare providers across the country”.
Schumacher said that Scrubs on Wheels offers a stable end market in an increasingly uncertain macroenvironment, with plenty of room to grow through new product offerings, expanded geographic focus, and acquisitions in a fragmented industry.
Mehta added that Scrubs’ management team has built the business to be resilient and has successfully navigated through the pandemic while continuing to delight customers with their unique offering. Birch Swing plans to further invest in technology and service initiatives to improve the customer experience.
“We are excited to partner with the Birch Swing team to build on Scrubs’ success and take the company to its next phase of growth” Carrico said.
Spring Capital Partners IV, L.P. invested debt and equity along side Birch Swing and Carrico.
PJ Orthwein of Spring Capital said, “We are excited to partner with Birch Swing Capital on another platform company. Scrubs on Wheels delivers in the most convenient way possible products that healthcare staff need everyday. Dennis and his team have successfully led this company for decades yet remain eager to deploy both new and proven strategies to grow and improve the business. We know from our experience with Ford and Aalek that they will work side-by-side with management to prioritize and execute initiatives that will drive value creation at Scrubs on Wheels.”
Nolan & Associates was financial advisor to Scrubs on Wheels on the acquisition.
Mehta and Schumacher, serial investors and operators, founded Birch Swing Capital in 2016. They have since made investments across the consumer products, manufacturing, and business services sectors, partnering with management teams and leveraging their operational expertise and networks to build thriving businesses.
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SOURCE Birch Swing Capital
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