Lagniappe Health Acquires Robertson Piper Software Group

In July 2012, Harvey & Company initiated and invested in the acquisition of FDS, Inc. through a newly-created holding company, Lagniappe Health, Inc. In Septmeber 2012, the company subsequently acquired Robertson Piper Software Group, Inc. (“RPSG”), a provider of pharmacy management systems, POS software and related solutions through its OPUS-ISM, LLC subsidiary. Below is the press release following the transaction:

Lagniappe Health Acquires Robertson Piper Software Group

September 11, 2012

New York, NY – Kinderhook Industries, LLC announced today the sale of Robertson Piper Software Group, Inc. (“RPSG”) and its main subsidiary Opus-ISM LLC (“Opus”), to strategic buyer Lagniappe Health (“Lagniappe”), a portfolio company of Calvert Street Capital Partners. RPSG has been a portfolio company of Kinderhook Industries (“Kinderhook”) since 2009. The sale represents a return on invested capital of over 1.6x for Kinderhook.

Based in Pine Brook, New Jersey, Opus-ISM (www.opus-ism.com) is a leading national provider of pharmacy management systems, POS software and related solutions and services to all types of pharmacies including: retail, managed and long-term care, HMO, outpatient hospital, nursing homes/facilities and other institutions. Opus-ISM has been in business for over 35 years and currently provides services to over 1,100 customer locations.

“We are pleased to sell Opus to a strategic buyer that can continue the company’s long tradition of providing outstanding products and services to the pharmacy market,” said Doug Robertson, CEO, President and a Founder of RPSG.

“The sale of Opus demonstrates Kinderhook’s investment strategy of partnering with strong management teams and building successful companies that attract strategic buyers,” said Chris Michalik, Managing Director at Kinderhook.

Kirkland & Ellis LLP served as legal counsel to RPSG. Raymond James & Associates and New Century Capital Partners served as financial advisors to RPSG. Willkie Farr & Gallagher LLP served as legal counsel to Lagniappe.

 

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