WILsquare Capital, a St. Louis-based private equity firm, announced today it has completed the acquisition of Resident Essentials, a supplier of products serving senior care facilities and their residents. Terms of the transaction were not disclosed.
Since its founding in 2000, Resident Essentials has grown to become the trusted partner of senior care facilities in providing adaptive clothing and other items which enhance the quality of care and standard of living for facility residents.
“WILsquare is pleased to partner with the team at Resident Essentials,” said Drew Caylor, Managing Director, WILsquare Capital. “They have built a strong reputation with their customers by offering high-quality, personalized products and outstanding customer service. We look forward to supporting them in their next phase of growth.”
In conjunction with the acquisition, David Lonczak joined Resident Essentials as CEO to succeed Jeff Garber, the founder and former CEO of Resident Essentials. David previously served as CEO of a private-equity backed, high-growth eCommerce company and as a senior executive for an online healthcare products business.
“We are excited to have David join the Resident Essentials team,” said Garber. “He understands what it takes to deliver value to our senior care facility partners and customers to grow the Resident Essentials brand.” John Curry, Vice President at WILsquare Capital, adds, “We are thrilled to have David join us. David brings a strong understanding of, and leadership experience with, brands with strategic distribution relationships. His experience aligns well with Resident Essentials’ opportunities to expand its relationships with senior care facility managers, introduce new products to benefit their residents, and enter complementary channels.”
About WILsquare Capital
WILsquare Capital is a St. Louis-based private equity firm focused on acquiring and growing lower-middle market businesses, with an emphasis on business services, niche manufacturing, distribution, and technology companies. The firm is currently investing out of WILsquare Capital Partners Fund II, L.P.