Edgewater Announces Sale of Harrington Holdings
Edgewater Growth Capital Partners II, L.P. is pleased to announce the recent sale of our portfolio company Harrington Holdings, Inc. (“Harrington”). Harrington is a multi-channel marketer and distributor of medical supplies serving chronic disease patients. Harrington was acquired in January 2007 and increased revenue nearly 100% during the three year investment period. The company has been sold to private equity firms Clayton Dublier & Rice and GS Capital Partners providing a highly attractive return to our Limited Partners.
Harrington is the fifth realization from Edgewater Growth Capital Partners II, L.P., a 2006 vintage fund. By adhering to our investment strategy of low purchase prices, focus on profitable growth and conservative use of debt, Edgewater has been able to achieve attractive returns on investments made at the peak of the market and subsequently sold during the current economic downturn.