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The Riverside Co. has sold Milwaukee-based Specialized Medical Services Inc. to Lincare Holdings Inc., a subsidiary of Germany’s Linde AG. During its hold of SMS, Riverside grew the company’s revenue more than seven times and integrated multiple acquisitions to form the only truly national provider in a fragmented industry. Considered the largest respiratory equipment provider for skilled nursing facilities in the nation, its footprint covers more than 45 states and 3,200 facilities, including 15 of the 20 largest for-profit skilled nursing facility chains in the country. “It was a pleasure working with the executive team to position SMS as a leader in its industry,” Riverside Vice President Garrett Monda said in a statement. “We were able to support an extensive network of customers new and old, allowing them to have one dedicated provider for all their respiratory-related needs across their facilities.” Working with Riverside Managing Partner Loren Schlachet and Monda on the transaction for Riverside were:

  • Operating Partner Jon Temple
  • Finance Director David Kralic
  • Senior Associate Christopher Shea

Lincoln International, Jones Day and Deloitte advised Riverside on the transaction.