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SARASOTA -- WellSpring Pharmaceutical Corp., owner of a portfolio of pharmaceutical products including an antifungal foot ointment, was purchased by a team of private equity firms led by Fort Worth, Texas-based Ancor Capital Partners.
Sarasota-based WellSpring is a multimillion-dollar company that does not disclose specifics about its revenues. But Ancor typically targets companies with between $5 million and $15 million in earnings before interest, taxes, depreciation and amortization (EBITDA).
Ancor partnered with Sentinel Capital and Yukon Capital to complete the deal, a release says.
Three members of WellSpring's executive team -- CEO Robert Vukovich, chief financial officer Wendy Shusko, and chief operating officer Bonnie Feeney -- also contributed to Ancor's investment pool, a release explains.
Shusko says the equity sale will allow WellSpring to achieve “aggressive growth opportunities” in the pharmaceutical market.
WellSpring was featured in a June issue of the Gulf Coast Business Review (see “Rub It In,” June 3).
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