Midway Industrial Supply Acquires Contrast Equipment Company

Client Objective

Therapy Support, Inc. was founded in 1997 by Brian and Dave Pavlin. The Pavlins identified a need in the marketplace for a superior durable medical equipment solution for hospices. Over the next 18 years, Therapy Support became a premium provider of durable medical equipment with a national reputation in the hospice and long-term care industries. The company grew to 21 locations across eight states with over 220 employees.

In 2015, Dave and Brian Pavlin realized that to take advantage of the industry’s changing dynamics and continue the business’s growth trajectory, they would need to find a strategic partner. Also at this time, Dave Pavlin was ready to start transitioning out of the business and into retirement.


Dave and Brian Pavlin approached Mariner Capital Advisors for assistance in finding the right strategic partner that would further facilitate Therapy Support’s growth while allowing Dave Pavlin to transition out of his full-time position.

We began the sell-side process by performing a business valuation, which provided insight on the company’s strengths, weaknesses, and growth opportunities. It also helped our client develop realistic expectations of the price a buyer might be willing to pay for Therapy Support.

Next, we identified approximately 250 companies in the durable medical equipment and hospice services industries as potential strategic buyers. We then sent a letter and one-page blind prospectus that introduced Therapy Support in a confidential manner to key contacts at each company. We then launched an email campaign containing similar information, which reached nearly 9,000 private equity investors across the country, as well as additional strategic buyer contacts.

Interested parties were required to sign a non-disclosure agreement and to be approved by our client before they were provided with a detailed Confidential Information Memorandum (CIM), which outlined the acquisition opportunity and highlighted the strengths of Therapy Support.

Our confidential marketing process resulted in over 150 interested buyers. We received offers from more than a dozen potential acquirers and had management presentations with six of them. One of these parties was Tailwind Capital. Just two months prior to our marketing process, Tailwind Capital had acquired National HME, the leading provider of durable medical equipment to the hospice market. Given the lack of geographic overlap between Therapy Support and National HME, as well as the extensive infrastructure of both organizations, the two companies were a perfect fit.


National HME, a portfolio company of Tailwind Capital, acquired Therapy Support in January 2016. The acquisition allowed National HME to expand its geographic footprint while bringing on one of the most respected durable medical equipment providers to hospices in the industry. Therapy Support and National HME will leverage their combined infrastructure, including proprietary technology solutions, to better serve their hospice customers. Additionally, the extensive management team at National HME is affording Dave Pavlin the opportunity to transition out of the business within his desired timeframe.

About Therapy Support

Headquartered in Springfield, Missouri, Therapy Support is the premier provider of durable medical equipment to the hospice and long-term care industries. Therapy Support was founded in 1997 and now serves more than 12,000 patients with 213 employees across Ohio, Missouri, Michigan, Kansas, Nebraska, Oklahoma, and Pennsylvania.

About National HME

Based in Richland Hills, Texas, National HME provides high-quality home medical equipment to the hospice industry. National HME serves over 500 hospice programs daily and offers around-the-clock customer service through 40 service centers and a large network of durable medical equipment suppliers.

This document is for informational use only and may be outdated and/or no longer applicable. Nothing in this publication is intended to constitute legal, tax, or investment advice. There is no guarantee that any claims made will come to pass. The information contained herein has been obtained from sources believed to be reliable, but Mariner Capital Advisors does not warrant the accuracy of the information. Consult a financial, tax or legal professional for specific information related to your own situation.