SAN MATEO, Calif.--(BUSINESS WIRE)--Anacapa Partners, a leading private equity firm focused on acquisitions in the lower middle market, today announced the sale of Krueger-Gilbert Health Physics, LLC (KGHP), a leading diagnostic medical physics provider, to Blue Sea Capital LLC. Financial terms of the transaction were not disclosed.

Founded in 1987 and headquartered in Towson, Maryland, KGHP is a market-leading, full-service, comprehensive diagnostic medical and health physics consulting group. KGHP’s client-focused team of physicists provides critical compliance services to some of the most progressive hospitals, imaging networks, private practices and research facilities nationwide. Anacapa invested in KGHP in 2014.

“It has been gratifying to see the growth of Krueger-Gilbert Health Physics over the past five years,” said Jeff Stevens, Founder and Managing Partner, Anacapa Partners. “KGHP was an ideal fit for our search fund model of partnering with entrepreneurs to acquire and grow promising operating companies. It has been a pleasure working with the talented professionals at KGHP and we wish them much continued success with Blue Sea Capital.”

“Anacapa’s mentorship, with its focus on people and relationships, has been pivotal in the evolution of KGHP,” said Michael Curry, Jr., Chief Executive Officer, Krueger-Gilbert Health Physics. “Their decades of operating experience, their strategic guidance, and their patience, have proven valuables assets that we believe have firmly positioned KGHP for continued growth.”

“During Anacapa’s ownership, we doubled the number of physicists on staff and expanded our geographic coverage to become a leading partner to healthcare providers in the Mid-Atlantic region,” said Keith N. Burns, President, Krueger-Gilbert Health Physics. “We thank Jeff and the Anacapa team for their belief in our mission, their confidence in our team, and for a partnership that has been truly beneficial for Anacapa, KGHP, our clients, and all those with whom we partner.”

Anacapa seeks to invest in profitable businesses with predictable, stable and recurring revenue and with the potential for continued meaningful growth. Founded in 2010, Anacapa has raised $120 million across its three funds and invested in 45 businesses.

Piper Jaffray served as financial advisor and Goodwin served as legal advisor to Krueger-Gilbert Health Physics in connection with the sale.

About Anacapa Partners
Anacapa Partners is a private equity fund with a strategic focus of investing in operating companies that have been identified by principals operating within the search fund business model. We take a proactive role with search fund entrepreneurs in all phases of the investment process, including business screening, due diligence, negotiation of deal structure, operating oversight, and exploration of exit strategies. Over the past eight years, Anacapa has invested in 125 individuals/partnerships looking to acquire a nano-cap company, and has made 45 investments in operating companies acquired through the search fund approach. Anacapa partners with entrepreneurs identified through two channels – top tier MBA programs and special operations forces in the United States military. Founded in 2010, Anacapa is headquartered in San Mateo, California. For additional information, please visit www.anacapapartners.com

About Krueger-Gilbert Health Physics

Founded in 1987 and headquartered in Towson, Maryland, Krueger-Gilbert Health Physics (www.kruegergilbert.com) is a market-leading, full-service, comprehensive diagnostic medical and health physics consulting group. KGHP’s client-focused team of physicists provides critical compliance services to some of the most progressive hospitals, imaging networks, private practices and research facilities nationwide.