Private equity firm WJ Partners has completed its sale of Charlotte-based Global Medical Imaging to Jordan Industries International, a private investment company based in Chicago.
Terms of the deal were not disclosed.
WJ Partners, headquartered in Spartanburg, S.C., bought GMI in 2009. GMI was founded in 2002 by Charlotte businessmen Ryan Dienst and his brother-in-law, Scott Ray. The company sells, services and supports new and used ultrasound equipment for doctors’ offices and hospitals across the U.S.
“We have enjoyed helping to foster GMI’s growth and create long-term value, and look forward to watching the company in its next phase of growth under new ownership,” Benjamin Wall, managing partner at WJ Partners, said in a statement.
WJ Partners said since its initial investment, GMI’s top-line sales and profitability have risen “significantly.” The private equity firm said it did this by building out GMI’s team, upgrading its infrastructure, adding sales and support functions and improving efficiency and customer care.
Jordan Industries will grow GMI organically and through acquisition, reported DOTmed.com, which provides health care business news. Jordan Industries is eyeing acquisitions in the medical equipment market to “further augment GMI’s growth and provide cross-selling opportunities among the family of companies.”
GMI has its offices at 222 Rampart St. in South End, near Sycamore Brewing.