Case Study: Exit Experts Advises $4.3M Medical Equipment Reseller in its Sale to PE Firm

“We are proud that we were able to structure an offer that allowed the owner to retain substantial equity while also sharing profits of the company for 5 more years.”

Ray Johnson, Managing Director, Exit Experts

Axial Members

Member Type	Private Equity	M&A Advisory Firm
Axial Member Since	2018	2017
Headquarters	Canada	Boulder, CO
Axial Closed Deals	2	1
Axial Profile	Confidential	View Profile

The Business

Location: Southern U.S.

Description: Founded just over a decade ago, this medical equipment company sells a combination of new and refurbished medical equipment to physicians’ offices, hospitals, and other medical facilities across the United States. 

Reason for exit: Although the company was growing and profitable, the owner recognized the benefits of diversifying his risk and being part of a larger group that could help finance and support further growth. As someone in his early 30s, the owner was looking for a partner who would allow him to continue running the business and also would help with strategic decisions and capital to grow the company for 5+ years.  The buyer structured an offer that allowed the business owner to retain substantial equity while also sharing profits from the company for another five years. 

Exit Experts is a boutique M&A Advisory firm specializing in manufacturing, service, and repair companies. Exit Experts, which is led by Ray Johnson, has been an Axial member since 2017 and has represented 18 deals on the platform. The firm has offices in Boulder, CO, and Palm Beach, FL.

In Q3 2024, the Exit Experts team began working with a new client in the medical resale space. The business owner — who was in his early 30s — was looking for a strategic partner that would provide both growth capital and operational expertise while still allowing him to run the business for the foreseeable future. The company, which had high margins (gross profit of 50-75% on refurbished equipment) came to the table with two strong revenue pillars — equipment revenue and repair revenue — as well as a diverse list of growth opportunities, including the addition of new equipment types, customer expansion, and geographic expansion.

After going to market with its client in late September of last year, Exit Experts received interest from 68 Axial buyers on the platform. The sellers took their time in a comprehensive selection process, ultimately going under LOI with a Private Equity firm in January 2025. After an extended diligence process with a couple of setbacks, Ray Johnson helped his client overcome the challenges and close the transaction in mid-May.

Axial Deal Data