Stout Advises Waud Capital Partners on Acquisition of Mopec Group

Stout is pleased to announce its role as the financial advisor to Waud Capital Partners in the acquisition of Mopec Group, a vertically integrated, branded supplier and manufacturer of high-quality anatomic and forensic pathology equipment, technology, consumable products, and services. Mopec was acquired from Blackford Capital, a Michigan-based private equity firm focused on the lower middle market.

Headquartered in Madison Heights, Michigan, and founded in 1992, Mopec has earned a reputation as a trusted partner to pathology and anatomy professionals. The company provides a comprehensive platform of products and solutions designed to advance diagnostic accuracy, safety, research, education, and disease treatment. With over three decades of experience, Mopec is a category leader in anatomic and forensic pathology equipment and workflow, with installations across premier healthcare institutions in the U.S.

Waud Capital, based in Chicago, is a growth-oriented private equity firm with a proven track record of over 30 years. Specializing in the healthcare and software and technology sectors, Waud Capital has completed more than 480 investments since its founding in 1993. The firm partners with experienced management teams to build market-leading companies that drive innovation and growth.

Brad Staley, an Executive Partner at Waud Capital with over 25 years in healthcare and technology operating roles across specialty distribution, products, and services sectors, will serve as the Mopec Group Executive Chairman of the Board of Directors. Under Waud Capital’s ownership, Mopec plans to accelerate its growth through both organic expansion and strategic acquisitions.

“Mopec is a category leader with incredible brand equity in its core offerings,” said Brad Staley. “It is an honor to work with the Mopec leadership team to continue executing on its stated growth strategy of becoming a comprehensive solutions provider to pathology and lab markets.”

“We are thrilled to have advised Waud Capital Partners on this attractive platform acquisition,” stated Tony Crisman, Managing Director at Stout. “Waud Capital, along with their experienced executive Brad Staley, is the right partner to drive growth leveraging Mopec’s strong foundation, brand, and leadership. This acquisition reflects the ideal alignment of a growth-oriented private equity partner with a category leading organization poised for the next phase of success.”

The transaction was led by Tony Crisman, Tom Concklin, Tyler Skarstein, Annelise Munger, Kyle Tennille, and Ally Larson of Stout’s deal team.

Kirkland & Ellis LLP served as legal counsel to Waud Capital. Piper Sandler & Co. acted as the exclusive financial advisor to Blackford Capital and Mopec. Varnum LLP served as legal counsel for Blackford Capital and Mopec. The terms of the transaction were not disclosed.

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