LYTLE MEDICAL TECHNOLOGIES HAS BEEN ACQUIRED BY CRAFTSMAN CAPITAL
Birmingham, Michigan – January 9, 2024 – Angle Advisors is pleased to announce that Lytle Medical Technologies (LMT), a white glove provider of durable medical equipment rentals to patients recovering from orthopedic surgery, has been acquired by Craftsman Capital Partners (CCP), an operationally-focused private equity firm investing in lower middle-market companies. Angle Advisors acted as the exclusive investment banking advisor to the shareholders of Lytle Medical Technologies in completing this transaction.
Located in in Farmington Hills, Michigan, and Houston, Texas, LMT is a provider of durable medical equipment rentals for at home recovery immediately following knee, hip, ankle, and elbow surgeries. Orthopedic surgeons prescribe these therapies to reduce pain and swelling, prevent blood clots, improve outcomes, and accelerate recovery. The Company works with orthopedic surgeons, their staff, and their patients to minimize out-of-pocket costs and maximize the speed and quality of the recovery. LMT delivers equipment to the home, teaches the patient how to properly use the equipment, answers questions, picks up the equipment, and handles billing directly with the payor. LMT has developed a proprietary operating platform that optimizes physician ordering, scheduling, payment, insurance verification, and billing, which reduces training and makes the business very agile and highly scalable.
Andy Lytle, founder, remarked, “Over the past ten years, we have built the team, the culture, the infrastructure, and the reputation of this business so that it is poised to grow exponentially and now we have a partner who has the experience and the resources to realize that potential.” Karilyn Lytle, President of LMT, said, “We are so passionate about our surgeons, our patients, and our Lytle team members and we are thrilled to have found an investor who will continue the focus on excellence with integrity while enabling us to accelerate the number of people that we can help.”
Karilyn added, “Andy and I also want to express our appreciation for Angle Advisors’ hard work and perseverance throughout this process; as first-time sellers, we could not have achieved this outstanding result and great fit without their guidance, experience, and market knowledge.”
Karilyn will remain President of LMT and Andy will continue to drive business development and process improvement; the Lytles remain invested in the Company.
Paul Thompson, co-founder and Operating Partner of CCP, said, “We are excited about our investment in LMT due to the strength of the team and the systems they have developed. Combined with increasing orthopedic surgeries and a trend towards in-home healthcare, we look forward to creating significant value in the business and for the communities we serve.”
To learn more about Lytle Medical Technologies, please visit www.golytle.com.
Craftsman Capital Partners, LLC is an operationally-focused private equity firm investing in lower middle-market companies that exhibit strong potential for growth. The firm employs dedicated, long-term capital and is seeking control investments in operating companies based in Texas and surrounding states. To learn more about Craftsman Capital, please visit www.craftsmancapitalpartners.com.
Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising. The firm’s professionals have completed 290 transactions since 2009 for multinational corporations, privately held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.