Keystone Capital, Inc. (“Keystone”) is pleased to announce that it has completed an investment in and partnership with the shareholders of MorrisSwitzer Environments for Health, LLC (“MorrisSwitzer” or “the Company”).
MorrisSwitzer is a leading architecture and design firm focused exclusively on the healthcare and life sciences industries. From its headquarters in Williston, Vermont and additional offices in Boston, Massachusetts and Portland, Maine, the Company services a client base consisting of leading healthcare, academic and private institutions in the Northeastern U.S. MorrisSwitzer has an impressive portfolio of healthcare-focused work, having completed over 3,000 projects across over 130 hospitals and medical facilities since inception. Morris Switzer was founded in 1990 by Dan Morris, and today is led by Dan and six additional partners including Jill Boardman, Jennifer Arbuckle, Jason Carney, Thomas Morris, Bill Repichowskyj, and Dale Taglienti. For more information on Morris Switzer, please visit the Company’s website at www.morrisswitzer.com.
The existing partners of MorrisSwitzer will remain significant shareholders of the firm and will continue to lead the day-to-day operations of the Company. “We are energized about the partnership between Keystone and MorrisSwitzer,” commented Dan Morris. “With Keystone’s experience in our industry and the greater access to resources we’ll have as a result of this investment, we plan to accelerate our strategic growth plan for the business.”
MorrisSwitzer represents Keystone’s fourth investment in the architecture/engineering industry. “The opportunity with MorrisSwitzer was a natural fit for Keystone given our experience in the architecture and engineering industry, as well as management’s desire for a partner with a long-term mentality,” noted Jason Van Zant, Principal of Keystone Capital. “The foundation that Dan, Jill Boardman and the team have built is powerful and we are confident that together we can continue its impressive track record.”
MorrisSwitzer will be pursuing further partnerships with and acquisitions of complementary firms with the completion of this investment. Areas of interest for further investment post-closing will include other regional market leaders in healthcare architecture, as well as firms specializing in the laboratory and life sciences markets.
Terms of the transaction are not being disclosed. Senior debt financing was provided by The Private Bank, and legal counsel was provided to Keystone by Kirkland & Ellis LLP.
Jason Van Zant