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Pharos Capital Exits Stake as Pioneer Surgical Technology is Sold



7/19/2013 10:20:03 AM

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DALLAS & NASHVILLE, Tenn.--(BUSINESS WIRE)--Pharos Capital Group, LLC, a private equity firm based in Dallas and Nashville, announced it has sold its stake in portfolio company Pioneer Surgical Technology, Inc. ("Pioneer") as part of the company's acquisition by RTI Biologics Inc. for $130 million. Pioneer, based in Marquette, MI, is a leading manufacturer and distributor of metal and synthetic implant products for the orthopedics, biologics, spine, trauma and cardiothoracic markets. Pharos first invested in the company in December 2006, leading a syndicate of investors in a $30.5 million Preferred Equity private placement. Pharos later led a follow-on Series B investment of $17 million in December 2008. Both investments were made out of the firm's Pharos Capital Partners II fund.

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