Cortec Recapitalizes Dr. Leonard’s Parent

Cortec Group Fund III has recapitalized Edison, NJ-based High Response Holdings, which mails the Dr. Leonard’s Healthcare and Carol Wright Gifts titles and has a syndication agreement to mail the cobranded Roaman’s Healthcare Catalog by Dr. Leonard’s. Cortec had acquired Dr. Leonard’s Heathcare Corp. in May 2002.

“While we have returned nearly all of our invested capital,” partner David Schnadig said in a statement, “we remain very enthusiastic about High Response’s future opportunities due to the company’s broad customer franchise, well-known brand names, excellent management team, superior control systems, and high return on invested capital. We and management continue to seek complementary acquisitions of direct marketers that will capitalize on these core strengths.”