Funds managed by Carlyle have completed the acquisition of Tarrytown Expocare Pharmacy from Sheridan Capital Partners, according to an announcement made on November 14, 2025. Sheridan will keep a minority ownership stake in Tarrytown following the transaction. The financial details were not disclosed.
Tarrytown Expocare Pharmacy is a long-term care pharmacy that focuses exclusively on serving individuals with intellectual and developmental disabilities (IDD) and those in behavioral health communities. The company collaborates with nurses and direct support professionals to provide pharmacy services, training, and resources aimed at improving medication accuracy and adherence.
Mark Lashley, CEO of Tarrytown, stated, “Tarrytown’s mission is to deliver exceptional pharmacy services for IDD providers. We are proud of the remarkable progress that we achieved with Sheridan, as their commitment to our patient-first philosophy has significantly strengthened our business. We are excited to partner with Carlyle who shares our passion and drive to continue rapidly scaling our footprint and impact for the IDD community.”
Joe Bress, Partner and Global Co-Head of Healthcare at Carlyle, commented on the acquisition: “We believe Tarrytown’s specialized IDD pharmacy model provides exceptional support to caregivers in improving their quality of care for IDD patients. We look forward to backing the Tarrytown team as it invests in enhancing and expanding the Company’s high-touch offering to continue serving IDD patients.” Rishi Modi, Principal at Carlyle focusing on healthcare investments, added, “Tarrytown has built a highly differentiated and trusted position in the IDD pharmacy market over the course of its history. We believe there is significant opportunity to further broaden the Company’s reach and impact across the IDD community nationwide, and we are excited to partner with Mark and the entire leadership team in this next chapter of growth.”
Sean Dempsey, Partner at Sheridan Capital Partners, reflected on their partnership: “Since the beginning of our partnership in 2020, our collaboration with the team at Tarrytown has been outstanding. Together, we established a robust sales team, marketing playbook, and completed several add-on acquisitions. We capitalized on key growth opportunities and strengthened Tarrytown’s operations, which resulted in nearly quadrupling the size of the business.”
Founded in Austin, Texas in 2007 serving just 150 individuals locally, Tarrytown now operates from 12 regional pharmacies across 36 states.
Carlyle is a global investment firm listed on NASDAQ under CG. As of September 30, 2025, it manages $474 billion in assets across private equity, credit markets, and other investment segments through offices worldwide. More information about Carlyle can be found at www.carlyle.com.
Sheridan Capital Partners is a private equity firm specializing in healthcare-related businesses including outsourced services and technology solutions.
Legal counsel for Tarrytown and Sheridan was provided by McDermott Will & Schulte along with Goodwin Procter; Houlihan Lokey acted as financial advisor. For Carlyle, Debevoise & Plimpton as well as Bass Berry & Sims served as legal counsel while Wells Fargo acted as financial advisor.
