Private equity (PE) company Arlington Capital has signed a deal to acquire US-based medical device manufacturer TEAM Technologies from Clearlake Capital for an undisclosed sum.
TEAM Tech specialises in manufacturing and strategic supply chain solutions and provides end-to-end outsourced design and manufacturing services to medical device and pharmaceutical OEMs. Recently, the company has been developing itself as a specialist in advanced medical devices that are critical to healthcare systems.
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Arlington Capital managing partner Matt Altman said: “TEAM Tech is not only focused on providing the world’s leading healthcare OEMs with holistic solutions for all their design and manufacturing needs but also on strengthening our healthcare supply chains to improve the delivery of these critical goods to end users.”
Arlington principal Gordon Auduong said: “As one of the leading end-to-end providers in this sector, we look forward to working with TEAM Tech’s management team and building on its strong foundation to continue adding capabilities and customers, both through organic investment and strategic acquisitions.”
With 25 years of experience, TEAM Tech CEO Marshall White stated that he viewed Arlington as the company best positioned to accelerate TEAM Tech’s growth and take its business to the next level.
Arlington is currently investing out of its $3.8bn VI Fund, with investments made in more than 175 companies so far across the healthcare, aerospace, and business service sectors since its inception in 1999. Recent healthcare investments include Afton Scientific, Riverpoint Medical, and Grand River Aseptic Manufacturing.
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By GlobalDataArlington enlisted Harris Williams as financial advisor and Goodwin Procter LLP as the legal adviser throughout the buy-up process of TEAM Tech.
In other healthcare PE deals this month, Charme Capital Partners acquired Germany-headquartered biotech Centogene for around $9m and Nexxus Iberia’s PE Fund II secured a majority stake in Spanish diagnostic imaging company Vivo Diagnostico.
