Medical Devices Acquisitions in New Hampshire

JLL Partners, a New York-based middle market private equity firm, has announced an investment in Vascular Technology, Incorporated (VTI), a Nashua, New Hampshire-based medical device company that develops intraoperative Doppler systems and remote suction/irrigation solutions. As part of the transaction JLL partnered with entrepreneur Nilendu Srivastava and the VTI management team and appointed Greg Groenke as CEO and Lars Marcher as Executive Chairman to accelerate product development and market expansion.

Vapotherm, Inc. has closed a merger with a newly-formed entity organized and funded by an affiliate of Perceptive Advisors, with Perceptive investing $50.0 million of preferred equity and investment affiliates managed by SLR Capital Partners converting approximately $83.0 million of term debt into preferred equity (while retaining $40.0 million of term debt). As a result of the transaction Vapotherm’s common stock trading has been suspended on OTCQX and the company has requested delisting, reflecting a take-private recapitalization to restructure the balance sheet and provide new preferred equity financing.

Riddell has acquired Simbex, a product design and development firm with deep expertise in sports, medical, and health technologies, cementing a long-standing partnership to accelerate Riddell’s smart helmet and athlete-monitoring technology roadmap. The acquisition brings Simbex’s engineering, AI/analytics, and commercialization capabilities in-house to enhance next-generation head protection, performance monitoring, and medical-device development.

Vander-Bend Manufacturing, a portfolio company of Aterian Investment Partners, has acquired Omni Components Corporation, a precision manufacturer of tight-tolerance medical consumables headquartered in Hudson, New Hampshire. The add-on expands Vander-Bend’s medical technology capabilities and manufacturing footprint in the Northeast and Southwest, adding two facilities and complementary capabilities for spinal, cardiovascular and tendon-related OEM products. Omni’s founder and owner, Frank Stone, and his team will join the Vander-Bend platform.

Life Science Outsourcing, Inc. (LSO), a PE-backed contract manufacturer headquartered in Brea, California, has acquired J-Pac Medical, a Somersworth, New Hampshire-based medical device and diagnostics contract manufacturer. The acquisition expands LSO's capabilities into biomaterials, reagent blister packaging, thermoforming and sterilization, broadening its service offering and East Coast and Costa Rica production footprint.

Funds managed by Carlyle have acquired a significant minority equity stake in Resonetics, valuing the specialized medical device contract manufacturer at approximately $2.25 billion. Carlyle will join existing investor GTCR as a meaningful shareholder while Sverica retains a minority position; the investment will support Resonetics’ continued organic growth, international expansion and add-on acquisition strategy.

Salona Global Medical Device Corporation (SGMD) acquired Simbex, LLC, an IP-driven medical device design and product company that generated approximately US$8.0 million in 2020 revenue. The acquisition is intended to expand SGMD’s recovery-medicine product portfolio, leverage manufacturing capabilities, and increase annualized run-rate revenues to over $24 million.

Capital Resource Partners, a Boston-based private investment firm, has acquired Endur ID, a Hampton, New Hampshire manufacturer of durable patient identification wristbands and related identification products. The founders Robert and Sharon Chadwick sold the business and Robert Chadwick will remain actively involved post-closing.

Ampersand Capital Partners completed a majority recapitalization of American Laboratory Products Company (ALPCO) to provide growth capital for expanding ALPCO's diagnostics test kit offering, geographic reach, and R&D/production capabilities. Founders Richard and Jan Conley will remain shareholders, Sean Conley will continue as CEO, and Larry McCarthy, PhD was named Board Chairman.

Molded Devices, Inc. (MDI), a Tempe, Arizona-based plastics and rubber contract manufacturer, acquired MEDEFAB, a Jaffrey, New Hampshire OEM manufacturer of single-use plastic medical devices. The transaction, advised by XLCS Partners, closed on January 20, 2020 and expands MDI's medical device manufacturing capabilities and U.S. footprint.

Torque Medical Holdings, LLC, a platform company founded by New York-based private equity firm Torque Capital Group, has acquired J-Pac and Doyen Medipharm, a contract manufacturer and precision machinery provider serving the medical device and pharmaceutical industries. The deal brings together advanced medical-product manufacturing and high-volume precision production equipment under Torque's ownership to expand manufacturing capabilities and accelerate growth, including planned investments and footprint expansion in Asia.