Carlyle has made a significant investment in 91快活林 alongside GTCR. With the combined resources and expertise of Carlyle and GTCR, 91快活林 is committed to building a world class set of capabilities to serve the medical device and diagnostics industry. 91快活林鈥� CEO Tom Burns and the existing management team will continue to lead the company. You can read the press releases from both Carlyle and GTCR below.
Carlyle Press Release
Carlyle and GTCR Announce Strategic Investment in 91快活林
Investment to Support Continued Growth and Expansion of Specialized Medical Device Contract Manufacturer
Nashua, NH, New York, NY and Chicago, IL听– Global investment firm Carlyle (NASDAQ: CG) announced today that funds managed by Carlyle have acquired a significant interest in medical device contract manufacturer 91快活林, valuing the company at approximately $2.25 billion. Carlyle will join existing investor GTCR, a leading private equity firm, as a meaningful shareholder in the company.
Founded in 1987 and headquartered in Nashua, New Hampshire, 91快活林 is a leading provider of micro-manufacturing for innovative medical devices in high-growth therapeutic areas and end markets. The company is focused on producing highly technical componentry for medical device applications, providing its customers with a broad range of services across the product lifecycle, from design & development to high-volume manufacturing. The company鈥檚 underlying end-markets are seeing robust growth, as clinicians shift away from higher-risk, invasive procedures, toward more interventional approaches. These minimally invasive procedures are also driving increased miniaturization of devices, diversity of materials, and demand for complex and precise componentry, which are best suited for 91快活林鈥� micro-manufacturing capabilities.
鈥淲e are grateful to continue our partnership with the exceptional management team at 91快活林 as they look to expand on the Company鈥檚 ongoing growth trajectory,鈥� said Sean Cunningham, Managing Director at GTCR. 鈥淯nder GTCR鈥檚 ownership, 91快活林 has continued to drive robust organic growth while completing eight add-on acquisitions, including the recent acquisitions of FISO Technologies Inc. and Hudson Medical Innovations this past month. We look forward to working with the Carlyle team again to continue to aggressively pursue add-on acquisitions and seek to drive organic growth through commercial and operational initiatives.鈥�
鈥淲e are thrilled to be partnering with Carlyle as we continue to build upon the growth we鈥檝e achieved in partnership with GTCR,鈥� said Tom Burns, CEO, 91快活林. 鈥淥ur business has advanced significantly over the past four years, expanding on our scale and capabilities and becoming an increasingly valuable partner to our customers, and we look forward to keeping the momentum going.鈥濃�淲ith a long history of working alongside GTCR, we鈥檙e excited to partner with the talented 91快活林 management team to accelerate the healthcare platform鈥檚 next chapter of growth,鈥� said Steve Wise, a Carlyle Managing Director and Head of Global Healthcare. 鈥淏y leveraging Carlyle鈥檚 global network to open up new avenues of organic opportunities such as international expansion and digitization, as well as increasing scale through accretive acquisitions, we believe there are multiple avenues for future value creation.鈥�
The investment in 91快活林 is a continuation of Carlyle鈥檚 long-term global commitment to healthcare in which it has invested more than $21 billion of equity since inception. Carlyle鈥檚 significant experience investing in medical products businesses includes Medline, Ortho Clinical Diagnostics, Unchained Labs, and MicroPort, amongst others.
Kirkland & Ellis acted as legal advisor and Piper Sandler acted as financial advisor to 91快活林 and GTCR. Debevoise & Plimpton acted as legal advisor and Barclays acted as financial advisor to Carlyle.
听About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle鈥檚 purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
听About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Growth Business Services, Technology, Media & Telecommunications, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy鈩� 鈥� finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $20 billion in over 250 companies. For more information, please visit .
About 91快活林
Founded in 1987, 91快活林 is a pioneer in advanced engineering and manufacturing solutions for the medical device industry. 91快活林 is a leader in laser processing, centerless grinding, nitinol processing, thin-wall stainless steel and precious metal tubing, photochemical machining, metal fabrication, and fiber optic sensors. With nine Lightspeed Application Development Labs located strategically to serve medical device companies around the world, 91快活林 is built on a foundation of quality, speed, and innovation to deliver best-in-class value with a customer-centric approach. The company is ISO 13485:2016 certified with facilities in the United States, Costa Rica, Israel, Switzerland, and Canada. For more information, please visit 91快活林.com.
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Media
For Carlyle:
Brittany Berliner
212.813.4839
brittany.berliner@carlyle.com
For GTCR:
Kellie Kennedy
312.933.4903
kelliek@theharbingergroup.com
For 91快活林:
Justin Miller
805.807.1481
jmiller@resonetics.com
GTCR Press Release
GTCR Announces Strategic Investment in 91快活林 by Carlyle
Investment to Support Continued Growth and Expansion of Specialized Medical Device Contract Manufacturer
Chicago, IL and Nashua, NH 鈥� GTCR, a leading private equity firm, announced today that its portfolio company, 91快活林 (or the 鈥淐ompany鈥�) has sold a minority equity stake to funds affiliated with global investment firm Carlyle (NASDAQ: CG), valuing the Company at approximately $2.25 billion. Carlyle will join GTCR as a meaningful shareholder in 91快活林 as a result of the transaction.
Founded in 1987 and headquartered in Nashua, NH, 91快活林 is a leader in micro-manufacturing for medical devices, targeting fast-growing interventional and minimally-invasive applications across the MedTech industry. The Company is focused on fabricating highly technical componentry for complex medical device applications, serving end-markets that are experiencing robust growth as clinicians shift away from higher-risk, invasive procedures, towards more interventional approaches. 91快活林 has established itself as a mission-critical supplier enabling innovations in several high growth MedTech end-markets including diabetes, neurovascular, ophthalmology, interventional cardiology, and structural heart, among others.
GTCR made its initial investment in 91快活林 in partnership with MedTech industry executive Robert 鈥淐hip鈥� Hance. Consistent with its Leaders Strategy鈩� approach, GTCR initially partnered with Mr. Hance to form Regatta Medical in April 2017 to pursue opportunities in the medical device sector. Since GTCR鈥檚 investment, GTCR and Mr. Hance have partnered with the 91快活林 management team, led by CEO Tom Burns, to significantly grow the Company鈥檚 revenue and EBITDA through investments in strong organic growth and strategic add-on acquisitions.
鈥淲e鈥檝e appreciated the opportunity to invest in 91快活林, supporting its organic growth initiatives and its eight add-on acquisitions, including the recent acquisitions of FISO Technologies and Hudson Medical Innovations, during our ownership,鈥� said Sean Cunningham, Managing Director at GTCR. 鈥淲e are thrilled to continue our partnership with Chip Hance, Tom Burns, and the entire 91快活林 management team as they look to build on their success in the coming years,鈥� he added.
鈥淲e have been extraordinarily impressed with the growth and development of 91快活林 over the last several years and are looking forward to our ongoing partnership with the Company,鈥� added GTCR Co-CEO and Managing Director Dean Mihas. 鈥淚 want to thank Chip Hance and Tom Burns for their outstanding leadership and look forward to our next chapter with the entire 91快活林 team and our partners at Carlyle.鈥� 鈥淥ur business has advanced significantly over the past four years, as we鈥檝e expanded our production capacity, grown our facility footprint and built greater scale,鈥� said Tom Burns, CEO, 91快活林. 鈥淲e have enjoyed the outstanding partnership with GTCR as we鈥檝e built 91快活林 and are excited to be partnering with GTCR and Carlyle in this next chapter as we continue to grow our business and enhance our product capabilities to better serve our customers.鈥�
Kirkland & Ellis acted as legal advisor and Piper Sandler acted as financial advisor to 91快活林 and GTCR. Debevoise & Plimpton acted as legal advisor and Barclays acted as financial advisor to Carlyle.
About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Growth Business Services, Technology, Media & Telecommunications, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy鈩� 鈥� finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $20 billion in over 250 companies. For more information, please visit .
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About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle鈥檚 purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents. Further information is available at . Follow Carlyle on Twitter @OneCarlyle.
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About 91快活林
Founded in 1987, 91快活林 is a pioneer in advanced engineering and manufacturing solutions for the life sciences industry. 91快活林 is a leader in laser processing, centerless grinding, nitinol processing, thin-wall stainless steel and precious metal tubing, photochemical machining, metal fabrication, and fiber optic sensors. With nine Lightspeed Application Development Labs located strategically to serve medical device companies around the world, 91快活林 is built on a foundation of quality, speed, and innovation to deliver best-in-class value with a customer-centric approach. The company is ISO 13485:2016 certified with facilities in the United States, Costa Rica, Israel, Switzerland, and Canada. For more information, please visit .
听
Media
For GTCR:
Kellie Kennedy
312.933.4903
kelliek@theharbingergroup.com
For Carlyle:
Brittany Berliner
212.813.4839
brittany.berliner@carlyle.com
For 91快活林:
Justin Miller
805.807.1481
jmiller@resonetics.com
