MedPlast, a portfolio company of Baird Capital, has acquired Orthoplastics, a manufacturer of polyethylene products used in the orthopedic implant market. JZ Capital Partners and River Cities Capital Funds are co-investors in this transaction alongside Baird.
Orthoplastics is a manufacturer of ultra-high-molecular-weight-polyethylene (UHMWPE). The company supplies its UHMWPE products in sheet and rod formats and shaped or cut to any size. Customers include orthopedic device OEMs. The company is based in Bacup, UK (www.orthoplastics.com).
“Implantable medical devices occupy a highly complex and regulated market space with high barriers to entry,” said MedPlast CEO Harold Faig. “The acquisition of Orthoplastics gives us a leading position in that market while enhancing our global capabilities.”
MedPlast is a manufacturer of molded plastic and rubber components used in the healthcare and commercial markets. MedPlast operates five plants across the United States with approximately 800 employees. The company is based in Tempe, AZ (www.medplastgroup.com).
“This transaction strategically positions MedPlast for future growth,” said Andrew Brickman, Partner in Baird Capital’s U.S. Private Equity group. “With continued improvements in global healthcare, MedPlast’s robust product line addresses a need for effective orthopedic solutions for an increasingly aging population.”
Baird Capital, the direct private investment arm of Robert W. Baird & Co., invests in lower middle-market companies in the manufactured products, healthcare and business services sectors. The firm invests from $15 million to $35 million in companies with enterprise values of $25 million to $125 million and EBITDAs greater than $5 million. Baird Capital was founded in 1989 and is based in Chicago (www.bairdcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-15-13
