Vance Street Buys A&E Medical
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Vance Street Buys A&E Medical

a and e nf1Vance Street Capital has acquired A&E Medical Corporation, a medical device manufacturing company. This is Vance Street’s first acquisition from its second fund. Co-investing in the equity were Lexington Partners, Neuberger Berman Private Equity, RCP Advisors and Madison Capital Funding.

a and e nf12A&E Medical is a designer and contract manufacturer of medical devices primarily focused on single-use products used in cardiovascular procedures. Specific products include high strength sternum closure systems, temporary cardiac pacing wires and extension leads, stainless steel sutures, surgical punches, electrosurgical instruments, and neurosurgical scalp clips. The company was founded in 1968 and is headquartered south of New York in Farmingdale, NJ (www.aemedical.com).

Mike Janish nf1“A&E Medical’s product design and manufacturing capabilities, its history of producing and delivering high quality products on-time, complimented by its well-entrenched sales organization have earned the company its well-deserved reputation and strong brand,” said Mike Janish, Operating Partner at Vance Street Capital.

Vance Street makes control investments in companies with enterprise values of $30 million to $200 million and EBITDA of $5 million to $20 million. Sectors of interest include aerospace, defense, industrial, and medical. The firm is based in Los Angeles (www.vancestreetcapital.com).

Brian Martin nf1“A&E Medical is a strategic fit with Vance Street’s focus on investing in companies that provide engineered solutions, with deep customer relationships and a history of growth throughout economic cycles,” said Brian Martin, a Partner at Vance Street Capital. “With over a decade of experience investing in the medical sector, we look forward to leveraging our strong operating and investing experience to help A&E Medical accelerate its growth in the years ahead,”

“We look forward to building on the platform A&E Medical’s founders have created through both organic development and strategic acquisitions to further enhance the company’s product portfolio,” said John LeRosen, Vice President at Vance Street Capital.

Stephens Inc. (www.stephens.com) and Morgan, Lewis & Bockius (www.morganlewis.com) served as financial and legal advisors to A&E Medical Corporation.

Senior debt for the transaction was provided by BMO Harris Bank (www.bmoharris.com) and BBVA Compass (www.bbvacompass.com) and mezzanine debt was provided by Madison Capital Funding (click HERE for the MCF website).

Paul Hastings (www.paulhastings.com) was the legal advisor to Vance Street Capital.

© 2016 PEPD • Private Equity’s Leading News Magazine • 2-25-16

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