Avalign Technologies, a portfolio company of Arlington Capital Partners, has completed the acquisitions of Thortex and Millennium Surgical. Arlington Capital acquired Avalign, a manufacturer of orthopedic implants and instruments, from RoundTable Healthcare Partners in June 2015.
Thortex is a provider of porous coatings, metal injection molding services, CNC machining, finishing and assembly services to medical device OEMs. Thortex is one of the only companies in the world able to provide porous coating for use in titanium and cobalt-chrome orthopedic implants. The company was founded in 1990 and has a 40,000 square foot facility in Portland, OR (www.thortexinc.com).
Millennium is a distributor of specialty surgical instruments to hospital and ambulatory surgical center customers. The company has more than 17,000 branded SKUs across a variety of clinical areas including neurosurgery, ophthalmics and orthopedics. Millennium is based near Philadelphia in Narberth, PA (www.surgicalinstruments.com).
“Thortex and Millennium nicely complement and expand the manufacturing technologies and services that Avalign offers and provide us with the ability to continue gaining share with our customers,” said Forrest Whittaker, CEO of Avalign Technologies.
Avalign Technologies is a provider of coatings and is a full-service precision manufacturer of implants, specialty instrumentation, cutting instruments, and delivery systems used in the orthopedic medical device and specialty surgical markets. The company operates under five divisions: Precision Machined Instruments; Implants; Cutting Instruments; German Specialty Instruments; and Cases & Trays. Avalign Technologies is headquartered north of Chicago in Bannockburn, IL (www.avaligntech.com).
“The incorporation of Thortex and Millennium into the Avalign platform adds new and proprietary capabilities which enhance Avalign’s strategic position in the marketplace,” said Matt Altman, a Managing Partner at Arlington Capital. “The increased scale and breadth of services and technologies provided by these acquisitions will accrue to the benefit of Avalign’s customers and bolster Avalign’s already impressive growth.”
Arlington Capital Partners has $2.2 billion of committed capital and invests in buyouts and recapitalizations of companies valued from $50 million to $500 million. Sectors of interest include government services and technology; aerospace and defense; healthcare; and business services and software. The firm is investing out of its fourth fund which closed in July of 2016 with $700 million of capital. Arlington Capital is based in Chevy Chase, MD (www.arlingtoncap.com).
“The proprietary technologies developed by both Thortex and Millennium represent truly unique offerings in the market,” said Malcolm Little, a Principal at Arlington Capital. “We are pleased to complete these acquisitions and continue to pursue additional opportunities to strategically scale our business.”
© 2017 Private Equity Professional | July 27, 2017
