Audax Private Equity has acquired Belmont Instrument Corporation, a provider of fluid warming infusion systems.
Belmont’s blood and fluid warming systems are used globally in war zones, hospitals, ambulances, flight line helicopters, ski patrols or anywhere warm blood and fluids are needed. The company was founded in 1980 by Dr. George Herzlinger and has 80 employees. Belmont is headquartered near Boston in Billerica, MA (www.belmontinstrument.com).
“Belmont is a best-in-class provider of life-sustaining fluid warming infusion systems. We are excited to partner with management to build on Belmont’s leading position and accelerate growth by continuing its investment in new product development, global marketing and salesforce expansion, and through acquisitions of complementary patient warming and critical care medical technologies,” said Geoffrey Rehnert, Co-Chief Executive Officer of Audax Group.
Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing. The firm was founded in 1999 and has offices in Boston, New York and Menlo Park (www.audaxgroup.com).
Mirus Capital Advisors was the financial advisor to Belmont on this transaction.
© 2017 Private Equity Professional | December 19, 2017