Arcline Investment Management has acquired Engineering by Design (EBD) from the company’s founders.
EBD is a provider of medical device and component manufacturing equipment including coil winding equipment, catheter laminators, reflow machines, and spooling and unspooling machines.
EBD’s equipment and consumables are used by medical device OEMs and contract manufacturers to manufacture devices and therapeutic components used in cardiovascular and neurovascular interventional therapies. EBD was founded by Dale and Judy Henson in 1985 and is based in San Jose.
“As a founder-owned business, finding the right partner to lead EBD through its next phase of growth was the critical determining factor when deciding who to sell our company to,” said Mr. Henson. “Arcline’s deep experience in our markets, knowledge of our products and growth mindset made them the perfect fit for EBD.”
The buy of EBD is the fifth acquisition for Arcline’s medical manufacturing equipment platform. Prior acquisitions include Glebar, Everite Machine Products, SYNEO and Cath-Tip.
Glebar is a New Jersey-based manufacturer of micromachining, centerless grinding and electrochemical grinding systems used in the production of medical guidewire and minimally invasive surgical components. Simultaneous with the buy of Glebar by Arcline in June 2020, Glebar acquired the electrochemical grinding assets of Everite Machine Products, from Eureka Equity Partners. New Jersey-based Everite provides electrochemical grinding equipment as well as grinding wheels and electrolyte products that are used in the healthcare and medical device sectors. SYNEO, a Florida-based manufacturer of tooling and machines used in the production of medical devices including catheters, was acquired in October 2020 from Rockwood Equity. SYNEO quickly added on with the November 2020 buy of Integrated Medical Holdings (DBA Cath-Tip), a Utah-based maker of tooling and machines used in catheter manufacturing.
“We are thrilled to welcome EBD into the Arcline family of leading equipment, consumable and service companies supplying the interventional medical device market,” said Arcline in a released statement. “Dale, Judy and their team have built a tremendous company that is recognized by many of the leading interventional medical OEMs for providing the highest quality equipment for their most demanding and precise applications.”
Arcline makes control investments in companies that have from $10 million to $100 million of EBITDA and enterprise values of up to $1 billion. Sectors of interest include industrial technology, life sciences, aerospace and defense, personal care, medical products, and specialty chemicals. The firm closed its first fund, Arcline Capital Partners LP, with $1.5 billion of committed capital in March 2019. Arcline was founded in September 2018 and has offices in San Francisco and New York.
Dayton-based Lockhart Group was the financial advisor to EBD on this transaction.
Private Equity Professional | December 18, 2020