Audax Completes Sale of Laborie Medical

Audax Completes Sale of Laborie Medical

laborie nf1Audax Private Equity has completed the sale of Laborie Medical Technologies to Patricia Industries, a wholly-owned subsidiary of Swedish conglomerate Investor AB.

laborie nf33Laborie Medical Technologies is a developer, manufacturer and marketer of medical technology and consumables used in urological, pelvic health and gastrointestinal applications. Customers include physician offices, hospitals, and mobile medical services providers.  The company is led by CEO Brian Ellacott and is headquartered near Toronto in Mississauga (

“Audax was a tremendously valuable partner to Laborie,” said Mr. Ellacott. “Together we executed a transformational growth strategy which included 14 add-on acquisitions. We are excited to continue growing Laborie in partnership with Patricia Industries.”

audax nf44The 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 (

Geoffrey Rehnert nf55Audax acquired Laborie in August 2012 and completed 14 add-on acquisitions that expanded the company’s product lines and market reach. “Brian Ellacott and the entire Laborie team have done an extraordinary job transforming the company through add-on acquisitions and product development from a manufacturer of capital equipment for urodynamic testing into a fully-integrated medical device company with a market-leading position in urology and a rapidly growing gastroenterology business,” said Geoffrey Rehnert, Co-Chief Executive Officer of Audax Group.

investor AB nf1Patricia Industries is a wholly-owned subsidiary of Investor AB and makes control investments in companies with strong market positions, brands, and corporate cultures. Investor AB is a publicly-traded investment company controlled by the Wallenberg family, a prominent Swedish family renowned as bankers, industrialists, politicians, bureaucrats, and diplomats. The Wallenberg family tries to maintain a low-key public profile – the family motto is “Esse non-Videri” (Latin for “To be, not to be seen“). Investor AB was founded in 1916 (

Jefferies ( and Harris Williams & Co. ( were the financial advisors to Laborie and Audax.

© 2016 Private Equity Professional • 9-21-16

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