Vance Street Capital’s A&E Medical Corporation, an OEM cardiovascular medical device maker, has acquired Medical Concepts Europe (MCE). MCE is the first add-on for A&E since being acquired by Vance Street in February 2016.
MCE is a maker of bi-polar, quad-polar and mono-polar temporary pacing wires and single-use patient extension cables used in cardio-thoracic surgeries. The company’s products are sold through a network of worldwide distributors and are used in cardiovascular hospitals throughout Europe, the Middle East, Asia and North America. MCE is headquartered southeast of Rotterdam in Gemert, Netherlands (www.medicalconcepts.eu).
“MCE is a strong strategic fit with A&E Medical and will enable the combined businesses to provide an even broader portfolio of single-use medical products to the world’s leading cardiovascular hospitals” said Brian Martin, Partner at Vance Street.
A&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, led by President Eric Sklar, was founded in 1968 and is headquartered south of New York in Farmingdale, NJ (www.aemedical.com).
“The addition of MCE not only furthers A&E’s position as a leader in the temporary pacing and connecting cable space, but also provides A&E with a strategic footprint in continental Europe” said Mike Janish, 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).
Co-investing with Vance Street in A&E are Lexington Partners, Neuberger Berman Private Equity, RCP Advisors and Madison Capital Funding.
Paul Hastings provided legal services to Vance Street Capital for this transaction. Rob Lips of R. Lips Healthcare GmbH served as financial advisor to Medical Concepts Europe.
© 2016 Private Equity Professional | December 20, 2016