Private equity-backed Aspen Surgical acquires Tennessee-based surgical device maker - MiBiz: West Michigan Business News

CALEDONIA — Private equity-backed Aspen Surgical Products Inc. continues to turn by acquisition with its latest woody to bolster its portfolio with complementary surgical products. 

The shaper of disposable surgical products said contiguous that it had completed a woody to get Nashville, Tenn.-based Symmetry Surgical Inc., a shaper of surgical and specialty instrumentation, electrosurgery products, and minimally invasive surgical devices. 

Previously owned by backstage equity steadfast RoundTable Healthcare Partners, Symmetry Surgical besides has operations successful Louisville, Ky., arsenic good arsenic successful Germany and Australia. 

The woody adds the “clinically preferred” Bovie, Bookwalter and Greenberg brands to Aspen Surgical’s portfolio, helps diversify the company’s concern into adjacent merchandise categories, and bolsters the firm’s selling opportunities with a direct-sales infrastructure, according to a statement. 

“Symmetry has a longstanding past of providing high-quality surgical devices and value-added services to the wellness attraction community,” Aspen Surgical CEO Jason Kriesers said successful a statement. “The portfolio is synergistic with Aspen and supports our ngo to present indispensable products that amended information and ratio successful the surgical environment.”

The woody is Caledonia-based Aspen Surgical’s 15th acquisition since Boston-based Audax Private Equity acquired the institution successful 2019 from Hill-Rom Holdings for $170 million. 

This year, Audax closed connected a single-asset continuation money to enactment an further undisclosed concern successful Aspen, arsenic MiBiz antecedently reported. 

“Symmetry’s household of category-leading products and gold-standard brands align good with Aspen’s existing portfolio,” Audax Managing Director David Wong said successful a statement. “We’re excited to proceed investing down the Aspen level done some integrated initiatives and strategical acquisitions.”

Terms of the woody for Symmetry Surgical were not disclosed. 

Lake Forest, Ill.-based RoundTable Healthcare Partners acquired a bulk involvement successful Symmetry Surgical successful July 2016 and partnered with absorption to turn the business. 

RoundTable besides antecedently owned Aspen Surgical, having acquired the company successful 2006 from laminitis Dan Bowen. The backstage equity steadfast aboriginal sold Aspen Surgical to Hill-Rom successful 2012 for $400 cardinal successful cash. 

In the Symmetry Surgical deal, Aspen Surgical and Audax were advised by Minneapolis, Minn.-based concern banking steadfast Piper Sandler & Co. 

Antares Capital, Golub Capital, BMO Sponsor Finance, and Apogem Capital provided elder indebtedness financing for the deal. Churchill Asset Management, MetLife Investment Management, and Northwestern Mutual Capital provided inferior indebtedness financing, portion Linden Structured Capital provided preferred equity financing for the deal. 

“There is large powerfulness successful bringing the people, products, and brands of Aspen and Symmetry together,” Symmetry Surgical CEO Brian Straeb said successful a statement. “Together with Aspen, we person the capableness to service our customers and their patients crossed much surgical settings, marketplace segments, and geographies with a broad, clinically applicable portfolio. We volition beryllium capable to assistance simplify and heighten the lawsuit acquisition with a broader offering of surgical products, services, and tools from a azygous partner.”