Vance Street Capital LLC acquired A&E Medical Corp, a maker of single-use products used in cardiovascular procedures based in Farmingdale, New Jersey. Terms of the transaction were not disclosed. Vance Street partnered with Lexington Partners, Neuberger Berman Private Equity funds, RCP Advisors and Madison Capital Funding LLC, all of whom co-invested equity alongside Vance Street in support of the transaction.
Los Angeles –February 25, 2016 – Vance Street Capital LLC, a Los Angeles-based private equity firm, today announced it has acquired A&E Medical Corporation, a leading medical device OEM designer and contract manufacturer primarily focused on single-use products used in cardiovascular procedures. This is Vance Street’s first acquisition from its second fund. Terms of the transaction were not disclosed.
Founded in 1968 and headquartered in Farmingdale, New Jersey, A&E Medical is a leading designer and manufacturer of a high strength sternum closure system along with a wide variety of temporary cardiac pacing wires and extension leads, stainless steel sutures, surgical punches. electrosurgical instruments, and neurosurgical scalp clips.
“A&E Medical is a strategic fit with Vance Street’s focus on investing in companies that provide engineered solutions, with deep customer relationships and a history of growth throughout economic cycles. With over a decade of experience investing in the medical sector, we look forward to leveraging our strong operating and investing experience to help A&E Medical accelerate its growth in the years ahead,” said Brian Martin, Partner at Vance Street Capital.
“A&E Medical’s superior product design and manufacturing capabilities, its robust history of producing and delivering high quality products on-time, complimented by its well-entrenched and seasoned professional sales organization have earned the company its well-deserved reputation and strong brand,” said Mike Janish, Operating Partner at Vance Street Capital.
“We look forward to building on the platform A&E Medical’s founders have created through both organic development and strategic acquisitions to further enhance the Company’s product portfolio to continue to better serve our customers,” said John LeRosen, Vice President at Vance Street Capital.
Paul Hastings LLP acted as legal advisor to Vance Street Capital. Stephens Inc. and Morgan, Lewis & Bockius LLP served as financial and legal advisors to A&E Medical Corporation. Vance Street partnered with Lexington Partners, Neuberger Berman Private Equity funds, RCP Advisors and Madison Capital Funding LLC, all of whom co-invested equity alongside Vance Street in support of the transaction. The acquisition was funded with senior debt from BMO Harris Bank and BBVA Compass, and mezzanine debt from Madison Capital Funding LLC.
About Vance Street Capital LLC
Vance Street Capital is a Los Angeles-based private equity firm which invests in middle-market businesses in the medical, aerospace, defense and industrial sectors. For over two decades, Vance Street’s partners have worked with management, family owners and other co-investors to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information please visit: www.vancestreetcapital.com.