Ampersand Capital-backed Sterling acquires medical device firm RBC Medical Innovations

• As part of the transaction, David Montecalvo has been appointed CEO of the combined company
• Sterling founder Dan Sterling will remain on the senior leadership team and a board director
• Founded in 1988, Ampersand Capital Partners invests in the middle market

Sterling Medical Devices, a portfolio company of Ampersand Capital Partners, has recapitalized and merged with Lenexa, Kansas-based medical device company RBC Medical Innovations. No financial terms were disclosed.

Moonachie, New Jersey-based Sterling is a provider of design, development and regulatory services to the medical device industry.

As part of the transaction, David Montecalvo has been appointed CEO of the combined company. Sterling founder Dan Sterling will remain on the senior leadership team and a board director. RBC founder Carl Mayer has joined the board of directors.

On the deal, Trevor Wahlbrink, a partner at Ampersand, said in a statement, “We are extremely enthusiastic about the company that has been created following the combination of these two outstanding businesses. The partnership is a win-win for current and prospective customers and will provide a full outsourced solution for medical device innovation. We are thrilled to welcome David and Carl to the team and look forward to collaborating with them to continue building the business through both organic and inorganic means.”

Founded in 1988, Ampersand Capital Partners invests in the middle market. Ampersand targets the healthcare sector.