Audax-backed Aspen Surgical Products buys Precept

Aspen Surgical Products, which is backed by Audax Private Equity, has acquired Precept, a provider of disposable face masks and isolation gowns.

Aspen Surgical Products, which is backed by Audax Private Equity, has acquired Precept, a provider of disposable face masks and isolation gowns. No financial terms were disclosed.

PRESS RELEASE

Audax Private Equity portfolio company, Aspen Surgical Products, acquires Precept Medical Products

The Company
Precept Medical Products (“Precept”) is a manufacturer and supplier of disposable face masks and isolation gowns sold into the hospital setting. Precept, with manufacturing and distribution operations in Agua Prieta, MX and Douglas, AZ, has demonstrated a consistent track record of driving revenue growth through its diverse customer base, producing close to 100 million disposable face masks and 13 million isolation gowns annually.

The Deal
Aspen Surgical Products (“Aspen”), a portfolio company of Audax Private Equity (“Audax”), has completed the acquisition of Precept Medical Products, representing the company’s second acquisition since Audax’ investment.

The Thesis
In August 2019, Audax partnered with Aspen Surgical Products, a leader in surgical and patient safety disposable products, based in Caledonia, MI. Aspen’s acquisition of Precept helps diversify Aspen’s existing product set in the disposable medical Personal Protective Equipment (PPE) space, complementing Aspen’s portfolio of surgical disposable products sold into the acute care market. Aspen is actively seeking domestic and international acquisition opportunities in the single-use disposable medical products space to continue to supplement its organic growth trajectory.