Clearlake Capital-backed TEAM Technologies acquired ViruDefense, Inc, which supplies domestically produced N95 respirator masks. TEAM Technologies, which Clearlake acquired in 2018, is a manufacturer focused on medical, oral and dental care, infection prevention and control and other healthcare uses.
TEAM Technologies, Inc. (“TEAM”), an innovative North American healthcare specialty manufacturer focused on providing advanced solutions in medical, oral & dental care, infection prevention and control, and other healthcare use cases, announced today that it has acquired ViruDefense, Inc. (“ViruDefense”), a supplier of fully domestically produced N95 respirator masks. TEAM is backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), who acquired the company in 2018. Financial terms were not disclosed.
Headquartered in Burlington, MA, ViruDefense serves as an important link in the domestic supply chain for personal protective equipment (“PPE”) for frontline workers. Developed in partnership with TEAM, ViruDefense’s model VDI-100 mask was designed to combine the filtration capabilities of an N95 respirator with the fluid resistance of a surgical mask and is one of only 18 products on the Certified Equipment List of the Centers for Disease Control and Prevention for N95 masks for use during the current public health emergency. In the past year, ViruDefense has delivered over 10 million N95 masks to healthcare workers and has capacity to manufacturer over one million units per week to continue to meet the growing demand for fully domestically produced PPE.
“TEAM has built a strong platform in infection prevention and control end markets, and we are thrilled to build upon that position by combining with our partners at ViruDefense,” said Marshall White, President and CEO of TEAM. “Having partnered with Pieter at the original product launch, we believe this acquisition is an exciting next chapter in our relationship and furthers both of our collective missions to deliver the highest quality healthcare products in the market.”
“During this pandemic, we were able to rapidly scale production of our masks using exclusively domestic-sourced materials,” stated Pieter Muntendam, MD, Founder of ViruDefense. “We are proud to pass the stewardship of this great product to our partners at TEAM Technologies, who have the capabilities to grow and advance the franchise we started with the ultimate goal of providing a reliable source of personal protective equipment to essential workers both during the current pandemic, but also beyond.”
About TEAM Technologies
Headquartered in Morristown, TN with 13 facilities throughout the United States, TEAM Technologies is an innovative solutions provider supporting the foremost global healthcare products companies. With its ‘ONE TEAM, MANY TECHNOLOGIES’ philosophy, TEAM boasts an extensive lineup of manufacturing and design processes tailored to provide advanced solutions in medical, oral & dental care, infection prevention and control, and other healthcare use cases. With an entrepreneurial mindset and a management team with deep industry experience, TEAM Technologies leverages seamless, turnkey processes and innovation to positively impact the success of TEAM’s customer partners. For more information, visit teamtech.com.
Located in Burlington, MA, ViruDefense Inc. is a provider of domestically produced N95 respirators. ViruDefense believes high-quality domestically manufactured N95s should form the cornerstone of the US healthcare supply chain. For more information, visit virudefense.com.
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials and consumer. Clearlake currently has approximately $30 billion of assets under management and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.