A&E Medical Corp, a portfolio company of Vance Street Capital, has acquired Medical Concepts Europe, a Dutch provider of bi-polar, quad-polar and mono-polar temporary pacing wires and single-use patient extension cables used for cardio-thoracic surgeries. No financial terms were disclosed. Lexington Partners, Neuberger Berman Private Equity funds, RCP Advisors and Madison Capital Funding also invested equity in the deal alongside Vance Street to support it. R. Lips Healthcare GmbH acted as financial adviser to Medical Concepts Europe.
LOS ANGELES–(BUSINESS WIRE)–Vance Street Capital LLC, a Los Angeles-based private equity firm, and A&E Medical Corporation (“A&E Medical”), a leading cardiovascular medical device OEM, announced the acquisition of Medical Concepts Europe (“MCE”). MCE is the first add-on acquisition for A&E Medical, which was acquired by Vance Street Capital LLC in February 2016. Terms of the transaction were not disclosed.
Headquartered in the Netherlands, MCE is a leading provider of bi-polar, quad-polar and mono-polar temporary pacing wires and single-use patient extension cables specifically for cardio-thoracic surgeries. MCE’s products are found in the leading cardiovascular hospitals throughout Europe, the Middle East, Asia and North America.
“MCE is a strong strategic fit with A&E Medical and will enable the combined businesses to provide an even broader portfolio of single-use medical products to the world’s leading cardiovascular hospitals,” said Brian Martin, Partner at Vance Street Capital.
“The addition of MCE not only furthers A&E Medical’s position as a leader in the temporary pacing and connecting cable space, but also provides A&E Medical with a strategic footprint in continental Europe,” said Mike Janish, Partner at Vance Street Capital.
“We are excited to partner with the MCE management team to build on the world-class platform they have created to better serve the combined company’s customers,” said Eric Sklar, President of A&E Medical. “We believe our customers will benefit from the addition of MCE’s bi-polar and quad-polar pacing wires and are excited about the opportunity to provide MCE’s customers with A&E Medical’s industry-leading DoubleWire sternum closure systems.”
Paul Hastings LLP acted as legal advisor to Vance Street Capital. R. Lips Healthcare GmbH served as financial advisor to Medical Concepts Europe. 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.
About Medical Concepts Europe
Headquartered in the Netherlands, Medical Concepts Europe is a leading provider of bi-polar, quad-polar and mono-polar temporary pacing wires as well as single-use patient extension cables for various cardiovascular procedures. MCE’s products are found in the leading cardiovascular hospitals throughout Europe, the Middle East, Asia and North America.
About A&E Medical Corporation
Founded in 1968 and headquartered in Farmingdale, New Jersey, A&E Medical is a leading designer and manufacturer of the DoubleWire high strength sternum closure system along with a wide variety of MYO/Wire™ temporary cardiac pacing wires and extension leads, MYO/Wire™ II stainless steel sutures, MYO/Punch surgical punches, electrosurgical instruments, and neurosurgical scalp clips.
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.