Precision Engineered Products LLC, which is owned by The Jordan Company and Nautic Partners, has closed its buy of Trigon International. No financial terms were disclosed. Trigon is a maker of orthopedic products.
NEW YORK, May 7, 2015 – Precision Engineered Products LLC (“PEP”), a leading manufacturer of medical devices and components, has completed the acquisition of Trigon International. PEP is currently owned by The Jordan Company and Nautic Partners.
Trigon International specializes in design, engineering, manufacturing and assembly services for orthopedic products. The acquisition further increases Precision Engineered Products’ share of the orthopedic market as Trigon International serves end applications ranging from trauma, knee, hip, extremities and other instruments. The company, which will be renamed PEP Trigon, will operate as a wholly-owned subsidiary of Precision Engineered Products with its current management team and from its existing Aurora, Illinois and Warsaw, Indiana facilities. Following the transaction, over 40% of PEP’s sales will come from the medical end market.
“The combination of Trigon International with our capabilities in orthopedic surgical device design, prototyping, package design, and validation services will provide customers with a full suite of services for orthopedic products,” said John Manzi, President and CEO of Precision Engineered Products. “Trigon International enhances our ability to meet the stringent regulatory requirements for the orthopedic market, and its position in the marketplace will drive continued customer growth with orthopedic and medical original equipment manufacturers.”
“We, at Trigon, are truly excited about this new partnership with Precision Engineered Products which will enable us to offer more capabilities to our existing customer base including sterile barrier packaging, precision stamping and plastic molding,” said Joe Fenoglio, President & CEO of Trigon International. “In this ever changing industry, it is critical that we be able to quickly respond to the customer with a full range of precision engineered solutions. With this new partnership, our ability to respond to that need will be second to none.”
About Precision Engineered Products and Trigon International:
Precision Engineered Products works synergistically to offer optimum value to customers. By using “best practice” manufacturing, PEP provides excellent service and world-class value-in-use to a demanding marketplace. PEP works hand-in-hand with leaders in the medical industry to bring innovation and worldclass quality to the design and execution of medical disposables and assemblies and surgical devices.
Trigon International is an FDA-registered and ISO-13485:2003 certified orthopedic product manufacturer.
Trigon International offers development services, design services and an array of contract manufacturing capabilities from advanced machining and precision assembly to additive manufacturing.
About The Jordan Company
The Jordan Company, founded in 1982, is a middle-market private equity firm with over $5 billion of committed capital under management and a 30-year track record of investing in and contributing to the growth of many businesses across a wide range of industries. The managing principals have been investing together for over 20 years. Headquartered in New York, The Jordan Company also has offices in Chicago and Shanghai. For additional information, please refer to The Jordan Company website:
About Nautic Partners
Founded in 1986, Nautic is a middle-market private equity firm that has managed over $3 billion of assets throughout its history. The firm has completed 120 transactions in partnership with management. Nautic targets equity investments of $25-$75 million, representing majority ownership in niche businesses with strong market share and growth potential, identified value enhancement opportunities and strong management teams. Areas of focus include business services, manufacturing and healthcare. For more information, please visit: www.nautic.com.