Flexan offers high-precision silicone, rubber, and thermoplastic components for the medical device industry
ILC Dover has agreed to acquire medical device CDMO Flexan. (Credit: Pete Linforth from Pixabay)
ILC Dover, an affiliate of New Mountain Capital, has agreed to acquire medical device contract design and manufacturing organisation (CDMO) Flexan for an undisclosed sum.
Established in 1946, Flexan is based in Lincolnshire of Illinois, US. It provides contract design and manufacturing services with expertise in high-precision silicone, rubber, and thermoplastic components for the medical device industry.
The combined company is said to leverage the expertise and capabilities to serve a range of client base situated in both medical device and biopharmaceutical end markets.
New Mountain Capital managing director Andre Moura said: “Flexan’s expertise in silicone molding and thermoplastic extrusion enables the company to deliver mission-critical components and devices to medical device manufacturers and ultimately improve patient care.
“We look forward to working closely with the management teams at Flexan and ILC Dover to drive the next chapter of growth and innovation across life sciences markets.”
Flexan is the second acquisition for ILC Dover since its establishment of a partnership with New Mountain Capital in early 2020.
The acquisition will allow ILC Dover to expand its life sciences solutions for its global customer base, including for the pharmaceutical and biopharmaceutical end markets.
Subject to customary closing conditions and regulatory approvals, the deal is expected to be completed by August this year.
Simpson Thacher & Bartlett served as legal counsel to New Mountain Capital, while Kirkland & Ellis LLP acted as legal counsel to Flexan.
BNP Paribas acted as financial advisor to New Mountain Capital and Baird served as the financial advisor to Flexan.