US-based private equity firm Vance Street Capital has acquired medical device OEM designer and contract manufacturer A&E Medical.
Terms of the deal have not been disclosed.
Based in Farmingdale of New Jersey, A&E Medical provides customers with single-use products used in cardiovascular procedures.
The company designs and manufactures high strength sternum closure system, as well as different temporary cardiac pacing wires and extension leads.
It also produces stainless steel sutures, surgical punches, electrosurgical instruments and neurosurgical scalp clips.
The company’s products are being manufactured at its facility in Farmingdale.
Vance Street Capital partner Brian Martin said: "A&E Medical is a strategic fit with Vance Street’s focus on investing in companies that provide engineered solutions, with deep customer relationships and a history of growth throughout economic cycles."
Vance Street Capital vice president John LeRosen said: "We look forward to building on the platform A&E Medical’s founders have created through both organic development and strategic acquisitions to further enhance the Company’s product portfolio to continue to better serve our customers."
Based in Los Angeles, Vance Street Capital invests in middle-market businesses, comprising of medical, aerospace, defense and industrial sectors.
Image:Vance Street Capital has acquired medical makerA&E Medical. Photo: courtesy of PinkBlue / FreeDigitalPhotos.net.