ILC Dover acquires medical device CDMO Flexan
NEWARK – ILC Dover has acquired Flexan, a contract design and manufacturing organization (CDMO) that builds components for medical device makers.
Neither of the privately owned companies involved in the deal disclosed the terms.
The deal, announced by the STAR Campus-based design and production company best known for its biopharmaceutical and aerospace products in July and closed this month, marks the second major acquisition for ILC Dover in less than two years. In September 2020, ILC Dover acquired Solo Containment, a specialist manufacturer of flexible film isolators based in the United Kingdom.
Flexan, headquartered near Chicago, is a full-service CDMO specializing in high-precision silicone, rubber, and thermoplastic components for the medical device industry. Founded in 1946, it serves many of the world’s top medical device companies.
The companies reported that by partnering they will “have the ability to leverage their respective expertise and capabilities to serve a broader client base situated in both medical device and biopharmaceutical end markets.”
“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,” said Andre Moura, managing director at New Mountain Capital, the private equity firm that bought ILC Dover in February 2020, in a statement. “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.”
Simpson Thacher & Bartlett LLP acted as legal counsel to New Mountain Capital and Kirkland & Ellis LLP acted as legal counsel to Flexan. BNP Paribas served as financial advisor to New Mountain Capital and Baird served as the financial advisor to Flexan.