New Mountain Capital to acquire medical parts molder Flexan
The purchase was made through ILC Dover, one of New Mountain's portfolio companies.
Medical device maker Flexan has been acquired by ILC Dover, a portfolio company of investment firm New Mountain Capital LLC.
The financial terms of the deal have not been disclosed.
Founded in 1946 and headquartered in Lincolnshire, Ill., Flexan specializes in molding high-precision silicone, rubber, and thermoplastic components.
In a statement, officials with New York City-based New Mountain said the combination of ILC and Flexan “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, New Mountain’s managing director. “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.”
The transaction is expected to close this month.