Linden Capital Partners acquires MIM implant specialist Avalign Technologies
January 3, 2019
Private equity firm Arlington Capital Partners, Washington, DC, USA, has announced the sale of Avalign Technologies, Bannockburn, Illinois, USA, to Linden Capital Partners, based in Chicago, Illinois. Avalign is a provider of proprietary coatings and full-service precision manufacturing solutions, including Metal Injection Moulding, to the orthopaedic medical device and speciality surgical markets. The company is said to offer its partners a broad portfolio of manufacturing solutions and extensive engineering design, development, and project management capabilities.
The company states that its MIM operation is capable of producing relatively large titanium parts with low oxygen levels to meet advanced medical standards. In addition to conventional MIM components, Avalign can produce larger parts including knee femorals, hip stems, shoulder stems, elbow ulnar stems and elbow radial stems.
Matt Altman, a Managing Partner at Arlington Capital commented, “Our successful partnership with Avalign’s founding management team enabled the company to expand its proprietary technology offering, capitalise on strong macro trends in the orthopaedic market and serve as a leading consolidator in the fragmented outsourced medical device manufacturing market.”
“The Avalign transaction represents another example of Arlington’s thematic approach to investing in the pharmaceutical and medical device industries. We have very much enjoyed the opportunity to partner with the Avalign management team and look forward to watching Avalign’s continued success in the future.”
Forrest Whittaker, Avalign CEO, stated, “Our partnership with Arlington has been a great success for the company and the management team. Arlington Capital’s deep expertise and impressive track record in healthcare and precision manufacturing provided an ideal partnership to help us achieve our goals. Arlington invested significant capital to support our organic growth and to complete several valuable acquisitions which were instrumental to Avalign’s growth.”
Malcolm Little, a Principal at Arlington Capital, added, “Since our initial investment, Avalign has nearly doubled in size as strong organic growth has been bolstered by several strategic acquisitions. We are proud to have supported the company through this transformation, adding capacity and bringing new technologies into Avalign’s portfolio in partnership with the outstanding Avalign management team.”
