An ILC Dover owner, New Mountain Capital affiliate, reached a definitive agreement to acquire Flexan, a medical device contract design, and manufacturing organization specializing in silicone, thermoplastic, and specialty rubber components and devices.
Products include materials used in surgical implants and catheters. Manufacturing sites are in the Chicago area, Salt Lake City, and China.
Flexan will be acquired by ILC Dover, a New Mountain Capital portfolio company. The transaction is expected to close this month, subject to customary closing conditions and regulatory approvals.
Headquartered in Lincolnshire, IL, Flexan is a full-service contract design and manufacturing organization specializing in high-precision silicone, rubber, and thermoplastic components for the medical device industry.
By partnering with ILC Dover, the combined company will have the ability to leverage their combined expertise and capabilities to serve a broader client base situated in both medical device and biopharmaceutical end markets, a release stated.
“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. “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.”
This is the second acquisition ILC Dover has completed since announcing a partnership with New Mountain Capital in early 2020. The acquisition will continue to grow ILC Dover’s life sciences solutions for its global customer base, including pharmaceutical and biopharmaceutical end markets.
New Mountain Capital currently manages private equity, public equity, and credit funds with over $33 billion in assets under management.
For more information on ILC Dover, visit www.ilcdover.com. ILC Dover is headquartered in Newark and has a production site in Frederica. The company is best known for its spacesuits but has expanded into equipment for the pharmaceutical industry.
