Baird Capital portfolio company MedPlast has snapped up UK-based Orthoplastics for an undisclosed amount.
Lancashire-headquartered Orthoplastics is now under US ownership following an acquisition by MedPlast.
Arizona business MedPlast, a portfolio company of Robert W. Baird & Co direct investment arm Baird Capital and customer plastic processing services manufacturer for the healthcare market, has made the deal so that it can grow its customer base and geographic footprint.
Orthoplastics is a manufacturer of ultra-high-molecular-weight-polyethylene for the orthopaedic implant market. MedPlant will be using the British business to expand its ability to serve the orthopaedic device original equipment manufacturers.
MedPlast CEO Harold Faig comments, ‘Implantable medical devices occupy a highly complex and regulated market place with high barriers to entry.
‘The acquisition of Orthoplastics gives us a leading position in that market while enhancing our global capabilities.’
According to a statement, JZ Capital Partners and River Cities Capital Funds acted as co-investors in the acquisition.
David Brooks, managing director at Orthoplastics, adds, ‘This acquisition allows MedPlast to combine its technical capabilities with Orthoplastics’ implantable technologies to become a significant player in the implantable market.’