(PRESS RELEASE) LONDON, 13-Feb-2020 — /EuropaWire/ — Leading European private equity firm, Montagu Private Equity to acquire the OEM, sports and reconstructive surgery implants divisions of RTI Surgical Holdings.
RTI’s OEM business has a global customer base for biologic, metal and synthetic implants that it designs, develops, manufactures and distributes. Its implants are used in a variety of surgical procedures including orthopaedic, spine, sports medicine, general surgery and trauma.
In the 1990s, RTI Surgical Holdings was established as a small tissue bank at the University of Florida. Since its inception, it has expanded both organically and through acquisitions to become a leading surgical implants business that benefits long-term relationships with blue-chip customers. Headquartered in Florida, USA, the business has four manufacturing sites located across Germany and the USA.
“As a strong, resilient business that is well-positioned to capitalise on accelerated growth opportunities, RTI’s OEM business is an excellent fit for Montagu’s investment strategy. We look forward to working with Olivier and the team to support the business in this exciting next chapter of growth, maintaining its ethos of exceptional service and innovation” commented, Montagu Director, Guillaume Jabalot.
“We are thrilled about Montagu’s purchase of the OEM business. We have built a world-class design, development and manufacturing competency with demonstrated expertise across tissue, biologics and hardware with a tremendous team and a customer base of leading medical technology companies. We look forward to working with Montagu in driving the growth of the business and deepening the significant expertise and core competencies we have developed to serve more patients” explained President of RTI’s OEM business, Olivier Visa.
The transaction is targeted to close in the first half of 2020 following the approval from RTI Surgical Holdings’ shareholders, customary regulatory approvals and the satisfaction of customary closing conditions.
Montagu recently completed its acquisition of Jane’s Group from IHS Markit in December 2019. This agreement is the firm’s second carve-out transaction announcement in four months.
Montagu’s legal advisors for this transaction is Weil, Gotshal & Manges LLP.
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SOURCE: Montagu Private Equity