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Cadence to be Acquired by Investment Firm Kohlberg & Company

Cadence, a single-source contract manufacturer, signed a definitive agreement to be acquired by private equity firm Kohlberg & Company. Financial terms were not disclosed.

It is expected that the acquisition will boost the expansion of Cadence’s manufacturing capabilities. The company provides design through manufacturing and full supply chain management for single use and disposable medical devices. Its global customer base includes orthopaedic, endoscopy, laparoscopy, robotics, life science and specialty industrial end-markets.

Alan Connor, Cadence President & CEO, will continue to lead the company and its management team will remain in place. Headquartered in Staunton, Virginia, Cadence has four U.S. facilities with nearly 500 employees.

Kohlberg & Company has organized eight private equity funds, through which it has raised $7.5 billion of committed equity capital. Over its 31-year history, Kohlberg has completed 72 platform investments and approximately 170 add-on acquisitions, with an aggregate transaction value in excess of $15 billion.

Kohlberg’s investments include Amendia, a spinal solutions provider that rebranded as Spinal Elements in 2017, as well as suppliers Spectrum Plastics and Phillips-Medisize.

Source: Cadence