Piper Jaffray, Hogan Lovells advise Vention Medical on 2-part acquisition.

M2 EQUITYBITES-February 27, 2017-Piper Jaffray, Hogan Lovells advise Vention Medical on 2-part acquisition

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Vention Medical, a KRG Capital Partners Fund IV (KRG) portfolio company and integrated services provider for complex medical devices and components, has entered into merger agreements with separate buyers to sell the business in a two-step transaction, the company said.

Piper Jaffray served as financial advisor and Hogan Lovells served as legal advisor to Vention on the transaction.

The Advanced Technologies segment will be acquired by Nordson Corporation, the leader in precision dispensing, fluid management, and related technologies and the Device Manufacturing Services segment will be acquired by MedPlast, Inc, a global services provider to the medical device industry.

KRG expects the closing will occur in the second quarter of 2017.

KRG made its initial investment in Vention Medical in May of 2008, and this sale will represent the 10th full exit in KRG's USD 1.96bn fund IV.

Vention Medical is a global integrated solutions partner with more than 30 years of experience in design, engineering and manufacturing of complex medical devices and components. Itl specializes in components and services used in interventional and minimally invasive surgical products including catheters, reinforced shafts, balloons, extrusions, polyimide tubing, heat shrink tubing, PTFE liner tubing, molded components, and finished device assembly and packaging.

Founded in 1996, KRG is a Denver-based private equity buyout firm focused on "buy and build" investment opportunities in the lower middle market. KRG has approximately USD 4.4bn of cumulative capital either deployed or available for future investment, which includes approximately USD 1.2bn deployed since inception by institutional equity co-investors.

Nordson Corporation engineers, manufactures and markets differentiated products used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids; to test and inspect for quality; and to treat and cure surfaces.

MedPlast is a global services provider to the medical device industry. The company offers a range of engineering and manufacturing capabilities that support the world's leading original equipment manufacturers with producing diagnostic, orthopedic, surgical and other medical products. Headquartered in Tempe, Ariz., the company operates 11 ISO-certified facilities around the world.

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