Montagu Private Equity (“Montagu”), a leading European private equity firm, announces that it has agreed to acquire the OEM, sports and reconstructive surgery implants divisions of RTI Surgical Holdings (the “OEM business”).
RTI’s OEM business designs, develops, manufactures and distributes biologic, metal and synthetic implants for a global customer base. Its implants are used in a variety of surgical procedures including orthopaedic, spine, sports medicine, general surgery and trauma.
RTI Surgical Holdings was established in the 1990s as a small tissue bank at the University of Florida. Since then, it has grown both organically and through acquisitions to become a leading surgical implants business that enjoys long-term relationships with blue-chip customers. Headquartered in Florida, US, the business has four manufacturing sites located across Germany and the US.
Guillaume Jabalot, Director at Montagu, said: “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”.
Olivier Visa, President of RTI’s OEM business, said: “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”.
The transaction is subject to approval from RTI Surgical Holdings’ shareholders, customary regulatory approvals and the satisfaction of customary closing conditions and is targeted to close in the first half of 2020.
This is Montagu’s second carve-out transaction announcement in four months. The firm recently completed its acquisition of Jane’s Group from IHS Markit in December 2019.
Weil, Gotshal & Manges LLP acted as legal advisors to Montagu.