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Southeastern Technology’s Sale to Autocam Medical

Transaction Details

Client: Southeastern Technology (SET) is a Murfreesboro, Tennessee-based contract manufacturer of close tolerance medical devices (implants and instruments) and patient specific components for a wide range of medical customers
Ownership: U.S. and Swiss shareholders
Buyer: Autocam Medical Devices, LLC is a contract manufacturer of high-performance parts for demanding medical applications, including implants, instruments, handpieces, and components
Transaction: Autocam acquired 100% of the stock of SET
Consideration: All cash

Situation Review

  • KGI was engaged by SET to conduct a negotiated sale process.
  • Shareholders were motivated to sell by the length of their investment, ongoing lack of liquidity, strong operating results of the Company, and strong investment market factors favoring a transaction at this time.

Transaction Process

  • KGI prepared a Confidential Information Memorandum and contacted ~200 prospective buyers.
  • Five offers were submitted and management meetings were conducted with select prospects.
  • The Shareholders closed a deal with the buyer who offered the best combination of economic, cultural and strategic fits.

Outcome

  • Intense negotiations resulted in an excellent outcome for the Client.
  • SET will operate under Autocam as the Southeastern Technology divisi