Southeastern Technology’s Sale to Autocam Medical
|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|
“Just wanted to take a minute to let you know how much we appreciated the help with the sale of our Medtech contract manufacturing company. Principals of Kinsella Group [in their capacity as registered investment banking agents of Burch & Company, Inc.] estimated the time to close from the initiation of the engagement to be 9 to 12 months and the deal closed in exactly 9 months. Your Group’s appropriately aggressive leadership ensured that all parties were focused and committed to closing the transaction. I would recommend Kinsella Group to any prospective seller in the Medtech space.”
- Tom Eisenman, CEO, Southeastern Technologies
- 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.
- 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.
- Intense negotiations resulted in an excellent outcome for the Client.
- SET will operate under Autocam as the Southeastern Technology division