A leading provider of proprietary coatings and full-service precision manufacturing solutions to the orthopedic medical device and specialty surgical markets, Avalign Technologies, has been sold to Linden Capital Partners, according to its current owner Arlington Capital Partners.
Avalign, based in Bannockburn, Illinois, offers its OEM partners a broad portfolio of manufacturing solutions and extensive engineering design, development, and project management capabilities from concept to launch.
Matt Altman, a Managing Partner at Arlington Capital said, “Our successful partnership with Avalign’s founding management team enabled the Company to expand its proprietary technology offering, capitalize on strong macro trends in the orthopedic market and serve as a leading consolidator in the fragmented outsourced medical device manufacturing market.”
“The Avalign transaction represents another example of Arlington’s thematic approach to investing in the pharmaceutical and medical device industries. We have very much enjoyed the opportunity to partner with the Avalign management team and look forward to watching Avalign’s continued success in the future,” he said.
Forrest Whittaker, CEO of Avalign, stated, “Our partnership with Arlington has been a great success for the Company and the management team. Arlington Capital’s deep expertise and impressive track record in healthcare and precision manufacturing provided an ideal partnership to help us achieve our goals. Arlington invested significant capital to support our organic growth and to complete several valuable acquisitions which were instrumental to Avalign’s growth.”
Malcolm Little, a Principal at Arlington Capital said, “Since our initial investment, Avalign has nearly doubled in size as strong organic growth has been bolstered by several strategic acquisitions. We are proud to have supported the Company through this transformation, adding capacity and bringing new technologies into Avalign’s portfolio in partnership with the outstanding Avalign management team.”