Baird Capital Portfolio Company MedPlast Acquires Orthoplastics
TEMPE, Ariz., Oct. 14, 2013
Baird Capital, the direct private investment arm of Robert W. Baird & Co., announced today that its U.S. private equity portfolio company MedPlast, Inc. (MedPlast), has acquired U.K.-based Orthoplastics, Ltd. (Orthoplastics), a leading manufacturer of ultra-high-molecular-weight-polyethylene (UHMWPE) for the global orthopedic implant market. JZ Capital Partners Ltd. and River Cities Capital Funds are co-investors in the deal. The financial terms of the deal were not disclosed.
Based in Tempe, Ariz., MedPlast is a leading provider of highly engineered custom plastic processing solutions serving the global healthcare market. Through this acquisition, MedPlast will expand its ability to serve the orthopedic device OEMs, while significantly growing its customer base and global strategic footprint.
“Implantable medical devices occupy a highly complex and regulated market space with high barriers to entry,” said MedPlast CEO Harold Faig. “The acquisition of Orthoplastics gives us a leading position in that market while enhancing our global capabilities.”
“This transaction strategically positions MedPlast for future growth,” said Andrew Brickman, Partner in Baird Capital’s U.S. Private Equity group. “With continued improvements in global healthcare, MedPlast’s robust product line addresses a need for effective orthopedic solutions for an increasingly aging population.”
About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Since 1989, Baird Capital’s U.S. Private Equity group has invested in growing and profitable lower-middle-market companies in the Business Services, Healthcare, and Industrial and Consumer Products sectors. Having invested in more than 270 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in Asia, a proactive portfolio operations team and a deep network of relationships which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit BairdCapital.com