CHICAGO – Dec. 6, 2016 – Baird Capital, the direct private investment arm of Robert W. Baird & Co. (Baird), today announced the sale of MedPlast, Inc. ("MedPlast") to Water Street Healthcare Partners and JLL Partners. The financial terms of the deal were not disclosed.
Based in Tempe, Ariz., MedPlast is a leading global services providers to the medical device industry. As part of a proactive investment thesis, Baird and CEO Harold Faig formed MedPlast in 2008 by combining ATP Engineered Rubber & Plastics Group and K&W Medical Specialties, Inc. River Cities Capital Funds co-invested in this platform along with Baird Capital.
MedPlast acquired United Plastics Group in February 2012 and U.K.-based Orthoplastics in September 2013, at which time JZ Capital Partners Ltd. became a co-investor in the company. These acquisitions broadened MedPlast's size and global reach to eleven manufacturing facilities across the U.S., U.K., China and Mexico. They also enabled MedPlast to serve as a one-stop solutions provider of custom plastic processing solutions and value-added services that support the world's leading original equipment manufacturers (OEMs) with producing diagnostic, orthopedic, surgical and other medical products.
"We backed a strong team and they built a truly global platform with functional expertise to serve all aspects of the healthcare market," said Andrew Brickman, Partner, Baird Capital. "Harold Faig has a fantastic track record in the manufacturing industry and we feel fortunate to have teamed with him to grow this business."
About Baird Capital
Baird Capital makes private equity, growth equity and venture capital investments in strategically targeted sectors around the world. Having invested in more than 295 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 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 www.BairdCapital.com.
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