Acrotec Group, an independent contract manufacturer based in Develier, Switzerland, has expanded to the United States with its acquisition of Warminster, Pennsylvania-based Axial Medical.
Axial Medical is a family-owned business that manufactures high-precision components for the medical industry. According to the press release, its 40,000 square foot manufacturing facility focuses on “the high-volume production of orthopedic implants for spine, trauma, and extremity treatments.” Axial Medical is also “an approved supplier for a wide range of Medtech OEMs [original equipment manufacturer] globally.”
Middle Branch Partners acted as a general advisor to Acrotec Group regarding the deal. According to Middle Branch Partners, “Our team confirmed that an acquisition of Axial Medical would fit with Acrotec’s M&A strategy. This included an ongoing leadership role for key ownership and management.”
Acrotec Group is a portfolio company of The Carlyle Group. Its broad range of products and services includes medical implants and instruments for implantable devices and custom spindles and probes for the medical markets.
The Carlyle Group acquired Acrotec Group in 2021. The Carlyle Group’s acquisition was designed to assist Acrotec Group in its growth and development, including acquisitions to expand the company’s business into new areas and locations in Europe, Asia, and North America.
In the press release, Acrotec Group CEO François Billig commented, “When Carlyle invested in Acrotec we knew we had an ambitious investor and partner who would support our growth objectives, which included the expansion of our business into the large and growing Medtech sector. Axial provides the perfect entry point for Acrotec in the U.S.-market, and we are delighted that such a high quality and complementary business is joining our family.”
Billig continued, “This deal will significantly strengthen our Medtech division and open up new opportunities for further bolt-on M&A in the U.S.”
The companies did not disclose the financial details of the transaction.
