Lincolnshire, Illinois – ILC Dover, part of New York-based investment firm New Mountain Capital, is acquiring US-based medical device manufacturer Flexan, it was announced 27 July.
The transaction, the terms and conditions of which were not disclosed, is expected to close by August subject to customary closing conditions and regulatory approvals.
Based in Lincolnshire, Flexan specialises in the design and manufacture of high-precision silicone, thermoplastic, and speciality rubber components and devices.
The company operates four production centres, three in the US and one in Suzhou, China.
The acquisition is expected to help Flexan expand its client base in both medical device and biopharmaceutical end markets.
"Flexan's expertise in silicone moulding and thermoplastic extrusion enables the company to deliver mission-critical components and devices to medical device manufacturers,” said Andre Moura, managing director at New Mountain Capital.
"We look forward to working closely with the management teams at Flexan and ILC Dover to drive the next chapter of growth and innovation across life sciences markets," he added.