Vesta, Inc. acquires SSP-SiMatrix to broaden manufacturing capabilities
Acquisition to Broaden the Manufacturing Capabilities of Vesta, Inc.
LAKE FOREST, IL, December 13, 2011 — RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today that its portfolio company, Vesta, Inc. (“Vesta”), a market leader in silicone and thermoplastic extrusion, molding and assembly for medical devices, has completed the acquisition of SSP-SiMatrix, Inc. (“SiMatrix”). SiMatrix is a leading medical device contract manufacturer specializing in tight-tolerance medical-grade silicone sheeting and dip molding services. The financial terms of the transaction and RoundTable’s investment were not disclosed.
“SiMatrix is a strategic and complementary acquisition for Vesta,” said Joseph F. Damico, a Founding Partner and Co-Chairman of RoundTable and Chairman of the Board of Vesta. “SiMatrix expands Vesta’s existing breadth of silicone manufacturing services which include medical molding, extruding and assembly, and complements the company’s expertise in high quality manufacturing and engineering support for medical device product development.”
“We are extremely excited to add the SiMatrix team to the Vesta family,” said Phil Estes, Chief Executive Officer of Vesta. “Their commitment to quality and innovation are in close alignment with ours, and our customers will benefit from the added services. We are also pleased to have the support of RoundTable to complete this acquisition and appreciate their continued commitment to invest in Vesta’s growth and future.”
As part of the transaction, RoundTable successfully facilitated an amendment to Vesta’s senior credit facility, which was led by GE Capital with The PrivateBank and Trust Company, PNC Bank, and Wintrust participating in the credit.
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable currently manages $1.9 billion in capital, including three equity funds totaling $1.5 billion and two subordinated debt funds totaling $400 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.
About Vesta, Inc.
Vesta is an ISO 13485 certified medical device contract manufacturer providing silicone molding, silicone extrusion, thermoplastic extrusion, tight tolerance silicone sheeting and medical device assembly services. Vesta is recognized for its expertise in medical device design assistance, material selection and compliance to quality standards for optimal medical product development. Molding capabilities include liquid injection, transfer insert molding, and dip molding of medical grade silicone. Vesta’s ExtruMed™ precision solutions utilize thermoplastics and silicone for a wide range of tight-tolerance extrusion applications, with special capabilities in heat shrink tubing, PEEK™ tubing and wound drains. Vesta capitalizes on 40 years of experience in helping the top global innovators launch their products with success.More information about Vesta can be found at www.vestainc.com.
272 E. Deerpath Road, Suite 350
Lake Forest, IL 60045
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Media Contact: Barb Melendez, 847/739-3200