Acquisition further enhances A&E Medical’s temporary pacing wire and cable portfolio and expands A&E’s geographic footprint into Europe
Los Angeles – December 14, 2016 – Vance Street Capital LLC, a Los Angeles-based private equity firm, and A&E Medical Corporation (“A&E Medical”), a leading cardiovascular medical device OEM, announced the acquisition of Medical Concepts Europe (“MCE”). MCE is the first add-on acquisition for A&E Medical, which was acquired by Vance Street Capital LLC in February 2016. Terms of the transaction were not disclosed.
Headquartered in the Netherlands, MCE is a leading provider of bi-polar, quad-polar and mono-polar temporary pacing wires and single-use patient extension cables specifically for cardio-thoracic surgeries. MCE’s products are found in the leading cardiovascular hospitals throughout Europe, the Middle East, Asia and North America.
“MCE is a strong strategic fit with A&E Medical and will enable the combined businesses to provide an even broader portfolio of single-use medical products to the world’s leading cardiovascular hospitals” said Brian Martin, Partner at Vance Street Capital.
“The addition of MCE not only furthers A&E Medical’s position as a leader in the temporary pacing and connecting cable space, but also provides A&E Medical with a strategic footprint in continental Europe” said Mike Janish, Partner at Vance Street Capital.
“We are excited to partner with the MCE management team to build on the world-class platform they have created to better serve the combined company’s customers,” said Eric Sklar, President of A&E Medical. “We believe our customers will benefit from the addition of MCE’s bi-polar and quad-polar pacing wires and are excited about the opportunity to provide MCE’s customers with A&E Medical’s industry leading DoubleWire sternum closure systems.”
Paul Hastings LLP acted as legal advisor to Vance Street Capital. R. Lips Healthcare GmbH served as financial advisor to Medical Concepts Europe. Vance Street partnered with Lexington Partners, Neuberger Berman Private Equity funds, RCP Advisors and Madison Capital Funding LLC, all of whom co-invested equity alongside Vance Street in support of the transaction.