CALEDONIA, MI, April 5, 2022 — Aspen Surgical Products (“Aspen”), a portfolio company of Audax Private Equity (“Audax”), announced today that Audax has closed on a single-asset continuation fund to support additional investment in Aspen and reaffirming its commitment to supporting the company’s long-term growth strategy.
Since Audax’s original investment in 2019, Aspen has tripled the scale of the company by acquiring five complementary businesses, further developing and diversifying its sales channel, and accelerating innovative product line extensions. This new investment will allow Audax to continue to support the Aspen executive leadership team as it pursues imminent organic growth and larger-scale acquisition opportunities in order to expand globally as a leading provider of single-use surgical products to the acute care and surgical settings.
“A little over two years ago we embarked on a journey to dramatically enhance our value with our hospital customers and channel partners,” said Jason Krieser, CEO of Aspen. “I couldn’t be happier with our success to date. This transaction represents an excellent return for our original investors, while empowering our Aspen Surgical organization to continue to progress in our mission of improving safety and efficiency for clinicians at an even faster rate.”
About Aspen Surgical Products
Established in 1999, Aspen is a leading manufacturer of surgical disposables focused on improving patient and healthcare provider safety and efficiency in the hospital and surgery center environment. The company’s extensive portfolio includes Bard-Parker® blades and scalpels, Stork® labor and delivery products, Precept® personal protective equipment, Protek® probe covers and needle guides, surgical marking pens, orthopedic positioners, basic wound care, and instrument care products. Aspen facilities in Caledonia, Michigan; Las Piedras, Puerto Rico; and Agua Prieta, Mexico offer vertically integrated, North American manufacturing capabilities including injection molding, sewing, ultrasonic welding, die cutting, automated assembly, and packaging as well as blade stamping, grinding, and finishing. Aspen Surgical products are sold through a strong, integrated channel which includes a corporate accounts team working synergistically with a field sales organization, along with a close distributor and kit-packer network. Backed by Audax Private Equity, Aspen is poised for both organic growth and growth through acquisition. For more information please visit: www.aspensurgical.com or follow us on LinkedIn.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $30 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $9 billion in 150 platforms and over 1,050 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax Private Equity seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 300 employees, Audax is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity website: www.audaxprivateequity.com or follow us on LinkedIn.
For more information, please contact:
Mary Hannon, Vice President of Marketing and Communications