Washington, D.C.-based investment firm Arlington Capital Partners has acquired Morristown, Tenn.-based health care supplier Team Technologies Inc. from Santa Monica Calif.-based Clearlake Capital Group.
"Team Tech's workforce and leadership group will remain the same," a spokesperson for Arlington Capitol told Plastics News in an email. "Arlington looks forward to working with the existing management team on continuing to execute on the firm's mission and accelerate its growth."
Terms of the transaction were not disclosed.
Team Technologies operates 15 facilities in North America and offers manufacturing for Class I and II medical devices for end markets including diagnostics, drug delivery, infection control, oral care, patient monitoring and wound care.
"We are thrilled by Team Technologies' progress during our partnership," José E. Feliciano, co-founder and managing partner, and Arta Tabaee, partner and managing director, at Clearlake said in a Nov. 25 statement. "By leveraging Clearlake's O.P.S. capabilities in partnership with management, we were able to support the company through a period of significant organic growth during which we restructured Team's go-to-market strategies to target key health care verticals."
"We augmented these initiatives with a disciplined M&A strategy, highlighted by three highly strategic add-on acquisitions, that furthered Team's evolution into a scaled, health care-focused specialty manufacturing and supply chain solutions platform," the statement said.
"We are proud of the milestones we have achieved together with Clearlake," Marshall White, CEO at Team Technologies, said in a news release. "Their strategic support enabled us to enhance our operational capabilities, expand our product portfolio, and foster strategic partnerships with our customers. We are excited about the next chapter and the continued opportunities that lie ahead."
Team Technologies supplies non-discretionary, consumable health care products for end markets including diagnostics, drug delivery, infection control, oral care, patient monitoring, and wound care.