Spectra Medical Devices, a portfolio company of private equity firm QHP Capital, announced on September 30 that it entered into an agreement to acquire XL Precision Technologies.
XL Precision Technologies is a contract development and manufacturing organization (CDMO) specializing in the manufacture of precision micro-components, complex tubular components and sub-assemblies for the medical device industry. It is based in Stockton-on-Tees, England.
Spectra Medical Devices is one of the world’s leading manufacturers of made-to-spec procedural needles. Spectra is a CDMO to industry-leading, multi-national healthcare companies, global original equipment manufacturers and emerging technology companies. It is based in Wilmington, Massachusetts.
The acquisition brings together companies with complementary strengths, enhancing Spectra’s ability to serve industry-leading medical device original equipment manufacturers. Rubicon Partners Industries, who acquired XL-PT in 2008, were the sellers. White & Case served as legal advisor to Spectra. Piper Sandler served as financial advisor and Proskauer Rose served as legal advisor to Rubicon Partners Industries.
According to data captured in the LevinPro HC database, this acquisition represents the 23rd CDMO transaction of 2024. Between January 1, 2023, and September 30, 2023, there were 14 CDMO acquisitions reported.
