Arlington Capital Partners, a private equity firm based in Washington, D.C., announced on November 25 that it entered into an agreement to acquire TEAM Technologies.
TEAM Technologies is a design and manufacturing partner to many of the world’s leading brands in the dental, medical and cosmetic industries. TEAM Tech is a leading provider of specialized manufacturing and strategic supply chain solutions to blue-chip healthcare customers. It was sold by Clearlake Capital Group, L.P., a private equity group based in Santa Monica, California. Before Clearlake purchased the company in 2018, TEAM was owned by The Riverside Company, a private equity firm based in New York City.
Arlington Capital Partners has managed approximately $7 billion in capital commitments. Arlington is focused on middle-market investment opportunities in growth industries, including healthcare, government services and technology, aerospace and defense and business services and software.
Harris Williams served as financial advisor and Goodwin Procter LLP served as legal advisor to Arlington Capital Partners. Robert W. Baird & Co. acted as financial advisor to TEAM Tech. Kirkland & Ellis LLP and Massumi + Consoli provided legal counsel to TEAM Tech and Clearlake. The financial terms were not disclosed.
“The medical device manufacturing industry is incredibly complex, but we feel fortunate to partner with Arlington in our next chapter,” said Marshall White, CEO of TEAM Tech. “I have gotten to know Matt and the Arlington team well over the past several years and believe that with their 25 years of experience in this highly regulated sector they are best positioned to help us build on the successes we have achieved and accelerate our growth, both organically and through strategic acquisitions, to take our business to the next level.”
According to LevinPro HC data, this transaction represents the 27th contract development manufacturing organization (CDMO) acquisition of the year. In 2023, there were 21 CDMO transactions announced.
