Cadence, Inc., a portfolio company of Kohlberg & Company since April 2018, announced on January 3 its acquisition of Utitec, Inc. in the first Medical Devices transaction of 2023. Brown Gibbons Lang & Company served as the exclusive financial advisor in the transaction. Terms of the deal were not disclosed.
Utitec is a manufacturer specializing in miniature, deep drawn medical devices and commercial components. The company is headquartered in Watertown, Connecticut, with an additional medical facility located in Alajuela, Costa Rica.
Cadence is a contract manufacturing partner, providing initial product design and development through complete manufacturing. Cadence employs more than 700 people worldwide with its corporate headquarters in Staunton, Virginia, and additional locations in Connecticut, Pennsylvania, Rhode Island, Wisconsin and Costa Rica.
According to data captured from the LevinPro HC database, Chicago-based Brown Gibbons Lang & Company advised on seven transactions during 2022 across several healthcare sectors, including Physician Medical Groups, Labs and medical office buildings.
