US-based healthcare specialty manufacturer TEAM Technologies has acquired medical specialty manufacturer Baril for an undisclosed sum.
Baril is said to be the premier end-to-end contract manufacturer of disposable single-use medical products in infection protection, wound care, clinical chemistry, patient monitoring, and medical and surgical disposables.
Baril CEO and owner Dan Baril said: “We have been successful in driving growth by offering deep knowledge and process expertise in flexible materials and adhesives to our healthcare customers.
“By combining with TEAM, we enter our next phase of growth with expanded product capabilities and greater customer reach.”
TEAM offers various services ranging from product design and development to finished device manufacturing, assembly and packaging to the healthcare product companies.
The acquisition of Baril will help TEAM to advance its die-cutting, laminating and device assembly solutions, as well as expand its healthcare customers.
The union helps to enhance both organisations’ capabilities within healthcare end markets
In addition, the combination brings together complementary manufacturing processes and enhances both organisations’ capabilities within healthcare end markets.
TEAM Technologies president and CEO Marshall White said: “Not only does Baril offer highly complementary products and solutions for our infection prevention and control efforts, but Baril also facilitates our expansion into other attractive medical end markets, including wound care and wearable sensors utilizing Baril’s expertise in skin-contacting technologies.”
Covington Associates served as the exclusive financial advisor to Baril and selling shareholders. A fully committed facility to finance the deal was offered by credit funds managed by affiliates of Ares Management Corporation in collaboration with existing co-lender Northwest Mutual Capital.
Based in Morristown of Tennessee, TEAM Technologies serves global healthcare products companies with a focus on oral and dental care and medical end markets.
The company, which was acquired by Clearlake Capital in 2018, operates 13 facilities across the US.
Recently, One Equity Partners and The Silverfern Group have acquired wound-care company American Medical Technologies (AMT) for an undisclosed sum.
