N2 Biomedical
The Middle Branch Partners team advises N2 Biomedical during its merger with Precision Coating
Situation Review
N2 Biomedical was a portfolio company of Boston-based Ampersand Capital that provided coatings and surface treatments for orthopedic and cardiovascular devices. The company was privately held at the time of sale.
The owners of N2 saw that stronger growth could be achieved by merging with a larger entity with a larger product portfolio and engaged Middle Branch Partners to conduct a negotiated process.
The shareholders sought a partner that could better leverage the differentiated capabilities of N2 to drive.
The President of N2 desired to stay on in a leadership role with the acquiring entity.
Transaction Process
A Confidential Information Memorandum was prepared, with broad outreach to Private Equity, as well as strategic acquirers.
A number of offers were received followed by management meetings at the company leading to a fully negotiated LOI.
The Shareholder closed a deal with the buyer that offered the best plan to to drive growth.
“We are very excited to add N2’s technologies and people to Precision Coating. N2 extends our coating platform technologies in ways that enhance our value proposition for customers. This is particularly true in orthopedics, where we can now offer engineered coating solutions across both instruments and implants.”
Results
N2 Biomedical was merged into Precision Coating.
The President will remain in place under a negotiated employment agreement.
Deal negotiation provided the optimal outcome for the sellers and the employees of the company.
