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Acrotec, contract manufacturer of high precision machined applications to medtech and other industries, has agreed to acquire Axial Medical. Financial details of the transaction were not disclosed.
Headquartered in Pennsylvania, United States, Axial Medical is a manufacturer of high-precision components for the medical industry. Founded in 2014, the family-owned company operates a custom-built 40,000-square-foot manufacturing facility in Warminster, Pennsylvania, with over 60 5-axis CNC machines. It is focused on the high-volume production of orthopedic implants for spine, trauma and extremities, and is an approved supplier for a wide range of medtech
OEMs globally.
In 2021, global investment firm Carlyle acquired Acrotec to support the company’s growth plan through the development of its existing platform and through acquisitions, including those intended to broaden Acrotec’s Medtech business with expansion into new services and geographies in Europe, Asia and North America.
“When Carlyle invested in Acrotec,” said François Billig, CEO of the Acrotec Group, “we knew we had an ambitious investor and partner who would support our growth objectives, which included the expansion of our business into the large and growing Medtech sector. Axial provides the perfect entry point for Acrotec in the U.S. market. This deal will significantly strengthen our Medtech division and open up new opportunities for further bolt-on M&A in the U.S.”
“We are pleased to be joining Acrotec,” said Vince Visco, CEO of Axial Medical. “In doing so, we believe we will be able to accelerate Axial’s ultimate goal of becoming an industry leading CMO. Importantly, in Acrotec we recognize a business which shares both our ambitions and values. This is a critical step for Axial, and we look forward to working with François and the Acrotec team on building our position as a leading manufacturer of medical components.”
Source: Axial Medical
