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M&A Deal Summary

Cortec Group Acquires Royce Medical

On July 1, 2003, private equity firm Cortec Group acquired medical products company Royce Medical

Acquisition Highlights
  • This is Cortec Group’s 2nd transaction in the Medical Products sector.
  • This is Cortec Group’s 11th transaction in the United States.
  • This is Cortec Group’s 1st transaction in California.
Investment Fate
  • Royce Medical was sold to a publicly-traded strategic buyer in 2005 for 216M USD.

M&A Deal Summary
Date 2003-07-01
Target Royce Medical
Sector Medical Products
Buyer(s) Cortec Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Royce Medical

Camarillo, California, United States
Royce Medical Company is a leading designer, manufacturer, and marketer of orthopedic products. Royce's products include braces and supports, synthetic casting and splinting, bone growth stimulation, diabetic-focused wound care and disposable medical products sold primarily to orthopedists, hospitals, podiatrists, and orthotic and prosthetic shops.

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Buyer(S) 1

Buyer

Cortec Group

New York, New York, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cortec Group is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with equity of $100-$500 million and EBITDA of $10 to $50 million. Cortec Group was formed in 1984 and is based in New York City.

DEAL STATS #
Overall 11 of 49
Sector (Medical Products) 2 of 7
Type (Buyout (LBO, MBO, MBI)) 9 of 20
State (California) 1 of 3
Country (United States) 11 of 48
Year (2003) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-02-01 Gaymar Industries

Orchard Park, New York, United States

Gaymar Industries is a leading designer and manufacturer of pressure ulcer management systems and temperature management systems for patients in acute care and alternate care settings. Gaymar's products include mattress overlays, mattress replacement systems, air and water based body temperature management systems, and blood/fluid warming systems.

Sell $145M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 The Cortland Companies

Cortland, New York, United States

The Cortland Companies, Inc. is a manufacturer of electro-mechanical cables, umbilicals, tethers, and high-performance synthetic ropes. Cortland's products are used in a wide variety of industries including oil and gas, government, heavy marine, medical, utility and oceanographic markets with customers located throughout the world.

Buy -
Mergr

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