M&A Deal Summary

Integer Holdings Acquires Globe Tool and Manufacturing

On July 21, 2002, Integer Holdings Corp. acquired healthcare services company Globe Tool and Manufacturing, Inc. from Cordova, Smart & Williams LLC and Charter Oak Equity for 48M USD

Acquisition Highlights
  • This is Integer Holdings’ 1st transaction in the Healthcare Services sector.
  • This is Integer Holdings’ 4th largest (disclosed) transaction.
  • This is Integer Holdings’ 1st transaction in the United States.
  • This is Integer Holdings’ 1st transaction in Minnesota.

M&A Deal Summary

Date 2002-07-21
Target Globe Tool and Manufacturing, Inc.
Sector Healthcare Services
Buyer(s) Integer Holdings Corp.
Sellers(s) Cordova, Smart & Williams LLC
Charter Oak Equity
Deal Type Add-on Acquisition
Deal Value 48M USD

Target

Globe Tool and Manufacturing, Inc.

Minneapolis, Minnesota, United States
Globe Tool and Manufacturing, Inc. is a supplier of deep-drawn titanium parts, such as pacemaker and defibrillator casings, for medical implant companies.

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Buyer(S) 1

Buyer

Integer Holdings Corp.

Plano, Texas, United States

website


Category Company
Founded 1970
SectorMedical Products
Employees7,500
Revenue 1.1B USD (2020)
DESCRIPTION

Integer is one of the largest medical device outsource (MDO) manufacturers in the world serving the cardiac, neuromodulation, orthopedics, vascular, advanced surgical and power solutions markets. Integer offers a breadth and depth of design, development and manufacturing capabilities unmatched by anyone. Our keen focus on quality meets the strictest standards. With approximately 10,000 associates, including 600 engineers, and 26 manufacturing facilities in seven countries, we are proud of the role we play in enabling our customers to deliver innovative medical technologies that enhance people’s lives. Integer was founded in 1970 and is based in Plano, Texas.


DEAL STATS #
Overall 1 of 10
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 1 of 10
State (Minnesota) 1 of 4
Country (United States) 1 of 8
Year (2002) 1 of 1
Size (of disclosed) 4 of 7
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-16 NanoGram Devices Corporation

Fremont, California, United States

NDC is a materials research and development company focused on developing nanoscale materials for use in various battery and medical device applications.

Buy $45M

Seller(S) 2

SELLER

Cordova, Smart & Williams LLC

New York, New York, United States

website


Category Private Equity Firm
Founded 2002
SizeSmall
Type Sector Agnostic
DESCRIPTION

Cordova, Smart & Williams (CSW) is a private equity investment firm specializing in buyouts, recapitalizations, and growth capital financings of middle-market companies. CSW targets private companies as well as divestitures from larger public companies with revenues between $25 and $150 million. CSW looks to invest between $8 to $20 million per transaction. Sectors of interest include consumer products and services, retail, manufacturing, distribution, industrial products, and business services. Prospective companies are generally profitable with high barriers to entry and strong brand equity. CSW was formed in 2002 and is based in New York City.


DEAL STATS #
Overall 4 of 13
Sector (Healthcare Services) 1 of 2
Type (Add-on Acquisition) 1 of 5
State (Minnesota) 1 of 2
Country (United States) 4 of 13
Year (2002) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-01 ITM LLC

Grand Rapids, Michigan, United States

ITM is a close tolerance die casting and machining company. The business was one of the most highly automated die casters in the industry with an underground aluminum dispensing system and robotic arm controls for removing completed parts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 Orchid Stealth Orthopedic Solutions

Holt, Michigan, United States

Stealth Medical is one of the premier designers and manufacturers of implants, instruments and innovative technologies for the orthopedic, dental and cardiovascular markets in the world.

Sell -
SELLER

Charter Oak Equity

Westport, Connecticut, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1992
PE ASSETS 500M USD
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

Charter Oak Equity LP is a private equity group focused on control investments in lower middle-market companies valued between $25 and $150 million. The Firm looks for businesses operating large markets with significant room for growth. Target sectors include Packaging, Medical Devices, and Engineering, Metal Processing, Value Added Distribution, Business Services, Chemicals, Niche Industrial, Pharmaceutical-Related, and Specialty Financial Services. Charter Oak generally targets family-owned companies or non-core divisions of larger companies. Charter Oak Private Equity was formed in 1992 and is based in Westport, Connecticut.


DEAL STATS #
Overall 8 of 25
Sector (Healthcare Services) 1 of 2
Type (Add-on Acquisition) 1 of 7
State (Minnesota) 1 of 2
Country (United States) 8 of 25
Year (2002) 3 of 3
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-01 GEO Specialty Chemicals, Inc.

Ambler, Pennsylvania, United States

GEO Specialty Chemicals, Inc. is a specialty chemical manufacturer for the water treatment, construction, electronic materials industries. GEO Specialty Chemicals, Inc. was founded in 1993 and is based in Ambler, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Sinteris, Inc.

Blenheim, Ontario, Canada

Sinteris, Inc. is a manufacturer of custom-engineered powdered metal parts for the automotive industry.

Buy -