Graham’s Latest Exit is a Clean (Room) Sweep
November 23rd, 2021
Graham Partners, a private investment firm targeting technology-driven advanced manufacturing companies, is pleased to announce the sale of its portfolio company, Medbio LLC (“Medbio”). Headquartered in Grand Rapids, Michigan, Medbio is a manufacturer that specializes in clean room injection molding processes for medical device, life science, and biotechnology components. Medbio has differentiated itself as a one-stop shop for polymer solutions through its vertically-integrated engineering, design and development, tooling, micro molding, insert and overmoldings, silicone molding, and complex assembly operations.
Medbio was sourced through Graham Partners’ Investment Theme Program and was acquired on a proprietary basis in 2018. Graham’s investment thesis for Medbio was to capitalize on the multiple growth trends positively influencing the industry including conversions toward outsourcing, disposables, plastics and to micro-molded components, while also leveraging Graham’s experience in the sector to accelerate the trajectory of the business.
Graham actively partnered with Medbio during its ownership to transform the company into a premier medical device manufacturing platform. During Graham’s ownership, Medbio:
- Completed two sizable add-on acquisitions and executed multiple facility expansions, moving from a two facility operation in 2018 to offering eight best-in-class facilities
- Invested in highly talented management team members to continue to professionalize the business, while building a greater network to support a growing customer base
- Secured new business wins with blue-chip customers and expanded business with existing customers offering customers more highly engineered solutions
- Enhanced operations investing heavily in automation, including over 50 collaborative robots and vision systems
Medbio’s EBITDA grew 508% during Graham Partners’ holding period, further validating Graham’s history of successful partnerships in the medical and life sciences industries.
Joe Heinmiller, Managing Principal at Graham Partners, said, “With Medbio we saw the opportunity to acquire a fundamentally sound business with a growing position in the attractive medical and life sciences space and take it to the next level through both organic and acquisitive growth. We enjoyed collaborating with Medbio’s management team and former owners to achieve our shared vision for this business.” Chris Williams, Chief Executive Officer and former family owner-operator of Medbio, added, “The success we have had with Medbio over the past three years is a testimony of our partnership with Graham – their operational, manufacturing, and financial expertise catalyzed our business, positioning us for future lasting growth and profitability.”
About Graham Partners’ Healthcare Focus
One of Graham Partners’ focus areas includes investing and partnering with technology and conversion-driven businesses in the healthcare sector that are actively adapting to the evolving needs of their customers through innovation. Graham Partners has a specific interest in companies benefiting from the trends toward disposable medical products, minimally invasive surgeries, and outsourced medical device manufacturing.
FOR FURTHER INFORMATION CONTACT:
Joe Heinmiller (email@example.com)
Tel: (610) 408-0500