New Mountain Capital affiliate to acquire Flexan

NEW YORK—ILC Dover, an affiliate of New Mountain Capital L.L.C., said it has reached an agreement to acquire Flexan, a leading medical device contract design and manufacturing organization that specializes in silicone, thermoplastic and specialty rubber components and devices.

The transaction is expected to close by August, subject to customary closing conditions and regulatory approvals, New Mountain said.

Headquartered in Lincolnshire, Ill., Flexan is a full-service leading contract design and manufacturing organization specializing in high-precision silicone, rubber and thermoplastic components for the medical device industry.

Flexan, which was founded in 1946, serves many of the world's largest medical device companies. The combined company will "leverage their respective expertise and capabilities to serve a broader client base situated in both medical device and biopharmaceutical end markets," New Mountain said in a new release.

"Flexan's expertise in silicone molding and thermoplastic extrusion enables the company to deliver mission-critical components and devices to medical device manufacturers and ultimately improve patient care," New Mountain's managing director, Andre Moura, said in the release. "We look forward to working closely with the management teams at Flexan and ILC Dover to drive the next chapter of growth and innovation across life sciences markets."

This is the second acquisition ILC Dover has completed since partnering with New Mountain Capital in early 2020. Last September, ILC Dover acquired Solo Containment Ltd., which manufactures flexible film isolators in the United Kingdom.