Lightyear Capital to buy Maxxim

OLDSMAR, Fla. (Sept. 10)—Lightyear Capital L.L.C. plans to purchase virtually all the assets and business of medical product maker Maxxim Medical Inc., which filed for relief under Chapter 11 of the U.S. Bankruptcy Code Feb. 11, for an undisclosed amount. The companies hope to close the deal by late October. The private equity investment firm and Maxxim signed an agreement Sept. 10 on the sale of the firm and several related subsidiaries but need approval of the U.S. Bankruptcy Court of the District of Delaware, lenders and regulatory agencies, as well as compliance with the bankruptcy code to finalize the deal. Maxxim is a manufacturer of specialty medical products, including rubber latex and synthetic latex examination and surgical gloves, custom procedure trays, and goods used for critical care and vascular access. Lightyear is based in New York and manages $2 billion in assets, including the Lightyear Fund.