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Manning Advisors LLC

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Posts Categorized / In the News

  • Nov 07 / 2016
  • Comments Off on Manning Deal Alert: AMETEK, Inc. Acquires Laserage Technology Corporation
Company Sale, In the News

Manning Deal Alert: AMETEK, Inc. Acquires Laserage Technology Corporation

AMETEK, Inc. (NYSE: AME) has acquired Laserage Technology Corporation and its wholly-owned Silicon Valley based subsidiary, Venta Medical, Inc.

Manning Advisors advised Laserage on this transaction.

AMETEK’s announcement may be found here.

For more information please contact Richard W. Sager at rsager@manningadvisors.com or at (585) 315-8413 directly.

  • Aug 28 / 2015
  • Comments Off on Greatbatch to Acquire Lake Region Medical for $1.73 Billion
Acquisition, Deal Brief, In the News, Medical Device

Greatbatch to Acquire Lake Region Medical for $1.73 Billion

GBgraphic

Greatbatch (NYSE:GB) announced it will acquire Lake Region Medical for $1,73 billion, creating the world’s largest medical device contract manufacturer with sales of over $1.5 billion. The transaction, scheduled to close in the fourth quarter, breaks down between cash, stock, and debt assumption. Specifically:

  • Lake Region shareholders will receive $478 million in cash
  • Additionally, Greatbatch will issue 5.1 million shares of stock, giving the Lake Region shareholders approximately 17% of the combined entity
  • Greatbatch will assume approximately $1 billion in Lake Region debt

The deal was estimated by industry watchers to have been done at 11.6X adjusted EBITDA.

The acquisition of Lake Region (which includes the former Accellent) by Greatbatch will prove a turning point in the evolution of the medical supply chain. The combination of two industry leaders in CV, neuro, MIS, and arguably ortho to form the first billion dollar plus contract manufacturer of its kind reflects the twin trends of OEM and supplier consolidation. While smaller contract manufacturers can thrive as specialists or by offering superior performance, it may be time for larger CMs to review strategy in light of this deal.

For more information on medical supply chain trends or to exchange views please contact Richard W. Sager at (585) 315-8413 or at rsager@manningadvisors.com.

Read more information on the transaction here.

  • Jun 15 / 2015
  • Comments Off on United Technologies and Sikorsky
Deal Brief, In the News

United Technologies and Sikorsky

United Technologies announced today that it plans to sell or spin off its Sikorsky helicopter unit by the end of the third quarter. UT plans to concentrate on its other aerospace initiatives. Today’s announcement comes on the heels of Sikorsky’s June 2 press release announcing 1,400 layoffs and closure of its Bridgeport, Connecticut facility.

Today’s NY Times article

For more information please contact Richard W. Sager at Manning Advisors at rsager@manningadvisors.com or at (585) 315-8413 directly.

As always, I look forward to your questions and comments.

  • Mar 21 / 2014
  • Comments Off on The Limitations of “Value Engineering”
In the News

The Limitations of “Value Engineering”

Bloomberg published a fascinating article today detailing the consequences GM faces for price squeezing their suppliers. As more industries adopt parts of the “automaker’s playbook” for managing their supply chains this topic is timely.

Read here.

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