Audax Private Equity is selling Laborie Medical technologies to Patricia Industries, a part of Investor AB.
Headquartered in Mississauga, Ontario, Laborie Medical Technologies is a provider of medical devices for urological, pelvic health and gastrointestinal applications.
The company’s products are used in the diagnosis and treatment of urinary incontinence and other urological and GI conditions.
Laborie supplies physician offices, hospitals, and mobile providers on six continents. Since Audax’ initial investment in 2012, Laborie has completed 14 acquisitions to expand product lines and enter international markets.
Geoffrey Rehnert, co-chief executive officer of Audax Group, says: “Brian Ellacott and the entire Laborie team have done an extraordinary job transforming the company through add-on acquisitions and product development from a manufacturer of capital equipment for urodynamic testing into a fully-integrated medical device company with a market-leading position in urology and a rapidly growing gastroenterology business. We are proud of the shared accomplishment and wish Laborie continued success with its new partner.”
Brian Ellacott, CEO of Laborie says: “Audax was a tremendously valuable partner to Laborie. Together we executed a transformational growth strategy which included 14 add-on acquisitions. We are excited to continue growing Laborie in partnership with Patricia Industries.”
Jefferies and Harris Williams & Co served as exclusive financial advisers to Laborie and Audax. Kirkland & Ellis and Stikeman Elliott served as legal advisers to Laborie and Audax.
