Citizens M&A Advisory served as the exclusive M&A advisor to Bionix Development Corporation on its recapitalisation by Argosy Private Equity.
Bionix, headquartered in Toledo, Ohio, is a leading developer of innovative healthcare products for single-use ear, nasal and wound care applications, among others. Co-founded in 1984 by Drew Milligan, PhD, and Jim Huttner, MD, PhD, Bionix produces its products in the United States and is trusted by physicians throughout the care continuum for developing premium products that set innovation, quality and performance standards. Argosy’s investment will allow Bionix’s co-founders and management team, led by President and CEO Chris Becker, to accelerate the company’s new product development and other organic and inorganic growth opportunities.
“We are greatly appreciative of the Citizens M&A Advisory team’s guidance throughout this recapitalisation process, which has provided us with an ideal partner in Argosy for accelerating growth and maintaining Bionix’s proud legacy and culture in Toledo,” says Huttner, who will continue in his role as medical director and vice president of product development.
“Bionix is an exceptional medical device company,” says Andrew Male, managing director in Citizens’ healthcare M&A practice. “We are excited for our clients to be able to accelerate the Company’s growth initiatives through this partnership with Argosy and further build upon the founders’ 30-year legacy of developing innovative, premium healthcare products.”
Argosy Private Equity, founded in 1990, specialises in providing capital and operating and financial expertise to lower middle market companies across a broad range of industries. Argosy Private Equity is a division of Argosy Capital Group (Argosy Capital) together with Argosy Real Estate Partners and Argosy Credit Partners. Argosy Capital is an SEC registered investment adviser with approximately USD1.5 billion of assets under management. All of the Argosy Capital funds focus on lower middle market investments.
Citizens M&A Advisory specialises in middle-market mergers and acquisitions as well as later-stage financing transactions. Citizens combines sector intelligence with a client-focused approach to realise our clients’ true value. The Citizens team has closed more than 150 transactions in the last five years and has more than 60 M&A professionals specialising in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc, a subsidiary of Citizens Financial Group.
