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Inverness Graham and Wedbush Capital sell plastics firm to healthcare PE firm

Inverness Graham Investments and Wedbush Capital Partners have announced the sale of portfolio company ExtruMed to Vesta, a portfolio company of RoundTable Healthcare.

Inverness Graham Investments and Wedbush Capital Partners have announced the sale of portfolio company ExtruMed to Vesta, a portfolio company of RoundTable Healthcare.

The sale has generated a 3.4 times equity return multiple and a 48 per cent internal rate of return for ExtruMed’s investors.

ExtruMed, headquartered in Placentia, California, is the nation’s largest independent manufacturer of thermoplastic tubing for diagnostic and therapeutic medical devices and procedures.
 
‘We are exceedingly pleased with such a successful exit in this market,’ says Scott Kehoe, managing principal of Inverness Graham. ‘ExtruMed is an excellent example of our ‘buy-and-build’ investment philosophy. We worked very closely with the company’s founders to acquire and integrate two complementary add-on acquisitions, build out the company’s sales and marketing infrastructure and recruit a world-class medical device chief executive.

‘These initiatives enabled the company to deliver an enviable track record of strong financial performance and further cement its relationships with leading medical device OEMs across a range of high growth medical device application areas.’
 
Vraj Lathiya, the founder of ExtruMed adds: ‘Inverness Graham and Wedbush Capital delivered on their commitment to work side-by-side with us to help take our business to a new level by investing in our people, processes and systems. Through their professionalism, strategic focus and value-added orientation, they transformed a small family-owned company into one capable of competing on a global scale. This was truly a rewarding partnership.’
 
Inverness Graham, Wedbush Capital and ExtruMed’s management team were assisted by William Blair & Company during the sale process.

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