17 Jun Amherst Advises on Sale of Mectra Labs
Amherst Partners, LLC (“Amherst”) is pleased to announce the sale of Mectra Labs, Inc. (“Mectra” or “the Company”) to Key Surgical, a portfolio company of Water Street Healthcare Partners, LLC (“Water Street”). Amherst acted as the exclusive financial advisor to Mectra in connection with the transaction.
About Mectra Labs, Inc.
Mectra, founded in 1988 and based in Bloomfield, Indiana, is a leading provider of high quality, innovative products utilized in surgical procedures, primarily those performed laparoscopically. The Company’s product suite includes market-leading Electro Lube®, a specially formulated lubricant used in surgeries to prevent the buildup of tissue on electrocautery devices.
About Key Surgical
Eden Prairie, Minnesota-based Key Surgical, also founded in 1988, partnered with private equity firm Water Street in 2017 to facilitate Key Surgical’s merger with German peer Interlock. It was a market-leading combination that created one of the world’s premier providers of sterile processing and operating room supplies. The merger brought together U.S. leader Key Surgical with Interlock, a leading European provider, and Clinipak, a premier provider in the United Kingdom. The combined company offers a broad range of sterile processing and operating room products and supplies to nearly 10,000 hospitals and surgical centers around the world.
About the Transaction
After deciding to pursue the sale of Mectra in order to achieve certain estate planning objectives, Mectra’s founder and CEO, Thomas Clement, engaged Amherst Partners to act as Mectra’s exclusive financial advisor for the transaction. Amherst’s healthcare team identified and contacted a robust cross section of potential buyers, both strategic and financial, capable of facilitating the Company’s expansion into new markets while accelerating its track record for innovative new product introductions. During the course of the sale process, Amherst engaged with multiple medical device companies keenly interested in adding Mectra’s portfolio of premier products to their existing offerings. Ultimately, it was Key Surgical that was best able to meet the various objectives set forth by Mectra’s owner.