Costa Mesa, Calif. - May 18, 2006, Inverness Capital Partners and Wedbush Capital Partners have acquired Extrusioneering Inc. Transaction terms were not disclosed.
RSM EquiCo Capital Markets initiated the transaction and acted as the exclusive financial advisor to Extrusioneering.
"Inverness and Wedbush Capital's acquisition of Extrusioneering complements their 2005 purchase of ExtruMed Inc., a custom extruder of precise, close tolerance tubing for demanding medical applications," said Randy Krauthamer, managing director of the RSM EquiCo Capital Markets.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private companies with annual revenues of up to $500 million. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives. RSM EquiCo Capital Markets LLC is licensed by the SEC and all state securities authorities, and is a member of the NASD and SIPC.
RSM EquiCo Capital Markets is a subsidiary of RSM EquiCo Inc., a financial services firm affiliated with RSM McGladrey Inc., one of the nation's largest providers of business and tax consulting, wealth management, retirement resources and payroll services to midsized companies.
RSM EquiCo's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York, London and Coral Springs, Fla.
About Extrusioneering Inc.
Founded in 1995 and based in Temecula, Calif., Extrusioneering manufactures small diameter medical tubing, including tight tolerance single- and multi-lumen geometries, co-extrusions, polyolefin balloon tubing and shrink tubing. The company's products are primarily used as delivery systems for less invasive surgical procedures throughout the body and as components of implantable medical devices. The ISO certified company offers the following services: expert tool design for exacting geometries; custom compounding for optimizing material properties, color, and radiopacity; irradiation consultation for enhancing material properties; development studies, engineering runs, or production volumes; and in-house tooling capabilities. Most of Extrusioneering's customers are U.S. medical device manufacturing companies.
About Inverness Capital Partners
Inverness Capital Partners, part of the Graham Group of private equity funds and industrial businesses, is a $125 million private equity fund. Inverness, which has offices in Philadelphia and Boston, acquires or provides expansion capital to innovative industrial businesses and industrial technology providers. Inverness invests in companies with proprietary manufacturing technologies or innovative processes across a range of manufacturing industries. The fund targets businesses with strong sustainable margin potential and with current revenues between $5 million and $50 million.
About Wedbush Capital Partners
Wedbush Capital Partners invests in and buys profitable and growing, lower middle-market companies located primarily in the Western United States. Since 1987, the firm has made more than 70 investments in a diverse range of companies. Wedbush Capital is affiliated with Wedbush Morgan Securities, a NYSE investment bank.
CONTACT:
RSM EquiCo Inc.
Todd Cooley, Director of Communications
714.327.8865
tcooley@rsmequico.com
RSM EquiCo is a tradename for RSM EquiCo, Inc. and its subsidiaries, which include: RSM EquiCo Capital Markets, LLC (broker-dealer licensed by the SEC and member NASD, SIPC), RSM EquiCo Canada, Inc. (limited market dealer registered with the Ontario Securities Commission) and EquiCo Europe Limited (authorised and regulated by the Financial Services Authority). RSM EquiCo, Inc. and its subsidiaries are wholly owned subsidiaries of H&R Block.