Clearlake Capital-Backed TEAM Technologies Acquires PDC

Posted: 25th May 2021 09:51

TEAM Technologies, Inc., a growth-oriented North American engineering solutions and specialty manufacturer focused on serving healthcare end markets, announced today that it has acquired Precision Die Cutting, LLC, a medical specialty manufacturer specialising in skin-contacting technologies and infection prevention products.

TEAM is backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake“), which acquired the company in 2018.  Financial terms were not disclosed.

PDC has a long track-record of delivering high-quality products and engineering solutions to its loyal base of blue-chip healthcare customers.  TEAM Technologies meets the needs of healthcare product companies seeking innovative and efficient commercialization, product development, and manufacturing solutions by providing services ranging from product design and development to finished device manufacturing, assembly and packaging. The combination with PDC further augments TEAM’s existing capabilities in die-cutting, laminating and device assembly, having previously acquired Baril Corporation in August 2020.

“We are excited to welcome PDC as we continue to expand our manufacturing capabilities in high growth, recession-resistant healthcare verticals,” said Marshall White, President and CEO of TEAM. “The acquisition of PDC will allow us to scale our world-class healthcare manufacturing platform by enhancing our portfolio of capabilities to serve our OEM customers. We would like to welcome Steve, his team and their customers to the TEAM family, and we look forward to continue growing the combined business.”

“The combination with TEAM marks a new phase in PDC’s growth and evolution,” said Steve Gasparrelli, CEO and founder of PDC. “With the integration of our complementary product offerings and manufacturing capabilities, TEAM is well-positioned to provide our combined customer base with an ever-expanding range of high-quality products to address their most critical needs.”

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