Kirtland Capital Partners, a distinguished private equity firm, has successfully concluded the sale of MicroGroup, Inc. (“MicroGroup”) to TE Connectivity Ltd. (“TE”). The transaction, in which terms were not disclosed, highlights Kirtland’s strategic investment approach and expertise in fostering growth within its portfolio companies. Lincoln International served as the exclusive investment banking representative for Kirtland and MicroGroup, underscoring their proficiency in facilitating strategic outcomes in the middle market.
MicroGroup stands as a premier manufacturer specializing in precision medical components and intricate sub-assemblies. Renowned for its capabilities in handling difficult-to-manufacture, small diameter stainless steel tubing, the company boasts a comprehensive suite of over 50 in-house precision metal production operations. This integrated approach supports the entire product lifecycle, from initial prototyping to full-scale production. MicroGroup’s reputation for excellence has garnered a client base that includes more than half of the world’s leading medical device and analytical instrument companies. Their components are integral to a wide array of medical applications, spanning analytical and diagnostic instruments, cardiology, gastroenterology and endoscopy, neurology and spinal, and orthopedic and sports medicine segments. Established in 1971 and headquartered in Medway, Massachusetts, MicroGroup has built a legacy of precision and reliability in the medical component manufacturing sector. Further details about the company can be found at www.microgroup.com.
The leadership at both MicroGroup and Kirtland Capital Partners expressed their satisfaction with the transaction and the role played by Lincoln International. Bill Bergen, President and CEO of MicroGroup, acknowledged Lincoln’s deep understanding of the medical device outsourcing landscape, stating, “Lincoln’s medical device outsourcing experience and insights were key to positioning MicroGroup’s unique business model and value proposition in a compelling manner.” Echoing this sentiment, Tom Littman, President and Managing Partner at Kirtland Capital Partners, emphasized Lincoln’s dedication and expertise in achieving a strategic outcome. “Lincoln faithfully represented Kirtland and other shareholders by driving a strategic outcome through senior level attention, buyer knowledge and relationships, and process excellence,” Littman remarked.
Lincoln International’s role as the exclusive investment banking representative was crucial in navigating the sale process for Kirtland Capital Partners and MicroGroup. Their expertise encompassed all critical phases of the transaction, including preparation, marketing, negotiation, and due diligence. Notably, the transaction was executed swiftly, closing in under three months from the commencement of the marketing process. This rapid and successful conclusion underscores Lincoln’s efficiency and strategic acumen in delivering optimal results for their clients.
About Kirtland Capital Partners
Kirtland Capital Partners is recognized as a prominent lower mid-market private equity firm, bringing 40 years of experience to partnering with management teams to drive sustainable value creation. Their investment strategy is characterized by flexibility, encompassing both majority and minority equity investments across a diverse portfolio of companies throughout the United States and Canada. Over its history, Kirtland Capital Partners has cultivated a successful track record of investments in niche manufacturing and business services sectors. The firm places a high value on building enduring partnerships with management teams, investors, operating resources, service providers, and financing partners, emphasizing the importance of relationships in achieving mutual success.
