Cadence Inc., a leading provider of complex high-precision components and finished devices for advanced surgical and specialty industrial applications, signed an agreement for its takeover by Kohlberg & Company, a leading private equity firm based in Mount Kisco, New York.
Alan Connor, Cadence’s President & CEO of Cadence Inc., continuing to lead the Company with its management team remaining in place, said, “This transaction is a significant milestone in the history of Cadence and a testament to the outstanding team we have assembled. We are proud of what we have achieved as a team and excited about partnering with Kohlberg and writing the next chapter of the company’s history together.”
Cadence, headquartered in Staunton, VA., is a leading provider of end-to-end design, engineering, and manufacturing services for its customers across the globe. Innovations and manufacturing highly engineered metal and plastics subassemblies and finished devices, the company serves its customers’ base of leading medical device and specialty industrial companies in the endoscopy, minimally invasive orthopedics, laparoscopy, robotics, life science, and specialty industrial end-markets worldwide.
Kohlberg & Company L.L.C., a leading private equity firm headquartered in New York, is expected to extend financial support to accelerate the expansion of Cadence’s capabilities and its ability to serve customers in all of their core locations.
“We are excited to be partnering with the team at Cadence. Since its founding in 1985, the Company has cultivated a leading market position by designing and delivering highly technical solutions for its customers”, said, Roger Prevot, Operating Partner of Kohlberg. “We look forward to working closely with Cadence to accelerate, enhance, and expand its service offering, while supporting the Company’s longstanding commitment to providing exceptional service for each of its customers across all market segments.”