Katahdin Industries, LLC, recently announced the sale of substantially all of the assets of Precision Coating (Hudson, Massachusetts, USA) to Integer Holdings Corporation. The transaction closed on January 7, 2025.
According to the companies, Precision Coating provides global Medtech customers with innovative products and services designed to enhance the surface functionality of patient-critical products.
Since 2006, Precision Coating has built a specialized proprietary coatings platform in the medical technology supply chain. The portfolio build, positioning, and growth trajectory was accelerated through five acquisitions including CHN Metal Finishing (2008), Medi-Solve (2008), Boyd Coatings Research (2015), a merger with N2 Biomedical (2021), and Providence Texture (2023).
A nearly 10-fold increase in scale over the hold period was further facilitated by investments in data systems, automation, materials development, and greenfield expansion in Costa Rica. The company currently operates out of four North American sites and one in Costa Rica.
“From the very beginning, we identified precise control over surface treatment as a key feature in the medical device manufacturing process,” says Tim Cabot, chairman of Katahdin. “We also saw a gap in the market to address unique coating-as-a-service needs for medical device customers and to position the company to become a fully capable contract manufacturing services provider for the full life cycle of each product we work on.”
“Over time, our market focus has also allowed us to expand and enhance our specialized, high-value, and innovative application solutions, including GlideLine, our proprietary fluoropolymer coatings for medical devices; MICRALOX, our patented anodic coatings for re-usable medical instruments; and IonGuard, our proprietary ion treatment for implants,” Cabot says.
Piper Sandler & Co. served as exclusive financial advisor to Katahdin, while Ruberto, Israel, & Weiner, P.C. served as legal advisors.
“We are very excited about the acquisition of Precision Coating by Integer,” says Bill Ellerkamp, president of Precision Coating. “We are proud of the strong and defensible position we’ve built in the proprietary coatings segment of the Medtech industry and the exceptional company culture we’ve created. Integer is uniquely positioned to capitalize on the strengths of our technologies, and our respective cultures are well aligned. We are confident in the future of Precision Coating as part of Integer.”
Source: Precision Coating, www.precisioncoating.com.