Funds From Norwest Mezzanine Partners Allow Avail Medical To Execute Growth Plan
November 08, 2000
Norwest Mezzanine Partners announced today its investment in Avail Medical Products, Inc. of Fort Worth, Texas. Closed on November 8, 2000, the transaction consisted of $5 million in senior subordinated debt with warrants. New York-based UBS Capital Americas is the equity sponsor.
According to Jim Breckenridge, partner at UBS Capital Americas, “Within the disposable medical products industry, Avail Medical sees many great opportunities to grow their business through acquisition and integration. We have now found the financial partners, including Norwest Mezzanine, to support Avail in their strategic execution. This financial alliance allows them to continue to be a leading North American provider of contract manufacturing to the disposable medical products industry.”
We are excited about our investment in Avail Medical,” indicates Michael Hall, partner with Norwest Mezzanine. “The quality of the senior management team along with the validity of the company’s strategic direction positions Avail Medical as a premiere contract manufacturer in the disposable medical products industry.”
Avail Medical was formed in 1995 to execute a rollup of manufacturing and process engineering services for the disposable medical products industry. The company designs custom, disposable medical products for original equipment manufacturers, providing a wide range of services that reduce manufacturing costs and compress lead times. Avail employs over 2,000 people at its eight ISO 9002-certified facilities located in California, Texas, North Carolina, Pennsylvania and Mexico.