Audax Private Equity has closed on a single-asset continuation fund to support additional investment in its portfolio company, Aspen Surgical Products. As part of the investment vehicle, Goldman Sachs Asset Managment, Hamilton Lane, Audax, and its Fund VI LP’s supported proceeds for the transaction.

Aspen is a manufacturer of surgical disposables focused on improving patient and healthcare provider safety and efficiency in the hospital and surgery center environment. The firm provides single-use surgical products to acute care and surgical settings.

“Since our initial investment in 2019, Aspen has experienced a period of extraordinary transformation, tripling the scale of the company by expanding geographic coverage, accelerating the introduction of innovative new products, and acquiring five complementary businesses,” said David Wong, managing director, Audax Private Equity. “Alongside Goldman Sachs and Hamilton Lane, this transaction allows us to amplify our support of this proven executive team and pursue imminent organic growth and acquisition opportunities.”

Evercore and Piper Sandler served as financial advisors to Audax Private Equity with Kirkland & Ellis serving as legal advisors.