Team Technologies Inc., a North American engineering services and specialty manufacturer focused on serving healthcare end markets, announced today that it has acquired Precision Die Cutting LLC, a medical specialty manufacturer specializing in skin-contacting technologies and infection prevention products. Team is backed by Clearlake Capital Group LP, which acquired the company in 2018.
“We are excited to welcome PDC as we continue to expand our manufacturing capabilities in high growth, recession-resistant healthcare verticals,” said Marshall White, President and CEO of Team. “The acquisition of PDC will allow us to scale our world-class healthcare manufacturing platform by enhancing our portfolio of capabilities to serve our OEM customers. We would like to welcome Steve, his team and their customers to the Team family, and we look forward to continue growing the combined business.”
“The combination with Team marks a new phase in PDC’s growth and evolution,” said Steve Gasparrelli, CEO and founder of PDC. “With the integration of our complementary product offerings and manufacturing capabilities, Team is well-positioned to provide our combined customer base with an ever-expanding range of high-quality products to address their most critical needs.”
Sphaeris Capital served as exclusive financial advisor to Team for the transaction.