Team Technologies Inc., a growth oriented engineering services and specialty manufacturer for healthcare markets and backed by Clearlake Capital Group LP, has acquired iiMed Medical Solutions LLC from Acon Investments.
iiMed is a specialty manufacturer of FDA Class I & II consumable medical devices partnering with healthcare OEMs from design to manufacturing devices for patient monitoring, wound care and compression therapy treatments. The firm’s core capabilities include RF welding, flame lamination, converting, sewing and clean room assembly.
The deal will enhance Team’s portfolio of scalable technical capabilities and establishes an attractive nearshore presence to support the combined business customers.
“This transaction combines highly complementary manufacturing processes and deepens both organizations’ capabilities within critical healthcare end markets,” said Ben Kruger, vice president, Clearlake. “We are pleased to welcome iiMED’s employees as we continue our growth trajectory with TEAM. We look forward to leveraging our O.P.S.® framework to integrate the platforms and continue driving accelerated growth through both organic and inorganic initiatives.”