Audax Private Equity finalizes the sale of Katena products to Corza Medical, a GTCR portfolio company
BOSTON–(COMMERCIAL THREAD) – Audax Private Equity (“Audax”) today announced that it has successfully completed the sale of Katena Products (“Katena” or the “Company”) to Corza Medical (“Corza”), a portfolio company of GTCR .
Katena is a leading global supplier of precision ophthalmic instruments and therapeutic products to physician offices, hospitals, surgical centers, distributors, medical device OEMs and clinics. Founded in 1975 and headquartered in Parsippany, New Jersey, Katena’s product offering includes precision surgical instruments, single-use devices, and specialty biologics that are sold in more than 110 countries through a network of direct sellers and of distributors. Katena has more than 200 employees in Europe and North America and serves more than 5,000 customers around the world.
Since its acquisition by Audax in 2015, Katena has experienced a period of transformation, growth and success:
Investment in IT systems and infrastructure, including ERP and CRM system upgrades, to support product quality, achieve operational efficiencies and drive sales
Expanded and improved manufacturing capabilities and infrastructure, including supply chain integration with a focus on internalization initiatives
Completed eight acquisitions to expand the company’s product portfolio, geographic presence and manufacturing capabilities
David Wong, Managing Director of Audax, said: “We have enjoyed a great partnership with the Katena team and are very proud of the growth the company has achieved. During our investment, Katena expanded both its product portfolio and its customer base through organic growth and strategic acquisitions. We wish the team continued success at Corza Medical with the support of GTCR. ”
Steve Blazejewski, CEO of Katena, said: “Audax has been an essential partner in helping Katena become a leading ophthalmic products platform. With the support of Audax’s deep investment expertise, global resources and operational experience, we have been able to accelerate our growth plans while improving our ability to meet the needs of our global customer base. We thank Audax for its partnership and look forward to embarking on our next phase of growth within Corza Medical. ”
Robert W. Baird & Co served as financial advisor and Kirkland & Ellis served as legal advisor to Katena.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York and San Francisco. Since its inception in 1999, the company has raised more than $ 30 billion in capital in its Private Equity and Private Debt businesses. Audax Private Equity has invested more than $ 7 billion in more than 140 platforms and more than 1,000 complementary companies, and is currently investing in its sixth private equity fund of $ 3.5 billion. Through its disciplined Buy & Build approach, Audax Private Equity seeks to help platform companies make complementary acquisitions that fuel revenue growth, optimize operations and significantly increase equity value. With more than 300 employees, Audax is a leading capital partner for businesses in the North American mid-market. For more information, visit the Audax Private Equity website: www.audaxprivateequity.com or follow us on LinkedIn.
About Katena products
Katena Products, Inc., is an innovation-driven medical technology company serving the global eye care community. Founded in 1975 as a premier supplier of ophthalmic instruments for surgical and office-based applications, Katena has maintained its high quality standards for ophthalmic instruments while expanding its product portfolio to include tissue biologics, lenses diagnostic, tear plugs and corneal transplant devices through cataracts, glaucoma and corneal surgery. Please visit our website https://www.katena.com/.