RoundTable Healthcare Partners Completes Sale of Symmetry Surgical to Aspen Surgical
LAKE FOREST, IL, October 27, 2022 – RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today that it has completed the sale of Symmetry Surgical (“Symmetry” or the “Company”) to Aspen Surgical (“Aspen”), a portfolio company of Audax Private Equity. Terms of the transaction were not disclosed.
Transaction Marks the Fourth Portfolio Realization for RoundTable’s Equity Fund IV
Symmetry is a manufacturer, marketer and distributor of reusable surgical instrumentation, electrosurgical products, and minimally invasive surgical devices. The Company maintains a rich legacy of trusted brands including Bookwalter®, Bovie®, Greenberg®, Reddick® and The O.R. Company, amongst others, that support a wide range of surgical specialties and sites of care. The Company is headquartered in Nashville, TN, with operations in Louisville, KY, Tuttlingen, Germany and Melbourne, Australia.
RoundTable acquired a majority interest in Symmetry in July 2016. In partnership with management, RoundTable supported the diversification into adjacent product categories, implemented a new commercial model focused on direct selling and executed and integrated three material add-on transactions, positioning the business for sustainable long-term growth.
“I would like to thank the outstanding management team and dedicated employees of Symmetry for their tireless work in building a leading surgical solutions platform. We are proud of the team for the growth they have achieved and the service they have provided their customers,” said Tom Kapfer, Managing Partner of RoundTable and Chairman of Symmetry. “We believe that Aspen will be an excellent partner for the Company and its employees and customers going forward.”
Brian Straeb, Chief Executive Officer of Symmetry, added, “RoundTable has been an invaluable partner for Symmetry. They have supported us through strategic investments to enhance the commercial organization and multiple transformative acquisitions to build our portfolio of brands. We now look forward to entering our next phase of growth with Aspen.”
William Blair and Baird acted as financial advisors to Symmetry. Gibson, Dunn & Crutcher LLP acted as exclusive legal advisor to RoundTable in this transaction.
ABOUT ROUNDTABLE HEALTHCARE PARTNERS
RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable has raised $3.45 billion in committed capital, including five equity funds totaling $2.85 billion and three subordinated debt funds totaling $600 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.