Sounds like the Asheville manufacturing facility will continue operating. Here’s the story:
FORT WORTH — Ancor Capital Partners, a Fort Worth-based private-equity firm, has sold its Avail Medical Products company, a manufacturer of sterile, single-use disposable medical devices, to Flextronics in Singapore.
Avail will continue to operate as a stand-alone division of Flextronics Medical, the company said. Avail employs about 3,500 people at locations in the U.S., Mexico, Europe and China. Locally, it operates a 100,000-square-foot manufacturing facility north of Dallas/Fort Worth Airport and another at a tech center in Irving. There are a few executives at its headquarters in downtown Fort Worth.
The sale of the company was announced in August and closed at the end of January. Terms were not disclosed.
As a result of the acquisition, Flextronics said it expects its medical segment to generate between $850 million and $950 million in revenue in the fiscal year ending March 31, 2009.
“The acquisition of Avail expands our existing global design and manufacturing capabilities, creating a more robust and competitive offering that now includes a wide range of disposable medical devices such as catheters, wound management and drug-delivery devices,” Dan Croteau, president of Flextronics Medical, said in a statement.
Flextronics is an $18 billion global electronics-manufacturing services provider that helps customers design, build, ship and service products from its network of 30 countries on four continents.
Ancor acquired four companies and consolidated them to form Avail Medical Products in 1999. Avail’s other domestic manufacturing facilities are in Asheville, N.C.; Santa Ana, Calif.; and State College, Penn.
Ancor Capital is an operations-oriented private-equity firm that focuses on manufacturing and distribution companies in the lower-middle market. It has acquired 19 companies in its 13-year history. The company was founded by Timothy McKibben and Randall Keene as Ancor Holdings.