Harris Williams & Co. Advises Alcoa, Inc. on the Pending Sale of Remmele Medical to LISI SA
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for 25 years, announces the pending sale of Remmele Medical (Remmele), a subsidiary of Alcoa, Inc. (Alcoa; NYSE:AA), to LISI SA (LISI; EPA: FII). Harris Williams & Co. is serving as the exclusive advisor to Alcoa on the sale of Remmele Medical, a leading provider of contract engineering and manufacturing services to global medical device OEMs. The pending transaction, which is subject to customary closing conditions and is expected to close in Q2 2016, is being led by James Clark, Whit Knier and Bill Kayser of Harris Williams & Co.’s Healthcare & Life Sciences (HCLS) Group.
“We are thrilled to have represented Alcoa and Remmele in this transaction. Remmele’s industry-leading expertise in precision manufacturing will continue to drive its impressive growth through its partnership with LISI,” said James Clark, a managing director at Harris Williams & Co. “The transaction is indicative of the continued strong interest in high-quality medical device precision manufacturers from both strategic and financial acquirers.”
“Remmele’s reputation for high-quality products, engineering expertise, and unique manufacturing capabilities has resulted in deep, long-term relationships with the industry’s leading manufacturers,” Whit Knier, a director at Harris Williams & Co., added. “With its unique combination of high-value capabilities and diverse service offering, Remmele is well positioned to capitalize on increasingly complex medical instrument designs and continued OEM supplier consolidation.”
Remmele is a leading independent precision manufacturing platform highly focused on precision machining of device components for the minimally invasive surgical (MIS) and spine end markets. The company’s core competencies include expertise with advanced precision machining capabilities, exotic materials, collaborative manufacturing design processes and product lifecycle management from early development through product commercialization. Remmele specializes in providing manufacturing engineering and precision machining solutions for the MIS, spine, urology, vascular, dental and drug infusion medical end markets. Remmele is headquartered in Big Lake, Minnesota.
LISI is a worldwide leading manufacturer of fasteners and assembly components for the aerospace, automotive and medical devices industries. LISI posted sales of €1.458 million in 2015 and had approximately 10,000 employees as of the end of the year. LISI is a world leader in threaded and clip fasteners, and mechanical safety components for the aerospace and automotive industries. The Medical division of LISI specializes in the subcontracting of implants for groups that develop medical solutions.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s HCLS Group has experience across a broad range of sectors, including medical devices, products and distribution; alternate site care, outsourced clinical and practice management services; healthcare staffing; healthcare IT; managed care and cost containment services; and outsourced pharma services. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.