Ampersand completes growth equity investment in N2 Biomedical
Bedford, MA – June 18, 2019: N2 Biomedical, a leading provider of coating and surface treatment solutions to the medical device industry, announced today the majority recapitalization of the company by Ampersand Capital Partners. As part of the transaction N2 also announced the appointment of Randall Sword, an executive with 30 years of experience in the medical device sector, as President and CEO. Mr. Sword has served in executive leadership positions at multiple leading medical device manufacturing companies, including as CEO of AdvancedCath. Since its founding in 2013, N2 has processed millions of implantable medical devices utilized in orthopedic and cardiovascular procedures. The company’s proprietary processes are utilized in a variety of critical settings to improve material characteristics including lubricity, infection resistance, biocompatibility and tissue integration, and wear and corrosion resistance. Mr. Sword commented, “I am very pleased to join a company with such unique technologies and a history of developing innovative coating and surface modification solutions for the medical device industry. With the support of an experienced and successful medical device investor in Ampersand, we look forward to further enhancing the high level of service and innovation customers have come to expect from N2.” Trevor Wahlbrink, a Partner at Ampersand added, “N2 is an excellent fit with Ampersand’s investment strategy in the medical device industry, in which we target industry leaders with differentiated manufacturing technologies that address the critical needs of patients and global medical device OEMs. We are very excited to partner with Randall and the rest of the N2 management team to continue the company’s growth trajectory and support the expansion of N2’s service offering in this rapidly evolving industry.” N2 co-founders Mark Little and Eric Tobin remain shareholders in the company. Mr. Little will remain on the Board of Directors, and Mr. Tobin will remain in his current position as the company’s Chief Operating Officer. About N2 Biomedical Established in 2013, N2 provides coating and surface treatment development and application services for medical devices utilized in orthopedic, cardiovascular, and other healthcare end-markets. N2 is ISO- 13485 certified, FDA GMP-compliant, and operates in a 30,000 square foot facility with laboratory, manufacturing, and cleanroom space to service all customer and regulatory requirements. The company leverages its proprietary processes and equipment to provide customized solutions that enhance the characteristics of various materials in critical applications, including lubricity, infection resistance, biocompatibility and tissue integration, and wear and corrosion resistance. Additional information about N2 Biomedical is available at www.N2bio.com. About Ampersand Capital Partners Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of its core healthcare sectors, including Avista Pharma Solutions, Brammer Bio, Confluent Medical, Genewiz, Genoptix, Talecris Biotherapeutics, and Viracor-IBT Laboratories. Additional information about Ampersand is available at www.ampersandcapital.com.