The Company: Laborie Medical Technologies, Inc. (“LABORIE”), based in Toronto, Ontario, is a leading global provider of urodynamic testing equipment and consumables for urinary incontinence. Laborie supplies physician offices, hospitals and mobile providers on six continents.
The Deal: Audax Private Equity, together with management, has invested in Laborie. Oliver, Lipman & Associates advised Laborie. Bank of Montreal provided financing to support the investment.
The Thesis: Invest behind a leading global manufacturer and supplier of medical testing equipment and consumables with exceptional brand recognition and industry-leading technologies. Audax will work with management to execute a growth strategy focused on business transition and professionalization, expanding into adjacent markets, and strategic add-on acquisitions.
LTM Platform Investments:
Audax Investment Criteria: Audax private equity invests over $2.4 billion of equity capital in control acquisitions of lower-middle market companies across a select group of industries. We pursue a Buy & Build strategy that transforms small businesses into strategic assets. This involves buying platform companies that are niche market leaders in our areas of expertise and combining them with a series of strategic add-on acquisitions that catalyzes organic growth. To supplement our Buy& Build approach, we pursue numerous execution-oriented strategies including business professionalization, operational improvement and organic revenue growth to further generate value.