Linden Capital Partners a Chicago-based healthcare private equity firm, announced on Feb 5 that it has completed an investment in The Flexan Corporation a leading global manufacturer of high-precision silicone and rubber parts predominately serving the medical device industry. The Company is headquartered in Chicago and operates manufacturing facilities in the greater Chicago area and China.
“Linden is a natural strategic fit for the Company due to their exclusive focus on healthcare and their deep medical products and contract manufacturing expertise,” said Scott Severson, Chief Executive Officer of Flexan. “Linden understands our industry and our culture, and can support both our organic growth and acquisition initiatives.”
“Flexan has distinguished itself through its people, track record, and proprietary capabilities,” said Linden Operating Partner Ron Labrum. Mr. Labrum, a 30-year medical products industry veteran, will join the Flexan Board of Directors as Chairman. Bruce Cohen and Frank Sullivan will join the board and will continue to serve as Presidents of the Flexan Corporation and FMI Inc., respectively. Mr. Severson will also join the Board.
“Partnering with Flexan is consistent with Linden’s decade-long strategy of collaborating with Operating Partners to invest in industry-leading companies within our targeted healthcare subsectors, and it marks a successful outcome of our dedicated contract manufacturing effort,” said Brian Miller, a Managing Partner at Linden. Flexan is the seventh and final platform investment from Linden’s second fund.