Maxxim Sale To Lightyear Resolves Bankruptcy; Management Likely To Stay
This article was originally published in The Gray Sheet
Executive Summary
Investment firm Lightyear Capital's acquisition of Maxxim Medical will strengthen the procedure tray manufacturer's balance sheet and enable it to emerge from bankruptcy proceedings largely intact, the company asserts
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Maxxim asset sale
Privately held Medline's acquisition of Maxxim Medical's med/surg business solidifies its number one and two positions in the exam glove and tray markets, respectively, the firm says. A joint proposal by Medline and private equity firm RoundTable Healthcare Partners beat out investment firm Lightyear in a Delaware bankruptcy court auction of Maxxim assets Oct. 27 (1"The Gray Sheet" Sept. 22, 2003, p. 20). Approved by the court Oct. 28, the proposal was valued at about $100 mil., Medline says. RoundTable gains Maxxim's Argon vascular access and pressure monitoring products business, including guidewires, catheters, needles and sheath introducers. No layoffs or facility closures are planned...
Maxxim asset sale
Privately held Medline's acquisition of Maxxim Medical's med/surg business solidifies its number one and two positions in the exam glove and tray markets, respectively, the firm says. A joint proposal by Medline and private equity firm RoundTable Healthcare Partners beat out investment firm Lightyear in a Delaware bankruptcy court auction of Maxxim assets Oct. 27 (1"The Gray Sheet" Sept. 22, 2003, p. 20). Approved by the court Oct. 28, the proposal was valued at about $100 mil., Medline says. RoundTable gains Maxxim's Argon vascular access and pressure monitoring products business, including guidewires, catheters, needles and sheath introducers. No layoffs or facility closures are planned...
Maxxim Medical Management-Led Leveraged Buyout Valued At $800 Mil.
The management of Maxxim Medical plans to take the specialty medical products company private with the help of Foster City, California-based investment firm Fox Paine & Company and Chase Manhattan.