November 6, 2014
LockeBridge, a Boston based investment bank focused on mergers, acquisitions, valuations and capital raises, announced today that it has acted as the exclusive financial advisor to Surgical Tables, Inc. (STI). in its sale to ADDvise Lab Solutions, AB (ADDvise), a Swedish based public company listed on the Stockholm exchange. Founded in 2004, Surgical Tables Inc. specializes in the manufacturing of high quality, cost-effective surgical tables and accessories which are utilized primarily outside the operating room. STI clients include many of the most well respected health care providers throughout the world. ADDvise, a leading provider of healthcare and research products, manufactures and sells products including laboratory furniture, protective ventilation, clean room systems and laboratory equipment.
According to Mr. Jason Waldo, President of STI, “We are very fortunate to have identified a highly strategic buyer in the European market, such as ADDvise. We appreciate that closing a transaction with a foreign entity adds an additional layer of complexity to the closing process. Considering the foregoing, LockeBridge’s assistance in negotiating and structuring the deal terms as well as managing the diligence process all the way through closing was extremely valuable.”
Mr. Rikard Akhtarzand, CEO ADDvise Group, states, “Surgical Tables, Inc. is strategic acquisition for the ADDvise group adding a strong product portfolio within the medical equipment field. ADDvise’s European distribution platform will secure continued growth for STI while STI’s US platform can be used for launching ADDvise products in the US market”
Mr. Scott Waxler, LockeBridge Managing Partner states, “This transaction compliments the recent award presented to us by London’s ACQ magazine (LockeBridge Awarded USA Leading Investment Bank by London’s ACQ Magazine). We are committed to exposing our clients to the best potential buyers across the globe. This global exposure has resulted in better values and terms for our sell-side clients.”