BOSTON, December 02, 2021--(BUSINESS WIRE)--Audax Private Equity ("Audax") today announced that it has successfully completed the sale of Katena Products ("Katena" or the "Company") to Corza Medical ("Corza"), a GTCR portfolio company.
Katena is a leading global provider of precision ophthalmic instruments and therapeutics to physician offices, hospitals, surgical centers, distributors, medical device OEMs, and clinics. Founded in 1975 and headquartered in Parsippany, New Jersey, Katena’s product offering includes precision surgical instruments, single-use devices, and specialty biologics that are sold in over 110 countries through a network of direct salespeople and distributors. Katena has more than 200 employees across Europe and North America and serves over 5,000 customers around the world.
Since being acquired by Audax in 2015, Katena has undergone a period of transformation, growth, and success:
Invested in systems and IT infrastructure, including ERP and CRM systems upgrades, to support product quality, realize operational efficiencies, and drive sales
Expanded and improved manufacturing capabilities and infrastructure, including integration of supply chain with a continued focus on insourcing initiatives
Completed eight acquisitions in order to expand the Company’s product portfolio, geographic presence, and manufacturing capabilities
David Wong, Managing Director at Audax, said, "We’ve enjoyed a terrific partnership with the Katena team and are very proud of the growth the Company has achieved. Over the course of our investment, Katena has expanded both its product portfolio and customer base via organic growth and strategic acquisitions. We wish the team continued success as a part of Corza Medical with GTCR’s support."
Steve Blazejewski, Chief Executive Officer of Katena, commented, "Audax has been an instrumental partner in helping Katena evolve into a leading ophthalmic products platform. With the support of Audax’ deep investment expertise, global resources, and operational experience, we have been able to accelerate our growth plans while enhancing our ability to meet the needs of our global customer base. We thank Audax for their partnership and look forward to embarking on our next phase of growth as a part of Corza Medical."
Robert W. Baird & Co served as financial advisor and Kirkland & Ellis served as legal advisor to Katena.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $30 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $7 billion in more than 140 platforms and over 1000 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax Private Equity seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 300 employees, Audax is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity website: www.audaxprivateequity.com or follow us on LinkedIn.
About Katena Products
Katena Products, Inc., is an innovation-driven, medical technology company serving the global eye care community. Founded in 1975 as a premier provider of ophthalmic instruments for surgical and in-office applications, Katena has maintained its high-quality standards in ophthalmic instrumentation while expanding its product portfolio to include tissue biologics, diagnostic lenses, punctum plugs, and corneal transplant devices across cataract, glaucoma, and corneal surgery. Please visit our website https://www.katena.com/.
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