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Cadence Inc. to be acquired by Kohlberg & Company

Cadence Inc., a leading provider of complex high-precision components and finished devices for advanced surgical and specialty industrial applications, announced today the signing of a definitive agreement to be acquired by Kohlberg & Company, a leading private equity firm based in Mount Kisco, New York.

Alan Connor, Cadence’s President & CEO, will continue to lead the Company and its management team will remain in place.  “This transaction is a significant milestone in the history of Cadence and a testament to the outstanding team we have assembled.  We are proud of what we have achieved as a team and excited about partnering with Kohlberg and writing the next chapter of the company’s history together,” said Connor.

Cadence is a leading provider of end-to-end design, engineering, and manufacturing services for its customers across the entire product lifecycle.  The Company innovates and manufactures highly engineered metal and plastics subassemblies and finished devices for its customer base of leading medical device and specialty industrial companies across the endoscopy, minimally invasive orthopedics, laparoscopy, robotics, life science, and specialty industrial end-markets worldwide.

Backed by the financial strength of Kohlberg’s private equity funds, it is expected that the acquisition will accelerate the expansion of Cadence’s capabilities and its ability to serve customers in all of their core locations.  “We are excited to be partnering with the team at Cadence,” commented Roger Prevot, Operating Partner of Kohlberg.  “Since its founding in 1985, the Company has cultivated a leading market position by designing and delivering highly technical solutions for its customers.  We look forward to working closely with Cadence to accelerate, enhance, and expand its service offering, while supporting the Company’s longstanding commitment to providing exceptional service for each of its customers across all market segments.”

Kohlberg plans to maintain current operations, allowing Cadence’s long-standing tradition of design, development, and manufacturing excellence to continue unimpeded.  “Kohlberg’s reputation of investment success within the medical device manufacturing sector as well as its track record of fostering world-class operational performance makes them the ideal partner to help us accelerate Cadence’s plans for strategic growth,” said Connor.

Piper Jaffray is serving as exclusive financial advisor to Cadence on the transaction.  DLA Piper LLP (US) is serving as legal advisor to Cadence.  Baird is serving as financial advisor, and Ropes & Gray LLP is serving as legal advisor to Kohlberg in connection with the transaction.

About Kohlberg

Kohlberg & Company L.L.C. (“Kohlberg”) is a leading private equity firm headquartered in New York. Since its inception in 1987, Kohlberg has organized eight private equity funds, through which it has raised $7.5 billion of committed equity capital. Over its 31-year history, Kohlberg has completed 72 platform investments and approximately 170 add-on acquisitions, with an aggregate transaction value in excess of $15 billion. For more information, please visit www.kohlberg.com.

About Cadence

Cadence Inc. is a leading supplier of advanced products, technologies and services to medical device and specialty industrial companies worldwide. Cadence develops solutions-oriented relationships with customers and provides highly technical solutions that enable improved product performance in clearly measurable ways. Cadence employs more than 475 people worldwide with its global headquarters in Staunton, VA. More information on Cadence can be found at www.cadenceinc.com.

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