CHICAGO, April 3, 2018 /PRNewswire/ -- Beecken Petty O'Keefe & Company ("BPOC"), a leading Chicago-basedprivate equity firm focused exclusively on the healthcare industry, announced today that it has entered into a definitive agreement to sell PMG Intermediate Holding Corporation, the parent company of Paragon Medical, Inc., to NN, Inc. (NASDAQ: NNBR),
Headquartered in Pierceton, Indiana, Paragon Medical creates partnerships with its customers by providing premier engineering, manufacturing, and logistics services from concept of a project to commercialization. With facilities throughout the United States, Asia, and Europe, Paragon Medical is viewed as a model of excellence for its ability to meet the critical demands of a dynamic medical device global market.
BPOC partnered with Paragon Medical in 2013, with a vision of building upon Paragon's long history of strong customer relationships and reputation for manufacturing high-quality products. Tobias "Toby" Buck, Paragon's founder, President and CEO, commented: "We are proud of what we have accomplished over the last several years and grateful for our relationship with BPOC. Our teams have worked side-by-side in the true spirit of partnership to build upon Paragon's great foundation. We sincerely appreciate all of BPOC's support, resources and guidance."
"It's been a privilege to partner with Paragon Medical over the past five years and support the Company in its pursuit of multiple growth strategies, including investments in improved manufacturing, expansion of its global footprint, and increased infrastructure development," said Dave Cooney, Managing Director of BPOC. "We are proud to have worked with the entire Paragon management team through an important phase of growth and wish them success in their next chapter of growth with their new partner, NN, Inc."
William Blair & Company is acting as the financial advisor to Paragon, and Paul Hastings is serving as the legal advisor.
About Beecken Petty O'Keefe & Company Beecken Petty O'Keefe & Company is a Chicago-based private equity management firm founded in 1996 to invest in middle-market buy-out transactions, recapitalizations, and growth platforms in the healthcare industry. BPOC has structured, managed and realized investments on behalf of institutional and individual investors for over two decades. Since inception, BPOC has raised four funds with aggregate capital commitments of over $1.4 billion.
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SOURCE Beecken Petty O'Keefe & Co.
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