FOR INFORMATION CONTACT:
Guy Meyerhofer (715-735-4723
John Reinke (414) 291-8915
MARINETTE, Wis. – Quality Assembly and Logistics, LLC (QAL) and Generation Growth Capital Fund I, LP (GGC) today announced the acquisition of the Continuous Passive Motion (CPM) division from Otto Bock Healthcare Canada, Ltd. Located in Pickering, Ontario, the CPM division manufactures devices that are used in the post-surgical rehabilitation process of various joints including knees, ankles, shoulders, and wrists. A portfolio investment of Generation Growth, Quality Assembly & Logistics, LLC (http://www.quality-assembly-logistics.com) provides complex electro-mechanical assemblies for a number of multi-national OEM customers with a focus on medical imaging equipment. QAL also provides full restoration and refurbishment services for their customers. Within the next two months QAL plans to move the entire CPM operation into their facility located in Marinette, WI. QAL management believes the acquisition will create at least fifteen new jobs at the Marinette plant.
Guy Meyerhofer, president and owner of QAL states “the acquisition of the Otto Bock CPM division fits very well within the core competencies and strategic vision of QAL. With our strong capabilities in electro-mechanical assemblies and supply chain management, the addition of the CPM product is a direct fit for our manufacturing process.” He added, “ by allowing QAL to apply our manufacturing expertise to this product line and continuing to partner with Otto Bock for sales and distribution support, we see a bright future for the CPM product line.”
John Reinke, Director of Generation Growth Capital, believes this acquisition is a win-win for all involved. “We have reviewed many potential acquisitions for QAL over the past two years and this one was a direct fit. The CPM division provides QAL with a captive product line that is well positioned to grow with the health care needs of our aging population. It is exciting to bring new jobs to our local community by leveraging QAL’s industry reputation and competencies in medical equipment manufacturing.”
Generation Growth Capital was founded in 2007 and is a Wisconsin-based private equity fund that provides growth capital to smaller middle market companies. Additional information about Generation Growth Capital can be found at http://www.generationgrowth.com.