BOSTON, MA – June 2015– Audax Group today announced that it has partnered with management to acquire Katena Products (“Katena”), a leading global provider of precision ophthalmic instruments and therapeutics to physician offices, hospitals, and surgical centers. Founded in 1975 and headquartered in Denville, New Jersey, Katena’s product offering includes precision surgical instruments, single-use devices, and specialty biologics that are sold into over 100 countries through a network of direct salespeople and distributors. Audax acquired Katena from Cortec Group, a private equity firm based in New York.
Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said “Katena is a recognized market leader in ophthalmology products, and is a trusted partner to physicians around the world. Its reputation for product innovation and service has been built over four decades, and we look forward to partnering with Bill Friedberg and the entire Katena team to continue growing the business organically and through strategic add-on acquisitions.”
Bill Friedberg, President/CEO, Katena Products, said “We are excited to have Audax as our new partner. Its track record of helping teams execute aggressive add-on acquisition strategies around the world will supplement our growth initiatives and enhance our ability to offer our customers the best products and service levels.”
William Blair & Company advised Katena. Kirkland & Ellis LLP served as counsel to Audax Group.
ABOUT CORTEC GROUP
Cortec acquires high value-added, middle market healthcare, consumer and specialty products, service, and distribution businesses with leadership positions in their market niches and the desire to work with Cortec to drive growth and improve business fundamentals. Cortec currently manages over $2 billion in its three active funds and targets platform acquisitions with enterprise values of $30 million to $300 million and smaller follow-on acquisitions. In May 2015 Cortec raised its sixth institutional fund with $1.1 billion in commitments. Additional information about Cortec can be found at www.cortecgroup.com.