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.