Linden LLC

Linden Agrees to Sell Flexan to ILC Dover

July 26, 2021 | For Immediate Release

Chicago, IL (July 26, 2021) – Linden Capital Partners (“Linden”), a Chicago-based private equity firm focused exclusively on the healthcare sector, announced today an agreement to sell Flexan, LLC (“Flexan” or the “Company”) to ILC Dover LP (“ILC Dover”). Flexan, a portfolio company of Linden, is a leading outsourced manufacturer of high-precision silicone, thermoplastic, and specialty rubber components primarily for medical device original equipment manufacturers.

“Since instituting a robust value creation plan in close coordination with Linden, Flexan expanded its service lines and increased its customer base, both organically and through acquisitions,” said Jim Fitzgerald, Chief Executive Officer of Flexan. “Today, Flexan serves as a trusted partner to its clients with an end-to-end capability set.”

“During Linden’s ownership, Flexan made significant investments in the Company’s facilities, capabilities, and corporate infrastructure to position itself for long-term growth. We congratulate Jim and the management team for driving to this excellent outcome,” stated Ron Labrum, Chairman of Flexan and Linden Operating Partner.

Michael Farah, Linden Partner and Board Director of Flexan added, “Linden and Flexan’s management team partnered to create a truly differentiated outsourced manufacturing platform focused on quality and customer service. The sale of Flexan represents another successful outcome in Linden’s longstanding medical device contract manufacturing effort.”

In addition to Ron Labrum and Michael Farah, Linden Operating Partner Ernest Waaser and Managing Partner and Co-Founder Brian Miller also served on Flexan’s Board of Directors.

Robert W. Baird & Co. served as financial advisor to Flexan, and Kirkland & Ellis LLP served as legal counsel.

About Flexan
Flexan is a global manufacturer of custom, high-precision silicone, thermoplastic, and specialty rubber components for a broad array of product and industry applications, primarily used in medical devices, but also in hearing technology, miniature pneumatics, industrial controls, and aerospace & defense industries, among others. Founded in 1946, the Company has over 900 employees located across manufacturing facilities in the greater Chicago area, Salt Lake City, and Suzhou, China.

About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is one of the country’s largest dedicated healthcare private equity firms. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating experience, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested more than $2.5 billion in healthcare companies. For more information, please visit