Highlander Partners Announces Sale of Pioneer Surgical Technology, Inc.
MARQUETTE, MI July 16, 2013 —- Highlander Partners, L.P., today announced the sale of its portfolio company, Marquette, Michigan-based Pioneer Surgical Technology, Inc. to Alachua, Florida based RTI Surgical, Inc. (NASDAQ: RTIX).
Pioneer, a Highlander investment since December 2006, is a nationally recognized medical technology company that manufactures and distributes metal and synthetic products in the orthopedics, biologics, spine, trauma and cardiothoracic markets. Over the course of its seven-year investment period with Pioneer, Highlander worked closely with CEO, Dan Webber, and the management team to grow the Company into an industry leader.
Bill Miller, who led the Pioneer investment effort for Highlander, stated, “Dan has done a tremendous job positioning the company for future success. This has been achieved through strong leadership, great product development and close collaboration with its customers. The company’s R&D efforts have helped create industry leading products to help it succeed in the ever-changing healthcare environment.” Since Highlander’s 2006 investment, the company has consistently increased revenue and profitability. Miller added, “We wish Dan and the team the best. Pioneer is an exceptional company and RTI will be very pleased with its acquisition.”
UBS Securities, LLC acted as exclusive financial advisor to Pioneer Surgical Technology, Inc.
About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with partners that have committed over $500 million of principal funds for direct private equity investments in North America and Central Europe. The firm focuses on making investments in middle market businesses in targeted industries in which the principals of the firm have significant operating and investing experience, including basic manufacturing, food, building materials and others. Highlander Partners uses a “buy and build” investment approach, creating value by helping companies grow organically and through acquisitions.
For more information about Highlander Partners, please visit www.highlander-partners.com.