Seattle, Washington | August 7, 2017 – Meridian Capital LLC (“Meridian”) is pleased to announce the acquisition of its client Viper Technologies, LLC DBA Thortex, by Avalign Technologies (“Avalign”), a portfolio company of Arlington Capital Partners (“Arlington”). Meridian served as the exclusive financial advisor to Thortex and its shareholders in the transaction with Avalign.
Thortex, established in 1990 by Kathy and Dave Walker with headquarters in Portland, Oregon, is a leading manufacturer of orthopedic implants and medical instruments. Over the past 27 years, its proprietary porous coating solutions, machining capabilities, and engineering design resources have distinguished the Company as a premier full-service supplier to top-tier medical device original equipment manufacturers (“OEMs”) worldwide. Thortex is one of the few manufacturers in the world able to provide porous coating solutions for titanium and cobalt-chrome orthopedic implants.
“The Meridian team’s expertise helped to guide Thortex through the sale process. This transition creates a new chapter in Thortex’s continued legacy as a part of the Avalign family, which will lead to many new opportunities for our customers,” said Jim Moore, Director of Operations for Thortex.
Founded in 2005 with headquarters in Bannockburn, Illinois, Avalign is a full-service precision manufacturer of implants and instruments, specialty instrumentation, cutting tools, and delivery systems to the orthopedic medical device and specialty surgical markets. Avalign offers OEM partners a broad portfolio of manufacturing solutions and extensive engineering design, development, and project management capabilities. Thortex will be integrated into Avalign’s Implants and Instruments division.
Forrest Whittaker, CEO of Avalign Technologies commented, “The combination of Avalign’s existing suite of industry leading services with the multiple proprietary technologies developed by Thortex represent a truly unique offering in the market that we are confident will drive significant additional value to both current Avalign and Thortex customer relationships.”
Brian Murphy, President and Managing Director of Meridian said, “The sale to Avalign represents a terrific outcome for the Thortex shareholders, positioning the company for continued growth with its OEM customers. There continues to be strong demand in the market for Thortex’s highly differentiated manufacturing capabilities as OEMs seek out best-in-class outsourcing partners. Arlington and Avalign will be great stewards for the business that Dave and Kathy Walker built.”