Stew Fisher, managing director at KRG, comments, “I would like to congratulate Dan Croteau and the entire Vention management team for their outstanding execution of the company’s growth plan, establishing Vention as a technology and supply chain leader through organic growth and strategic acquisitions. During KRG’s ownership, Vention completed eight add-on acquisitions to further develop its global design and engineering services, proprietary component technology and supply chain capabilities. We wish the team all the best with their new partners, Nordson Corporation and MedPlast.”
Vention’s president and chief executive officer, Dan Croteau, adds, “The partnership with KRG was integral in helping us drive unique customer solutions and accelerated growth through organic capital investment and add-on acquisitions. The sale of Vention marks a great outcome for our employees, customers and shareholders. Both Nordson Corporation and MedPlast have histories of acquiring great companies and making them even stronger. We thank KRG for their support and are excited about the prospects for both Vention businesses within Nordson Corporation and MedPlast.”
KRG made its initial investment in Vention Medical in May of 2008, and this sale will represent the 10th full exit in KRG’s $1.96 billion fund IV.