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November 5, 2013

Avante Mezzanine Partners Announces Investment in TechDevice Holdings

Los Angeles, California – Avante Mezzanine Partners announced today that it has provided unitranche debt and an equity co-investment in a refinancing transaction for TechDevice Holdings, an Inverness Graham Investments portfolio company, and to support TechDevice’s acquisition of AdvancedCath Technologies. Headquartered in Watertown, Massachusetts, TechDevice designs and manufactures highly engineered catheter and guidewire systems and related components and sub-assemblies. TechDevice works closely with many of the leading medical device OEMs as a partner in helping them develop and manufacture a range of medical devices focused on complex interventional and endosurgical procedures. AdvancedCath Technologies, based in San Jose, California, focuses on the design, development and manufacture of advanced catheters and components, and will enable TechDevice to broaden its geographic coverage and bring enhanced catheter manufacturing capabilities to its customers.

“We are very appreciative of the flexibility and responsiveness that Avante demonstrated throughout the process,” said Scott Kehoe, Managing Principal of Inverness Graham Investments. “We are happy to have them as our partner as we invest in the company to facilitate its next stage of growth.”

“We have built a strong relationship with the Inverness Graham team and are excited to partner with them once again,” said Jeri Harman, Founder and Partner of Avante. “TechDevice is an outstanding platform for advanced medical device manufacturing and is led by an impressive management team. We look forward to supporting Inverness Graham and management as they grow the business.”

“TechDevice is an excellent addition to the Avante portfolio,” said Ivelisse Simon, Principal of Avante. “The company has a long history as a preferred supplier to blue-chip medical device OEMs and the acquisition of AdvancedCath expands the company’s core competencies and customer base.”

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