RoundTable exits Vesta Funding


vestaPrivate equity firm RoundTable Healthcare Partners has exited its investment in medical devices maker Vesta Funding, which was sold to specialty chemical group Lubrizol Corp.

Vesta provides silicone molding, silicone extrusion, thermoplastic extrusion, tight tolerance silicone sheeting and medical device assembly services.

RoundTable bought a majority interest in the company in 2007 via its Fund II, which held a final close on $500m in 2005. The deal market the fourth exit from the fund.

RoundTable founding partner Joseph Damico said, “Vesta’s management team… did a tremendous job of developing state-of-the-art silicone and thermoplastic manufacturing capabilities, helping their customers to provide safe and effective medical devices that improve the lives of patients worldwide.

“We believe that Lubrizol will be a strong strategic partner for Vesta going forward, and that its expertise will benefit the company, its customers and employees.”

Back in December RoundTable exited prescription products developer Aqua Pharmaceuticals to pharmaceutical group Almirall for up to $402m.

Copyright © 2014 AltAssets