Autocam Medical Acquires Southeastern Technology Inc.

Autocam Medical Devices LLC has completed its cash acquisition of Murfreesboro, Tenn.-based Southeastern Technology Inc. (SET). Autocam Medical and Southeastern Technology are contract manufacturers of precision-machined components, assemblies and engineered solutions primarily focused on serving original equipment manufacturers in the medical device industry.

SET serves the orthopedic and spine markets with precision implants and complex instruments. They also machine precision components for other medical applications such as oncology and dental. Autocam Medical was advised on the transaction by Plante Moran.

Projected 2015 sales of the newly combined companies will total approximately $100 million, according to Autocam Medical officials.The new purchase will operate under Autocam Medical as the Southeastern Technology division, and all employees will be retained.

“With the addition of Southeastern Technology, Autocam Medical gains a new strategic regional presence and key customer relationships,” said John Kennedy, founder and CEO of Autocam Medical, “We also gain exceptional talent and technology.”

“SET has a highly competent and engaged team with an excellent reputation for technical and engineering expertise, quality, value, and customer service. We don’t anticipate any changes in SET operations beyond enhancing some IT infrastructure and certain business systems. We’re excited to bring SET aboard and we have high expectations for our future,” added Kennedy.

Lonnie Butner, vice president of operations at Southeastern Technology said: “The combination of Autocam Medical and SET’s manufacturing technologies will provide our customers with a single-source solution to manage entire implant and instrument platforms.”

“As with all important business decisions,” Butner added, “we will work closely with our clients, partners, and employees to make the integration process as smooth as possible. Our customers will continue to receive the same high quality service they have come to expect.”

Autocam Medical is headquartered in Grand Rapids, Mich., and specializes in orthopedic and spine implants and instruments, surgical handpieces, and other components for ophthalmology and diagnostics markets. The company operates in four facilities across North and South America, including Massachusetts, California and Brazil.