The Private Equity team advised TA Associates (“TA”) on its joint investment with Novo Holdings in Biocomposites, an international medical devices company that engineers, manufactures and markets leading products for use in infection management in bone and soft tissue. As part of the transaction TA, Biocomposites’ majority shareholder since 2017, will reinvest in Biocomposites alongside new investor Novo Holdings and Biocomposites’ management. The transaction gives TA and Novo Holdings shared control of Biocomposites. Since partnering with TA in 2017, Biocomposites has achieved significant growth – including a threefold increase in revenues, successful geographic expansion, and continued product diversification. With the new investment from Novo Holdings and the ongoing support of TA, Biocomposites aims to build on this momentum, deepening its global footprint and further advancing its pipeline of innovative products to deliver life-changing solutions at scale.
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and businesses services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has more than 160 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong.
Biocomposites is an international medical devices company that engineers, manufactures, and markets world leading products for use in infection management in bone and soft tissue. Based in Keele, UK, it has global operations across Europe, USA, Argentina, Canada, China, and India. Its products are used in over one million procedures per annum and sold in more than 100 countries around the world.
Novo Holdings is a holding and investment company that is responsible for managing the assets and wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk and Novonesis and manages an investment portfolio with a long-term return perspective. Novo Holdings invests in life science companies at all stages of development and also manages a broad portfolio of equities, bonds, real estate and infrastructure assets as well as private equity investments.
The Goodwin team was led by Arvin Abraham and included Anne Stroude, Stefania Athanassopoulou, Megan Gibson, Apsana Rai, Claire Li, Oliver Watt, Sarah Jordan, Anuj Ghai, Sophie Entwisle, Simone Waterbury, Arom Yun, Dulcie Daly, Nathan Langford, Steven Clemens, Howard Cubell, Gretchen Scott, Genevieve Watt, Curtis McCluskey, Beth Ashbridge, Jack McCarthy, Aru Goyal, Bethany Withers, Jonathan Ng, Glynn Barwick, Jacob R Osborn, Justin Pierce, Richard Matheny III, Jason Wilcox, Katerina Dee, Andy Barton, Regina Couto and Laura Quinn.
For more information on the deal, please read the press release.