PR90867

NEW YORK, July 27, 2021 /PRNewswire=KYODO JBN/ --

An affiliate of New Mountain Capital, LLC ("New Mountain") announced that it

has reached a definitive agreement to acquire Flexan, a leading medical device

contract design and manufacturing organization that specializes in silicone,

thermoplastic, and specialty rubber components and devices.  Flexan will be

acquired by ILC Dover, a New Mountain Capital portfolio company. The

transaction is expected to close by August 2021 subject to customary closing

conditions and regulatory approvals.

Photo - https://mma.prnewswire.com/media/1581732/ILC_Flexan_PR.jpg

Headquartered in Lincolnshire, IL, Flexan is a full-service leading contract

design and manufacturing organization specializing in high-precision silicone,

rubber, and thermoplastic components for the medical device industry. Founded

in 1946, Flexan serves many of the world's most respected medical device

companies who value Flexan's exceptional track-record, commitment to quality,

and superior execution. By partnering with ILC Dover, the combined company will

have the ability to leverage their respective expertise and capabilities to

serve a broader client base situated in both medical device and

biopharmaceutical end markets.

"Flexan's expertise in silicone molding and thermoplastic extrusion enables the

company to deliver mission-critical components and devices to medical device

manufacturers and ultimately improve patient care," said Andre Moura, Managing

Director at New Mountain Capital.  "We look forward to working closely with the

management teams at Flexan and ILC Dover to drive the next chapter of growth

and innovation across life sciences markets."

This is the second acquisition ILC Dover has completed since announcing a

partnership with New Mountain Capital in early 2020. The acquisition will

continue to grow ILC Dover's life sciences solutions for its global customer

base, including for the pharmaceutical and biopharmaceutical end markets.

Simpson Thacher & Bartlett LLP acted as legal counsel to New Mountain Capital

and Kirkland & Ellis LLP acted as legal counsel to Flexan. BNP Paribas served

as financial advisor to New Mountain Capital and Baird served as the financial

advisor to Flexan.

About New Mountain Capital:

New Mountain Capital is a New York-based investment firm that emphasizes

business building and growth, rather than debt, as it pursues long-term capital

appreciation. The firm currently manages private equity, public equity, and

credit funds with over $33 billion in assets under management. New Mountain

seeks out what it believes to be the highest quality growth leaders in

carefully selected industry sectors and then works intensively with management

to build the value of these companies. For more information on New Mountain

Capital, please visit www.newmountaincapital.com

About ILC Dover:

ILC Dover is a world-leader in the innovative design and production of

engineered flexible protective solutions for pharmaceutical and

biopharmaceutical, flood protection, personal protection, bulk packaging, and

aerospace industries. Our customers will attest to our relentless dedication to

high value products, advanced technology, and responsive service, as our

visionary solutions have improved efficiency while safeguarding people,

product, and infrastructure in hazardous conditions through flexible protective

solutions since 1947. For more information on ILC Dover, please visit

www.ilcdover.com

Disclaimer:

This press release contain statements that may constitute "forward looking

statements" including and without limitation, statements relating to product

characteristics and uses, sales potential   and target dates for product launch

, implementation of strategic initiatives, and other statements relating to our

future business developments and economic performance. While these forward

looking statements represent our judgment and future expectations concerning

the development of our business, a number of risks, uncertainties and other

factors could cause actual developments and results to differ materially from

our expectations. The company undertakes no obligation to publicly revise any

forward looking statements to reflect future events or circumstances and will

not be held liable for any use of this information.

Source - New Mountain Capital

CONTACT: For New Mountain Capital: Dana Gorman / Matthew Butler, Abernathy

MacGregor, dtg@abmac.com / msb@abmac.com, 212-371-5999; For Flexan: Mike

Huiras, mike.huiras@flexan.com, 224-543-0156