PCE Investment Bankers, a leading financial services firm for mid-market companies, is pleased to announce the purchase of Shurmed Health (Shurmed) by Hisco, Inc. (Hisco). This transaction marks the eighth buy-side transaction engagement in which PCE has served as the financial advisor to Hisco.
Hisco, headquartered in Houston, TX, is an employee-owned, specialty distribution company serving aerospace, electronics assembly, medical device manufacturing and other industrial markets.
We remain grateful for our trusted partnership with PCE,” commented Bob Dill, President of Hisco. “PCE played a critical role in the structure and negotiations of this acquisition and we couldn’t be more pleased with the outcome.”
Dill continued, “We are particularly pleased with this transaction as Hisco gains ISO 13485 certification for medical device manufacturing as well as being FDA registered.” The acquisition allows Hisco’s Precision Converting business to extend its North American footprint to include four regional locations – ensuring true, national coverage with locally based service offerings.
“This acquisition represents a great expansion of Hisco’s converting capabilities. With ISO 13485 certification, Hisco will increase its presence in the medical sector, one of their key segments,” stated Michael Rosendahl of PCE. “In addition, the new converting operation on the east coast will allow Hisco to better serve customers across all segments of the economy. As always, we appreciate working with Hisco and value the partnership we have created.”
Based in Sarasota, Florida, Shurmed Health is an industry-leading manufacturer of specialty adhesive solutions for medical industry applications including advanced wound care, medical device fixation, patient monitoring, consumer wellness and more. Shurmed Health will operate as a subsidiary of Precision Converting, a 3M™ Preferred Converter and a division of Hisco.
Hisco's international branch network includes 35 stocking locations in three countries: the United States, HiscoMex in Mexico and HiscoCan in Canada. Hisco's Precision Converting facilities provide value-added fabrication, and its Adhesive Materials Group provides an array of custom repackaging. Hisco also offers vendor-managed inventory programs and specialized warehousing for chemical management, logistics services and cold storage. Hisco's exclusive Documented Cost Savings (DCS) program has saved customers more than $152 million to date. Its supplier base includes manufacturing giants Henkel, Alpha and 3M, to name a few. For more information, visit www.hisco.com.
Based in Sarasota Florida, Shurmed Health specializes in the manufacture, design and development of custom pressure-sensitive adhesive products for the medical device and healthcare market. Shurmed provides turnkey solutions for applications in advanced wound care, medical device fixation, patient monitoring, consumer wellness and more. For more information, visit www.shurmedhealth.com.