CVC Catalyst III, a private markets manager, acquired a majority stake in WillowWood and will become the majority investor alongside Blue Sea Capital, the Arbogast family, and WillowWood management, who are reinvesting substantially alongside CVC.
Mahesh Mansukhani and Daniel Rubin, co-CEOs of WillowWood, will continue to lead the business, and Ryan Arbogast, a fourth-generation member of the founding Arbogast family, will continue to play a key role in supporting the mission of the company.
Financial terms of the transaction were not disclosed. Closing of the transaction is subject to approval by the relevant regulatory authorities and is expected in the third quarter.
“Since partnering with the Arbogast family in 2018, Daniel and I have been proud to build WillowWood into a leader in prosthetic products. This next chapter with CVC is about accelerating what we have built, bringing new products to patients faster and expanding internationally. We are grateful to Blue Sea Capital for their support and excited for what lies ahead,” said Mansukhani.
CVC Catalyst plans to accelerate WillowWood’s next phase of growth. The partnership will invest in research and development and new product innovation, and will pursue an active mergers and acquisitions strategy to broaden the company’s offering and geographic reach. A particular priority will be expanding WillowWood’s international presence, including building a direct commercial footprint in Europe.
WillowWood was founded in 1907 by William E. Arbogast.
