Katahdin Industries has sold “substantially all” of the assets of its Precision Coating business to Integer.
Integer said it paid $152 million for the privately held manufacturer, which specializes in high value surface coating technology platforms including fluoropolymer, anodic coatings, ion treatment solutions and laser processing.
“Consistent with Integer’s tuck-in acquisition strategy, the acquisition of Precision Coating increases Integer’s service offerings to include differentiated and proprietary coatings capabilities that position Integer to better meet customers’ evolving needs,” Integer said in a news release.
Precision Coating provides medtech customers with products and services to enhance the surface functionality of patient-critical products. It builds a highly specialized proprietary coatings platform for the medical technology supply chain.
The transaction closed on Jan. 7, 2025. The purchase price is “subject to adjustment for additional contingent consideration,” Integer said.
Katahdin Industries said in its own news release that Precision Coating accelerated its portfolio build, positioning and growth trajectory through five acquisitions. It bought CHN Metal Finishing (2008), Medi-Solve (2008), Boyd Coatings Research (2015), merged with N2 Biomedical (2021), and bought Providence Texture (2023).
The company added scale through a nearly 10-fold increase over that time, plus investments in data systems, automation, materials development and greenfield expansion in Costa Rica, Katahdin said. In addition to that Costa Rica location, Precision Coating also operates out of four North American sites.
Offerings include GuideLine, a proprietary fluoropolymer coating for medical devices. MicraLox, patented anodic coatings work with reusable medical instruments. The company’s IonGuard serves as an ion treatment for implants.
“We are very excited about the acquisition of Precision Coating by Integer,” said Bill Ellerkamp, president of Precision Coating. “We are proud of the strong and defensible position we’ve built in the proprietary coatings segment of the Medtech industry and the exceptional company culture we’ve created. Integer is uniquely positioned to capitalize on the strengths of our technologies and our respective cultures are well aligned. We are confident in the future of Precision Coating as part of Integer.”
