WESTPORT, CT — Gemspring Capital Management LLC (“Gemspring”), a middle-market private equity firm, is pleased to announce that an affiliate has acquired a majority interest in Zavation Medical Products, LLC (“Zavation” or the “Company”).
Zavation designs and manufactures a comprehensive portfolio of spinal hardware and biologics that provide medical solutions to improve and enhance quality of life for patients around the world. The Company serves nearly 400 hospitals and ambulatory surgical centers through a network of over 300 distributors and approximately 100 employees. Since its founding in 2012, Zavation has developed into a vertically integrated manufacturer with a differentiated product portfolio and unparalleled customer service, resulting in a tremendous growth trajectory and attractive cash flow characteristics. The Company is based in Flowood, Mississippi and has an additional facility in Tampa, Florida.
Zavation’s management team, led by President and CEO Jeffrey Johnson, will continue to lead the business and made a significant investment in the Company alongside Gemspring. Jeffrey commented: “We are excited by this investment and partnership with Gemspring. We share a common focus on supporting our surgeons and distributors with high-quality products and industry-leading customer service. We believe Gemspring’s expertise, resources, and capital will help us reach the next stage of growth.”
“Jeffrey and his team have done an incredible job growing Zavation into a trusted partner for its customers,” said Don Gerne, Managing Director at Gemspring. “We are excited to invest in the Company as it continues to develop a portfolio of differentiated products that uniquely position it for continued growth. We look forward to partnering with the management team as Zavation continues to maintain exceptional customer service, expand its product portfolio, and pursue strategic acquisitions.”
About Zavation Medical Products
Based in Flowood, MS, Zavation designs, engineers, and manufactures a portfolio of spinal hardware and biologics covering key areas including cervical, thoracolumbar, interbody fusion, interventional spine, and minimally invasive surgery. Founded in 2012, Zavation has experienced exceptional growth and created a national network of 300+ distributors across 40+ states. The Company has commercialized over 15 product families since inception, with a robust product development pipeline and numerous products expected to launch in the next year. Zavation operates a 35,000 square foot vertically integrated facility in Flowood, MS and a 12,500 square foot facility in Tampa, FL. To learn more information about Zavation and the Company’s suite of products, visit www.zavation.com.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $1.1 billion of capital under management, provides flexible capital solutions to lower middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth and value creation. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors. For more information, visit www.gemspring.com.