Creative Foam Expands with AccuMED Acquisition
Deal News | Mar 04, 2025 | Industrial Opportunity Partner
Industrial Opportunity Partners (IOP), a private equity firm headquartered in Evanston, Illinois, has announced that its portfolio company Creative Foam Corporation has acquired the assets of AccuMED Holdings Corp. This marks Creative Foam's fourth acquisition in the medical industry, demonstrating a strategic focus on expansion within this sector. AccuMED, based in the Dominican Republic, specializes in textile-based Class I and II medical devices, employing approximately 1,400 skilled professionals in FDA registered and ISO 13485 facilities. Koen Devits, President and CEO of Creative Foam, stated that the acquisition will enhance Creative Foam's customer base and operational capabilities, particularly for clients interested in near-shoring with low-cost country manufacturing. Creative Foam is a provider of die-cut, formed foam, and multi-material component solutions across the transportation, medical, and industrial markets. Industrial Opportunity Partners, founded with over $1.5 billion of committed capital, focuses on manufacturing and value-added distribution businesses.
Sectors
- Private Equity
- Medical Device Manufacturing
- Manufacturing
Geography
- United States – Industrial Opportunity Partners and Creative Foam are based in the United States, signifying the transaction's origin.
- Dominican Republic – AccuMED operates in the Dominican Republic, indicating the geographical location of the acquired company.
Industry
- Private Equity – Industrial Opportunity Partners is a private equity firm facilitating Creative Foam's acquisition of AccuMED.
- Medical Device Manufacturing – AccuMED's specialization in textile-based Class I and II medical devices is central to this acquisition.
- Manufacturing – Creative Foam and AccuMED both operate in the manufacturing sector, focusing on value-added product solutions.
Financials
- – Terms of the transaction were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Industrial Opportunity Partners | Private Equity Firm | Company | A private equity firm with over $1.5 billion of committed capital focused on manufacturing and distribution businesses. |
| Creative Foam Corporation | Bidding Company | Company | A portfolio company of IOP, engaged in providing component solutions for various markets, including medical. |
| AccuMED Holdings Corp. | Target Company | Company | A contract manufacturer of textile-based medical devices, operating in the Dominican Republic. |