TEAM Technologies Expands with Duke Acquisition
Deal News | Jul 07, 2025 | Arlington Capital Partners
Arlington Capital Partners, a Washington, D.C.-based private investment firm, has announced that its portfolio company, TEAM Technologies, has acquired Duke Empirical, Inc. TEAM Technologies, a leader in outsourced manufacturing of medical devices, aims to enhance its capabilities and expand its range of turnkey solutions for healthcare and MedTech OEMs. Duke Empirical, based in Morgan Hill, California, specializes in advanced cardiovascular medical devices and will complement TEAM Technologies’ offerings. The acquisition aims to further strengthen TEAM's ability to deliver scalable solutions for complex Class II/III medical devices and supports the company's growth within the fastest growing segments in the medical device market. Financial advisory was provided by Houlihan Lokey and legal advisory by Goodwin Procter LLP for the acquisition.
Sectors
- Medical Devices
- Private Equity
Geography
- United States – The article involves companies based in Washington, D.C., Knoxville, TN, and Morgan Hill, CA.
Industry
- Medical Devices – This industry is relevant as both TEAM Technologies and Duke Empirical operate in the medical device manufacturing sector.
- Private Equity – Arlington Capital Partners is a private investment firm involved in the acquisition, reflecting this industry's relevance.
Financials
- $3.8 billion – The current fund size from which Arlington Capital Partners is investing, known as Fund VI.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Arlington Capital Partners | Private Equity Firm | Company | A Washington, D.C.-based private investment firm specializing in government-regulated industries. |
| TEAM Technologies | Portfolio Company | Company | A leading end-to-end outsourced manufacturer of mission-critical medical devices. |
| Duke Empirical, Inc. | Target Company | Company | A developer and manufacturer of advanced medical devices focused on interventional cardiovascular applications. |
| Houlihan Lokey | Financial Advisor | Company | Served as the financial advisor to TEAM Technologies and Arlington Capital Partners for the acquisition. |
| Goodwin Procter LLP | Legal Advisor | Company | Provided legal advisory services to TEAM Technologies and Arlington Capital Partners. |
| Matt Altman | Managing Partner | Person | A Managing Partner at Arlington Capital Partners describing their investment approach. |
| Marshall White | President and CEO | Person | President and CEO of TEAM Technologies commenting on the strategic benefits of the acquisition. |
| Gordon Auduong | Managing Director | Person | Managing Director at Arlington Capital Partners highlighting the benefits of Duke's expertise. |