DTx Inc. has been sold to CONTEC
Lincoln International (“Lincoln”), a leading independent mid-market investment bank, has announced that a majority interest in DTx Inc. (“DTx” or the “Company”) has been sold to Contec Co., Ltd. (“CONTEC”) of Osaka, Japan, a publicly traded company on the Tokyo Stock Exchange (TSE:6639).
DTx is a leading provider of embedded systems for manufacturers of medical devices, industrial automation products and defense applications. The Company specializes in designing, manufacturing, maintaining and providing long-life logistics support for high reliability systems that are embedded into sensitive and regulated environments. Headquartered in Melbourne, Florida, DTx has additional sales offices in California, Wisconsin and New Jersey.
As one of the first manufacturers to put PC-based technologies to work in industrial applications, CONTEC offers industrial control technology products and services. CONTEC is a subsidiary of Daifuku Co., Ltd. (TSE:6383), headquartered in Osaka, Japan with offices and facilities in Japan, China, Taiwan and the U.S. The acquisition of DTx provides CONTEC with greater U.S. market sales, a significant presence in the medical market and customer relationships with leading medical device manufacturers. CONTEC looks to leverage DTx’s sales channels as well as manufacturing and engineering expertise to expand its sales to the global medical device sector and other markets in the U.S.
Lincoln acted as the exclusive financial advisor to DTx, working closely with the Company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the negotiation and due diligence phases of the transaction on a global basis. “Lincoln was instrumental in bringing a great strategic partner to DTx as the Company embarked on an effort to become more global in capabilities and provide the next level in product and service offerings. Lincoln had clearly invested the time and effort in knowing both parties well enough that they could recognize a perfect fit in strategic goals and bring us together when the opportunity arose. Lincoln created an environment that provided an attractive valuation for the shareholders and a strong, long-term partner for the business.” commented Randall E. Poliner, Chairman of DTx.
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