PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the exclusive M&A advisor to Bionix Development Corporation on its recapitalization by Argosy Private Equity.
Bionix, headquartered in Toledo, Ohio, is a leading developer of innovative healthcare products for single-use ear, nasal and wound care applications, among others. Co-founded in 1984 by Drew Milligan, Ph.D., and Jim Huttner, M.D., Ph.D., Bionix produces its products in the United States and is trusted by physicians throughout the care continuum for developing premium products that set innovation, quality and performance standards. Argosy’s investment will allow Bionix’s co-founders and management team, led by President and CEO Chris Becker, to accelerate the company’s new product development and other organic and inorganic growth opportunities.
“We are greatly appreciative of the Citizens M&A Advisory team’s guidance throughout this recapitalization process, which has provided us with an ideal partner in Argosy for accelerating growth and maintaining Bionix’s proud legacy and culture in Toledo,” said Huttner, who will continue in his role as medical director and vice president of product development.
“Bionix is an exceptional medical device company,” said Andrew Male, managing director in Citizens’ healthcare M&A practice. “We are excited for our clients to be able to accelerate the Company’s growth initiatives through this partnership with Argosy and further build upon the founders’ 30-year legacy of developing innovative, premium healthcare products.”
Argosy Private Equity, founded in 1990, specializes in providing capital and operating and financial expertise to lower middle market companies across a broad range of industries. Argosy Private Equity is a division of Argosy Capital Group, Inc. (“Argosy Capital”) together with Argosy Real Estate Partners and Argosy Credit Partners. Argosy Capital is an SEC registered investment adviser with approximately $1.5 billion of assets under management. All of the Argosy Capital funds focus on lower middle market investments.
Citizens M&A Advisory specializes in middle-market mergers and acquisitions as well as later-stage financing transactions. Citizens combines sector intelligence with a client-focused approach to realize our clients’ true value. The Citizens team has closed more than 150 transactions in the last five years and has more than 60 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).
For more information, please go to the Citizens M&A Advisory website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $183.3 billion in assets as of December 31, 2020. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
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