Brown Moskowitz & Kallen, P.C. represented Wytech Industries, Inc. and its owners, the Casalino family, in connection with the sale of substantially all of its assets, including the equity in its wholly-owned subsidiaries, to Vance Street Capital LLC, a Los Angeles-based private equity firm. The transaction infuses Wytech, a leading manufacturer of specialty core wires and related components for the interventional medical markets, with significant capital for expansion.
The transaction was spearheaded by Stuart M. Brown, Managing Partner and Co-Chair of BMK’s Commercial Transactions practice. In addition to Mr. Brown the BMK team consisted of BMK Partners Frederic M. Tudor (commercial transactions, finance and technology), Keith E. Marlowe (real estate) and Michael J. Greenberg (real estate), Senior Counsel Kristina R. Brown (business, finance and technology), Counsel Jay A. Soled (tax, trusts and estates) and Counsel Emilio J. Lamanna (corporate).
With BMK acting as transaction counsel for Wytech, Mr. Brown convened a diverse team of legal specialists, including Keith E. Gilman, Managing Partner at Lerner David (intellectual property); Anthony J. Reitano, Jr., Shareholder at Herold Law, P.A. (environmental); Arthur T. Carter, Shareholder (employment) and Warren E. Fusfeld, Shareholder (benefits) of Littler Mendelsohn, P.C. JD Friedland, Managing Director of Wombat Capital Markets, LLC, acted as the investment banker to Wytech and an advisor to the Casalino family. David N. Roth, Managing Partner, CPA of RRBB Accountants & Advisors provided accounting and advisory services to Wytech and the Casalino Family.
Founded in 1975 by Anthony J. (Tony) Casalino, who was later joined by his sons Michael and Anthony, Wytech is headquartered in Rahway, New Jersey. The company designs and manufactures some of the world’s most complex specialty core wires and precision wire components for a wide range of advanced guidewires and delivery systems. Wytech’s customers include the leading medical device original equipment manufacturers (OEMs) and contract manufacturers focused on high-growth therapies in the neurovascular, peripheral vascular, and structural heart end markets. Additionally, Wytech’s Microtube Fabricators (MTF) business unit is a leading manufacturer in precision tube-based medical components and assemblies for the interventional and orthopedic end markets.
“Brown Moskowitz & Kallen has had the pleasure of representing the Casalino family and Wytech for several years,” said Stuart M. Brown. “Through a series of opportunistic transactions, we helped Wytech grow from a successful family business to one of the leading precision medical component manufacturing companies in the world. Our relationship with Wytech is emblematic of the solutions we offer to clients across a broad array of industries. We have the experience and relationships to identify and assemble a tactical professional team to execute complex transactions in a cost-effective and efficient manner, ensuring that our clients reach their enterprise goals.”
“Brown Moskowitz & Kallen provided us with practical advice and expert legal guidance at every turn of the transaction and during our entire relationship. BMK helped to ensure that the best interests of our family-owned business were realized as we sold to a private equity firm deeply experienced in medical component manufacturing,” said Mike Casalino, CEO of Wytech. “Thanks to the extraordinary care, dedication, and expert counsel from the BMK team and the additional counsel and advisory team assembled, we were able to complete a complex transaction that preserves the corporate culture we established, further elevates Wytech’s competitive position in the marketplace and represents the successful culmination of our efforts over many, many years.”
Paul Hastings LLP acted as legal advisor to Vance Street. Debt financing was provided by BMO Sponsor Finance and Madison Capital Funding LLC.
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