Cranial Technologies, a Portfolio Company of Cortec Group, Has Been Acquired by Beecken Petty
May 18, 2017
Cranial Technologies, Inc. (“Cranial Tech”), an industry pioneer and leading provider of cranial orthotic helmets for the treatment of plagiocephaly, or flathead syndrome, has been acquired by Beecken Petty O’Keefe & Company. Cranial Tech was acquired from its founder in 2011 by Cortec Group, a New York based private equity firm which invests in middle-market healthcare, consumer and business-to-business products and service businesses. Cain Brothers was lead financial adviser. This was the second time Cain Brothers represented the Company, having acted as advisor to Cranial Tech in its sale to Cortec in 2011.
Based in Tempe, AZ, Cranial Tech is the U.S. leader in the treatment of plagiocephaly, which typically manifests itself in infants 3 to 18 months of age. The Company’s skilled clinicians provide superior patient outcomes through a network of 37 treatment centers using a proprietary FDA-cleared cranial orthotic helmet, which is custom manufactured in-house. Cranial Tech has treated 130,000 infants since its founder invented the first cranial helmet in 1988.
Cortec Group has over 30 years of experience acquiring companies in the specialty healthcare, consumer and business products and distribution and services industries. Cortec currently manages more than $2 billion in three active funds.
Beecken Petty O’Keefe & Company is a leading Chicago-based private equity management firm founded in 1996 to invest in middle-market buy-out transactions, recapitalizations and growth platforms exclusively in the healthcare industry.