Action Fabricators Acquires CSI Medical

Chattanooga, TN, April 1, 2016

River Associates Investments (“River Associates”), a longstanding lower middle market private equity firm based in Chattanooga, TN, announced the acquisition of CSI Medical, Inc. (“CSI”) by its Grand Rapids, MI portfolio company Action Fabricators, Inc. (“Action”). The acquisition closed April 1, 2016. Terms of the transaction are not being disclosed.

Based in Gallatin, TN, CSI is a high-end, specialized 3M “Preferred Converter” focused primarily on custom disposable medical devices, patient monitoring and wound care products. The Company’s manufacturing capabilities include engineering, design, prototyping, materials expertise, laser die cutting, slitting, blending, filling and assembly.  CSI operates out of a 33,000 sq. ft. facility with Class 100,000 clean room capabilities and a separate 25,000 sq. ft. blending, filling and distribution facility. CSI has a team of 85 non-union employees.  Additionally, another Action subsidiary (Laminin Medical Products), including its equipment and several team members, will be relocated to CSI’s Gallatin facility, and CSI will begin to manufacture and distribute disposable and non-disposable medical and health products for Laminin.

Fred Knox, III, CEO of CSI, states, “With the resources that Action brings we have the opportunity to continue to grow the company and to be a collective leader in our industry, I am looking forward to the expansion of our products, services and capabilities, which will allow us to better serve our clients.”

Jon Rudolph, CEO of Action, states, “As part of our strategic initiative to diversify our end markets and, specifically to increase our medical business, we acquired CSI Medical.  Additionally, CSI offers a modern facility with high-end technology, a presence in the southeastern United States and the ability to incorporate our Laminin business.”  Rudolph added, “with a deep well of industry experience, top-notch leadership, a thriving workforce, and values and operating philosophy that match ours, CSI is exactly the type of company we are excited to have join our team.”