Leading Prosthetics Platform WillowWood Global and Management Team Have Partnered with Blue Sea CapitalDecember 7, 2021
West Palm Beach, Florida – December 2, 2021 – WillowWood Global LLC (“WillowWood,” or the “Company”), a leading designer, manufacturer and distributor of prosthetic products, today announced that it has entered into a strategic partnership with Blue Sea Capital LLC (“Blue Sea”), a growth-oriented private equity firm.
“Since partnering with Ryan Arbogast in 2019, Daniel and I have taken great pride in transforming a closely held, fourth generation family-owned business into what is today the preeminent player in prosthetic products,” said Mahesh Mansukhani, CEO of WillowWood. “Having swiftly and successfully executed our operational playbook, our partnership with Blue Sea marks an important milestone in – and testament to – WillowWood’s long-term growth trajectory.”
Daniel Rubin, COO of WillowWood, elaborated: “The Company quite intentionally selected Blue Sea as its preferred partner, based on the team’s impressive track record supporting similarly growth-oriented healthcare businesses, with both organic and acquisition-driven initiatives.”
As part of the strategic partnership, Blue Sea has made a substantial equity investment in WillowWood to accelerate its continued success.
“Having spent several years diligently tracking its journey, we are thrilled to partner with WillowWood and its exceptional management team to support their next stage of growth,” said Erin Lansky, Vice President at Blue Sea. “We’re confident they’ll continue to set the industry standard for product innovation and integrity and, as such, ‘level the playing field’ for patients worldwide.”
Added J.R. Davis, Managing Partner at Blue Sea, “Our investment signifies a shared vision with management to strategically transform the prosthetics industry. WillowWood is actively seeking acquisitions and partnerships with other prosthetic manufacturers that share our core value of securing great patient outcomes.”
In partnership with Blue Sea, Management will maintain its meaningful ownership in the Company.
“For over 115 years, WillowWood has empowered hundreds of thousands of patients within the amputee community to live more independent, active lives,” added Ryan Arbogast, the Company’s President and the great-grandson of William Arbogast, who founded WillowWood in 1907. “We’re grateful to have Blue Sea’s continued support in this pursuit.”
Piper Sandler served as exclusive financial advisor to the Company. McDermott Will & Emery provided legal counsel to Blue Sea. Madison Capital Funding LLC provided financing for the transaction.
About WillowWood Global LLC
Based in Mount Sterling, Ohio, WillowWood Global (www.willowwood.com) is an industry leading designer, manufacturer and distributor of prosthetic products, including liners, feet, vacuum systems and components. Recognized for its products’ superior innovation, quality and patient outcomes, WillowWood’s portfolio includes the Alpha® family of liners, the Koa LP™ and Meta™ families of high-activity feet, the LimbLogic® vacuum system and the OMEGA® CAD system. For over 115 years, WillowWood’s prosthetic products have helped individuals with limb loss find comfort and functionality, remain active and live life to the fullest.
Blue Sea Capital is a private equity firm based in West Palm Beach, Florida that invests in growth-oriented lower middle market companies valued up to $250 million. The firm has over $750 million in assets under management and invests across three industry verticals: aerospace & defense, healthcare and industrial growth. Blue Sea Capital’s strategy is to partner with talented managers and differentiated companies, typically as the first or second institutional investor, and deliver strategic and operational value-add that drives growth acceleration, industry outperformance and business transformation. For more information, please visit www.blueseacapital.com.