Tecomet refinances entire capital structure

Tecomet announced today that it successfully completed the refinancing of its entire capital structure.

The refinancing includes its previously outstanding ABL revolver, first-lien term loan and second-lien notes. Through this transaction, Tecomet extends the maturity of its capital structure with a new ABL revolving credit facility. It also has a six-year, privately placed first-lien term loan.

According to a news release, this transaction provides Tecomet with increased operational and financial flexibility. All obligations under the company’s prior credit agreements and notes agreement have been terminated. The company plans to discontinue public ratings as they no longer represent an obligation under the new financing structure.

“We are very pleased to have successfully completed this refinancing, which provides additional maturity runway,” Tecomet CEO Andreas Weller said. “With the closing of this transaction, we have secured…

Read more
  • 0

Tecomet appoints Andreas Weller to corner office

Andreas Weller. [Image courtesy of Charlesbank Capital Partners/Tecomet]

Contract manufacturer Tecomet announced today that it appointed Andreas Weller as its new president and CEO.

Weller succeeds former CEO and current chair of the Tecomet board, Bill Dow. Dow served as interim CEO at the manufacturer of orthopedic implants, instruments and sterilization trays since June 2022.

“The Search Committee conducted a thorough exploration, reviewing numerous profiles and interviewing many qualified candidates,” Dow said in a news release. “Andreas is the best of a select group. He has extensive experience successfully running manufacturing companies around the world. We are very pleased to welcome Andreas as the new leader of the Tecomet team.”

Wilmington, Massachusetts-based Tecomet also develops scalable manufacturing solutions for medical device technology, as well as aerospace and …

Read more
  • 0

Tecomet, Precision ADM partner on manufacturing

Tecomet announced that it entered into a strategic partnership with additive manufacturer Precision ADM.

Woburn, Massachusetts-based Tecomet’s partnership with Canada-based Precision ADM expands development and production opportunities. It will address both areas of additive and subtractive manufacturing.

Specifically, Tecomet said in a news release that it focuses on the growth of additive manufacturing across medical devices and orthopedic implants. It also covers the aerospace and defense markets.

Under the partnership, both companies can jointly leverage combined resources and expertise. This compresses customer development timelines and yields expanded capabilities and capacity for each organization.

Tecomet said the partnership allows it to offer expertise in new material areas. That includes plastics, nickel alloys, aluminum, cobalt chrome and 316 SS. It also expands capacity in titanium and 17-4 stainless steel. The partnership also …

Read more
  • 0