January 28, 2023

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Wired for growth – Vance Street extends financial investment in Movement Dynamics with continuation fund led by Apogem Capital

LOS ANGELES, June 7, 2022 /PRNewswire/ — Vance Road Funds LLC (“Vance Avenue”), a Los Angeles based personal fairness business, nowadays announced its next solitary asset continuation fund – VSC Extended Value (EV) 2, LP (“EV2”) – backing Motion Dynamics Corporation (“Motion Dynamics” or the “Organization”), a leading company of remarkably engineered precision wire-centered components primarily for the medical system, industrial and aerospace marketplaces.

Started in 1992 and headquartered in Fruitport, Michigan, Motion Dynamics is a leading producer of wire-dependent micro-elements and sub-assemblies, which are often uncovered in micro-catheters, pacemakers and neuromodulation units. The Enterprise focuses on solutions that have to have high-quality and ultra-fine wire diameters, exclusive alloy sorts and designs, and substantial precision / limited tolerances.

Vance Avenue initially invested in Movement Dynamics in September 2016 via Vance Street Capital II, L.P. (“Fund II”). Given that partnering with Movement Dynamics, the Organization has doubled its manufacturing footprint, expanded into new and adjacent manufacturing capabilities and pursued strategic M&A, all of which have contributed to market place major growth. Chris Witham, Founder and President of Motion Dynamics, has led the Organization beneath Vance Street’s ownership and will carry on to direct the business for the duration of the upcoming section of expansion.  “We at first partnered with Vance Avenue thanks to their working experience operating with entrepreneurs and their lengthy monitor history of supporting higher-precision manufacturing firms. All through their investment time period, Vance Street has been a supportive associate and we appear forward to continuing to collaborate with the crew to capitalize on the solid foundation we have developed to additional the Firm’s development,” said Chris Witham.

EV2 was oversubscribed and is capitalized with commitments from each new and existing Vance Road LPs. Vance Road available all LPs in Fund II the option to reinvest the price of their investment.

“Movement Dynamics was an remarkable investment for Fund II, and we are fired up that Chris and the relaxation of the Movement Dynamics staff chose to partner with Vance Avenue once again. We continue being aligned in our targets on how to go after growth, add additional abilities and carry on to make upon this leading MedTech system,” additional Brian Martin, Managing Associate at Vance Street.

Vance Street partnered with Apogem Funds (“Apogem”) as the direct investor. “We tracked Motion Dynamics for some time and jumped at the chance to aid the Organization and Vance Avenue by supplying fairness and credit card debt to finish the transaction,” reported Michael Zeleniuch, Handling Companion at Apogem.

Vedder Rate LLP and Kirkland & Ellis LLP acted as lawful advisors to Movement Dynamics and Vance Street Capital LLC.  Financial debt financing for the transaction was provided by Apogem Cash, BMO Capital Markets and Northwestern Mutual. M2O Private Fund Advisors LLC acted as unique economical advisor to Vance Avenue and put the continuation fund with Apogem Capital as the lead investor.  The EV2 syndicate involved new traders to finance the transaction. Terms of the transaction had been not disclosed.

About Vance Avenue Capital LLC

Vance Avenue Capital is a middle-marketplace personal equity agency investing in highly engineered answers firms across the health care, lifestyle science, industrial, and aerospace & protection sectors. For in excess of two many years, Vance Street’s associates have worked with management groups and relatives owners to accelerate earnings development, enhance functions, and receive strategic property for the companies in their financial investment portfolio. For extra facts please take a look at: www.vancestreetcapital.com

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Perspective original written content:https://www.prnewswire.com/news-releases/wired-for-advancement—vance-street-extends-investment-in-movement-dynamics-with-continuation-fund-led-by-apogem-cash-301562902.html

Resource Vance Avenue Cash