Fenner Acquires Charter Medical for $29.9 Million

Fenner Drives has snapped up Charter Medical, a manufacturer of Class I and II medical devices, for $29.9 million in cash. The Winston-Salem company, formally part of Lydall, will be integrated into Fenner’s Solesis Medical Technologies subsidiary.

Charter’s single-use devices are used in collecting, processing, storing and filter biological and bioprocessing fluids. The firm also produces biocontainers and fluid management sets for biopharmaceutical manufacturing, cell therapy and cryogenic storage.

Fenner CEO Nick Hobson said Charter’s experience in blood transfusion and filtration, as well as bioprocessing and regenerative medicine, represents a good fit with Fenner’s Advanced Engineering Products division, which includes Solesis.

All Charter’s employees were retained under the deal, Fenner said. — Kellen Owings