Nordic Capital has acquired a majority stake in Orchid Orthopedic Solutions (Holt, Mich.), a major design and manufacturing outsourcer in the orthopedic medical device space.

Financial terms of the deal – announced Jan. 21 – were not disclosed.

While the Nordic Capital Fund IX is buying a majority stake in Orchid, previous owner Altor Fund III will keep a significant minority holding.

Orchid has more than 1,500 employees working at a dozen manufacturing sites in the U.S., U.K., Switzerland and China. The company can handle everything from design through finished goods manufacturing and packaging, with technological know-how in areas including advanced machining technologies, forging and investment casting, complex instrument manufacturing, cutting instrument manufacture, plastics technology and bone ingrowth coatings, according to its LinkedIn profile.

“We are impressed by Orchid’s strong management team and attractive position in the growing orthopaedic implant market, and look forward to supporting the company through its next phase of development,” said Jonas Agnblad, partner and co-head of healthcare at the advisor to the Nordic Capital Funds.

“Orchid has a unique set of implant manufacturing capabilities across product categories, and is a true innovator simplifying and improving its customers’ supply chains,” Agnblad said in a news release. “We are fully committed to supporting Orchid’s growth strategy in close partnership with management,”

Based on the Channel Island of Jersey, Nordic Capital Funds have deployed more than 6 billion euros (equivalent to more than $7 billion) in 27 healthcare platform investments across Europe and North America since the private equity funds’ inception in 1989.