China-focused private equity firm ZQ Capital Limited sold a U.S. medical device manufacturer to buyout firm GTCR LLC for about $800 million including debt, people familiar with the matter said.
A consortium led by ZQ Capital, founded by a pair of former Barclays and JPMorgan Chase & Co. bankers, and Vivo Capital, sold Surgical Specialties Corporation TM. according to a release on Monday, which didn’t give the transaction value.
Other co-investors in the original 2017 purchase of the Massachusetts-based device maker included Aretex Capital Partners, China Orient Asset Management Corporation, Fung Shing Investment, FS KKR Capital Corp, Cathay Venture and Nan Fung Group, the release showed.
GTCR LLC, a leading private equity firm, announced that its Cole-Parmer portfolio company has acquired life sciences developer ZeptoMetrix Corporation.
The acquisition of ZeptoMetrix expands CP’s quality controls and reference standards portfolio and further establishes CP as a leading manufacturer of specialty chemistries and reagents for life sciences research and diagnostic testing. The acquisition represents CP’s second acquisition in the past year and 12th since 2014.
Dean Mihas, Managing Director at GTCR, added: “Cole-Parmer’s acquisition of ZeptoMetrix represents another great example of GTCR’s Leaders Strategy at work. The CP team has completed 12 strategic add-on acquisitions since we carved the business out of Thermo Fisher Scientific and built a unique platform within the life sciences sector.”