Manufacturing
GVS Grabs Majority Stake in Maine Manufacturing
The agreement comes after Maine agreed to buy businesses from GE's Osmonics and Healthcare and Life Sciences groups
GVS SpA acquired a majority stake in Maine Manufacturing LLC, which will allow the company to grow its business through acquisitions.
GVS made the investment as part of a new partnership. Maine Manufacturing has recently announced plans to acquire the filter and membrane business of GE Osmonics and the monitors, liquid media, Centrex and ZapCap product lines of GE Healthcare Life Sciences.
Maine Manufacturing, headquartered in Sanford, Maine, provides specialty manufacturing services for precision-molded plastic, filtration, membrane and biological technologies.
GVS develops and manufactures filtration products for the medical and automotive industries. Terms of the investment weren’t disclosed.
GVS finalized the acquisition of Fenchurch Environmental Group Ltd. in December, following the completion of the last phase of a three-stage acquisition agreement initiated in 2009. GVS acquired 64 percent of Fenchurch for cash at the outset of the process in 2009, followed by a further 18 percent through a share swap in 2010, and the remaining 18 percent in a cash transaction on Dec. 1.
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