Audax Private Equity has acquired a majority stake in GCX Mounting Solutions.
Based in Petaluma, CA, GCX is a designer and manufacturer of healthcare-focused equipment mounting and mobility products, including branded-arms, mounts, and roll stands.
“We are very excited to be part of the Audax family and look forward to benefiting from their established history within the healthcare and medical device sector,” said Del France, chief executive officer of GCX. “The Audax model is a great fit for GCX. Our customers, suppliers, and employees stand to benefit greatly from this partnership. This enables the next stage of growth for the organization through investment in customers, products, channel, and merger & acquisition opportunities, all while retaining our core values and commitment to quality, service, and innovation.”
“GCX is a longstanding leader in the healthcare-focused mounting and mobility solutions market, celebrating 50-plus years of success underpinned by commitment to quality, service, and innovation,” said David Wong, managing director of Audax.
“We have acquired a set of products and capabilities that are best in breed, and an organization with an exceptional culture,” said Young Lee, managing director of Audax. “We believe that GCX is well positioned to execute on organic growth opportunities and complete strategic acquisitions, and we look forward to partnering with Del and the team as GCX enters is next phase of growth.”
William Blair & Co. acted as financial advisor and Orrick, Herrington & Sutcliffe served as legal counsel to GCX. Ropes & Gray LLP served as legal counsel, and Robert W. Baird & Co. and Stifel served as advisors to Audax.