Cirtec Medical, an outsource partner for product design, development and manufacturing of medical devices, and Sanisure, a design and manufacturing company for single-use systems and parts for drug and vaccine manufacturing and other biotech applications, have acquired Q Holding‘s Precision Components division from 3i Group for approximately $172 million.
Cirtec Medical is acquiring Precision Components’ Rock Hill and Sturtevant operations and medical extrusion capabilities, which look to provide Cirtec with additional capabilities such as silicone molding, silicone extrusion and polyisoprene molding, as well as exposure into end-markets including robotic surgery. SaniSure has acquired Precision Components’ Twinsburg operations, which produces silicone tubing. The addition of the Twinsburg facility will complement SaniSure’s existing portfolio of silicone and thermoplastic tubing products.
“These transactions will enable the continued strong growth of the Precision Components operations, aligning them with highly complementary companies and teams that bring additional capabilities and enhanced solutions that will benefit their customers and patients,” says Richard Relyea, partner, 3i.