GTCR, a Chicago-based private equity firm, has made a majority investment in Biocoat Holdings LLC, a medical device contract manufacturing organization focused on customized, biocompatible hydrophilic coatings for interventional medical devices.

The company’s capabilities include developing and supplying customized coating for formulations, performing coatings application services and offering coatings equipment services. Since being founded in 1991, Biocoat has developed a customer base made up of blue-chip and medical device customers and boasts an experienced team of engineers and scientists.

“Biocoat has an excellent track record of developing high-quality biocompatible medical coatings formulations using innovative technologies, and we look forward to investing additional capital to support both organic initiatives and strategic follow-on acquisitions in the medical coatings and broader biomaterials sector,” comments Luke Marker, GTCR managing director.

Kirkland & Ellis LLP served as legal counsel and Baird served as financial advisor to GTCR. Piper Sandler served as financial advisor to Biocoat.