Carlisle Cos. Inc. is buying LHI Technology from London private equity firm 3i Partners for $195 million.

LHI, headquartered in Shenzhen, China, manufactures medical cables. When 3i bought the business in 2008, it focused mainly on patient monitoring and shifted its operations towards manufacturing cables for surgical and video endoscopy processes.

In the past six years, LHI has grown its revenue from $31 million to more than $100 million.

Charlotte, North Carolina-based Carlisle is a diversified company that manufactures and markets products for the energy, agriculture, mining, construction, aerospace, food service, health care and sanitary markets.

The deal gives 3i a 2.9x return on its investment. The firm's recent deals include a $110 million investment in A&A Manufacturing, in August, and an exit of jewelry company John Hardy in July. 

Other recent medical device deals include Intega Life Sciences Holdings Corp.'s (Nasdaq: IART) deal for medical instrument lines from Medtronic Inc. (NYSE: MDT) for $60 million in September, and Precision Engineered Products LLC's deal for Holmed, HowesTemco, Premco and Profiles.