We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.
The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ...
Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.
Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.
WILMINGTON, Mass. – Tecomet Inc., a Genstar Capital portfolio company and precision contract manufacturer supporting the medical device and aerospace industries, today announced that it has signed a definitive agreement with Symmetry Medical Inc. (NYSE: SMA) to acquire its OEM Solutions business segment for $450 million.
Headquartered in Warsaw, Indiana, OEM Solutions manufactures high precision surgical instruments, orthopedic implants, and plastic and metal sterilization cases and trays, selling its products to global medical device OEMs. OEM Solutions has over 450 customers, nearly 2,300 employees and 13 facilities in the U.S., the U.K., Ireland, France and Malaysia.
Bill Dow, Chief Executive Officer of Tecomet, said, “The combination of Tecomet and OEM Solutions creates a contract manufacturing enterprise that is capable of meeting the growing needs of our customers. OEM Solutions will not only extend the capabilities we offer but also our global reach. Our experienced and successful Tecomet team looks forward to working with OEM Solutions’ strong management crew and workforce to offer exceptional products, services and capabilities to the industries we serve.”
Rob Rutledge, who leads Genstar’s industrial technology vertical said, “OEM Solutions and Tecomet share a reputation for providing world-class products for their customers’ most demanding medical device applications. Genstar is excited to be supporting Tecomet in this combination of two great companies in the contract manufacturing industry, and believes the combined company will provide its customers with an enhanced set of capabilities.”
The transaction is expected to be completed in the fourth quarter and is subject to customary closing and regulatory approvals.
UBS Investment Bank is acting as exclusive financial advisor and Weil, Gotshal & Manges LLP is acting as legal advisor to Tecomet in connection with the transaction.
Founded in 1964 and based in Wilmington, MA, Tecomet manufactures orthopedic implants, precision surgical instruments, trauma plates and photochemical etched products for medical device customers. Tecomet uses its industry-leading prototyping and engineering capabilities to produce highly complex products that provide innovative solutions for its customers’ most demanding products and applications. Tecomet is also a leading manufacturer of precision components to the aerospace & defense industry, producing products used in missile & satellite propulsion systems, vision systems, and infrared applications. For more information about Tecomet, please visit www.tecomet.com.
Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages approximately $3 billion of committed capital and targets investments focused on selected sectors within the industrial technology, financial services, software, and healthcare industries.
###
Chris Tofalli
Chris Tofalli Public Relations
914-834-4334
