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Avista Capital Acquires MedTech Component Manufacturer GCM from May River
Tuesday 10 September 2019

10 September 2019 - New York, US-based private equity firm Avista Capital Partners, focussed on growth-oriented healthcare businesses has acquired California, US-based medtech component manufacturer GCM Holding Corp. from investor May River Capital, LLC, the company said.

Terms of the transaction were not disclosed.

GCM said it is focussed on providing OEMs with manufacturing capabilities for critical products through its supply-chain. With Avista, it anticipates driving a new chapter of growth for GCM.

May River Capital is a Chicago-based private equity firm focussed on investing in lower middle market industrial growth companies. May River Capital invests in precision manufacturing, engineered products, specialised industrial services, and value-added industrial distribution services.

GCM is an outsourced manufacturer of high-precision components and assemblies, providing an integrated platform of manufacturing solutions primarily for the MedTech industry, as well as select Diversified Industrial end markets.

Within MedTech, the company manufactures products for high-growth segments such as robotic assisted surgery, radiotherapy, diagnostic technology, and other vital equipment.

Avista Capital has over USD 6bn invested in more than 35 growth-oriented healthcare businesses globally.

Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects investing in the medical devices and technologies, pharmaceuticals, outsourced pharmaceutical services, distribution and consumer-driven healthcare sectors.

Avista's legal advisor is Ropes and Gray LLP. GCM's financial advisor is William Blair and Company. GCM's legal advisor is Paul Hastings LLP.
Date Published: 10/09/2019
Target: GCM Holding Corp
Country: USA
Sector: Healthcare
Type: LBO
Status: Closed
Vendor: May River Capital
Buyer: Avista Capital Partners
Buyer Advisor: Ropes and Gray , William Blair and Company
Terms of the deal were not disclosed