Device manufacturer Phillips-Medisize has announced that it will be acquired by Golden Gate Capital for an undisclosed amount. According to the announcement, Matt Jennings will remain as President and CEO, and the company will keep its headquarters in Wisconsin. The company, which offers design and manufacturing services for medical devices, including inhalers, has nine facilities in North America, five in Europe, and one in China.
Jennings commented, “We are excited to partner with Golden Gate Capital, who is fully aligned with our long-term strategic plan and shares our deep-rooted commitment to providing customers with innovative, high-quality and cost-effective solutions with world-class service. Golden Gate’s financial support, successful track record of backing manufacturing companies and deep industry relationships will help perpetuate the Company’s strong momentum and further solidify our market-leading position. We look forward to working with our new partners as we continue to successfully execute our strategy.”
Golden Gate Capital Managing Director Rajeev Amara said, “Phillips-Medisize represents a terrific opportunity to invest in a strong design and manufacturing service platform with global scale and a proven track record of delivering an exceptionally broad and deep set of capabilities to its customers. The Company is well-positioned to grow and succeed in the rapidly expanding medical outsourcing market and Golden Gate Capital is committed to investing in the Company to support the next phase of its growth. We look forward to partnering with Matt and the talented Phillips-Medisize team to support their vision for the business.”
Read the Philips-Medisize press release.
