GCM, a leading outsourced manufacturer of precision components and assemblies focused on the medical technology end markets, today announced the asset acquisition of Precision Swiss Products ("PSP"), a leading provider of technical machining solutions. GCM is a portfolio company of Avista Healthcare Partners, a leading middle-market healthcare private equity firm. The terms of the transaction were not disclosed.
The acquisition of PSP is a strategic move that scales and diversifies GCM's manufacturing capabilities. PSP adds valuable content to GCM's existing customer base and provides access to new customers. Additionally, the acquisition includes a state-of-the-art manufacturing facility in North Carolina, spanning over 50,000 square feet.
Seamus Meagher, CEO of GCM, commented, "We are thrilled to welcome the talented team at PSP to the GCM family. This acquisition aligns with our strategic vision to enhance our product offerings and expand our manufacturing capabilities and capacity. PSP's legacy of technical expertise will significantly benefit our customers and drive our growth in the components and instrumentation markets."
Norbert Kozar, former CEO of PSP and new Director of Technical Sales, added, "Joining the GCM team is an exciting opportunity for us. Our combined strengths will enable us to better serve our customers and accelerate our innovation efforts. We look forward to a successful partnership and continued growth."
The acquisition of PSP assets represents GCM's first acquisition since Avista's investment in the company, and GCM is currently evaluating additional acquisition opportunities to further its strong organic growth trajectory.
