Qure Medical, which is backed by 3i, has bought UK-based Silicone Altimex, a provider of integrated elastomer solutions for medical device makers. No financial terms were disclosed.
TWINSBURG, Ohio, August 4, 2015 – Q Holding Company, d.b.a. Qure Medical, with corporate headquarters in Twinsburg, Ohio, has acquired UK-headquartered Silicone Altimex, announced Randy Ross, President and CEO of Qure Medical.
Financial terms of the agreement were not disclosed.
Qure Medical provides integrated elastomer solutions to medical device manufacturers. Silicone Altimex is one of Europe’s leading independent manufacturers of cleanroom-produced silicone tubing components and assemblies for the pharmaceutical industry.
“This transaction is an important step in realizing our global ambitions,” said Qure Medical’s Ross. “Silicone Altimex is a great fit with our business and we look forward to capitalizing on the strengths of each organization. The acquisition provides us with manufacturing facilities in Europe and will enable us to grow our overall capacity, especially in the attractive pharmaceutical and assembly business.”
Silicone Altimex, Ltd., with head offices in Nottingham, England, and a sales presence in the Netherlands and Germany, was established in 1976 as a silicone-tubing manufacturer for the UK’s domestic appliance market. Today, it is a leading supplier of products to medical, pharmaceutical and high tech companies worldwide.
“We are thrilled to join Qure Medical and I am confident that the next stage in our development will be a very exciting one,” said Chris Barker, Managing Director of Silicone Altimex. “Qure Medical brings a host of new technologies and ideas that give us the opportunity to augment our current capabilities and better serve our customers to collaborate with them to provide improved engineered solutions.”
“Qure Medical and Silicone Altimex complement each other very well,” added Ross, “with our collective strengths resulting in increased solutions for our customers and an expanded geographic presence. Furthermore, the combined operations will better position Qure Medical in the attractive European market.”
About Q Holding Company
3i-backed Q Holding is committed to providing world-class precision molded elastomeric components. Through QSR, we provide electrical management solutions to our customers in the automotive, industrial and aerospace industry. Qure Medical supplies engineered elastomeric products to the medical and pharmaceutical industry. For further information, please visit: www.qsr-inc.com and www.qure-medical.com.