3i to divest Q Holding’s Precision Components unit to Cirtec Medical and SaniSure

• Cirtec Medical is acquiring Precision Components’ Rock Hill and Sturtevant operations and medical extrusion capabilities while SaniSure has acquired Precision Components’ Twinsburg operations, which produce silicone tubing
• 3i invested in Precision Components’ parent Q Holding in 2014
• Q Holding is a maker of precision molded rubber and silicone components

3i Group plc has agreed to sell Ohio-based Q Holding’s Precision Components division to Cirtec Medical and SaniSure. Proceeds to 3i are expected to be about $172 million.

Cirtec Medical is acquiring Precision Components’ Rock Hill and Sturtevant operations and medical extrusion capabilities while SaniSure has acquired Precision Components’ Twinsburg operations, which produce silicone tubing.

3i invested in Precision Components’ parent Q Holding in 2014.

Following this transaction, Q Holding will consist of its catheter technologies segment, which comprises the Degania, Arthesys and Biometrix brands that serve the medical device market. The segment has facilities in Israel, France, India and Slovakia.

On the sale, Richard Relyea, a partner at 3i, said in a statement, “We are proud to have partnered with Q’s leadership team to grow Precision Components into a leading global manufacturer of highly-engineered medical device components. These transactions will enable the continued strong growth of the Precision Components operations, aligning them with highly complementary companies and teams that bring additional capabilities and enhanced solutions that will benefit their customers and patients. We look forward to continuing to work with Catheter Technologies to achieve its growth initiatives.”

The transaction is expected to close in this quarter.

Q Holding is a maker of precision molded rubber and silicone components.