Generation Growth Capital has sold Quality Assembly & Logistics to QAL President and CEO Guy Meyerhofer. No financial terms were disclosed. Based in Marinette, Wisconsin, QAL is a provider of contract manufacturing services for equipment manufacturers in the medical equipment and fire suppression industries.
MILWAUKEE, WI–(Marketwired – Dec 23, 2014) – Milwaukee-based private equity fund Generation Growth Capital, Inc. (“GGC”) announced today the sale of Quality Assembly & Logistics, LLC (“QAL”). QAL was sold to company President & CEO Guy Meyerhofer. Mr. Meyerhofer partnered with GGC to buy the company in June 2009. Terms of the transaction were not disclosed.
Based in Marinette, WI, QAL is a provider of value-added contract manufacturing services and repair and refurbishment services of electromechanical parts for large original equipment manufacturers in the medical equipment and fire suppression industries. QAL offers complex electromechanical assemblies that require full functional testing capabilities before shipment.
In addition to new assemblies, QAL provides refurbishment of electromechanical parts to a field ready status that are shipped directly to healthcare facilities globally. QAL also provides continuous passive motion (“CPM”) medical devices, refurbishment services, and repair parts through its QAL Medical division.
“QAL has been a very successful investment for GGC. We wish Mr. Meyerhofer continued success in growing the company,” said Cory Nettles, Managing Director of GGC.
GGC invested in QAL in June 2009. In May 2011, GGC assisted the company in completing an add-on acquisition with the purchase of the CPM line of rehabilitation equipment from Otto Bock, a German healthcare company. The total QAL transaction will realize an approximate three times cash on cash return, and an IRR in excess of 30%.
“GGC was a great partner that helped us strategically think about growth opportunities and better manage the business,” said Guy Meyerhofer, President and Owner of QAL.
GGC is a Milwaukee-based private equity firm that invests in lower middle market companies. It also has an office in Chicago, IL. GGC does growth and buyout investments in control and non-control situations. GGC focuses on companies with sales in the $5mm to $50mm range and enterprise values under $30mm. For more information, please visit www.generationgrowth.com or call 414-291-8908.