GTCR invests in medical coatings products provider Biocoat

• Biocoat CEO Jim Moran will continue in his role
• Kirkland & Ellis LLP served as legal counsel and Baird served as financial advisor to GTCR
• Piper Sandler served as financial advisor to Biocoat

GTCR has made a majority investment in Biocoat, a Horsham, Pennsylvania-based provider of medical coatings products. No financial terms were disclosed.

The seller is 1315 Capital, which will retain a minority stake in Biocoat.

Going forward, the existing Biocoat management team, led by CEO Jim Moran, will continue in their existing roles.

Biocoat was founded in 1991.

“Biocoat has an excellent track record of developing high-quality biocompatible medical coatings formulations using innovative technologies, and we look forward to investing additional capital to support both organic initiatives and strategic follow-on acquisitions in the medical coatings and broader biomaterials sector,” said GTCR Managing Director Luke Marker in a statement.

Kirkland & Ellis LLP served as legal counsel and Baird served as financial advisor to GTCR. Piper Sandler served as financial advisor to Biocoat.

Founded in 1980, GTCR has invested more than $24 billion in over 270 companies, and the firm currently manages over $27 billion in equity capital. GTCR is based in Chicago.