Permira to unload Creganna Medical to TE Connectivity for $895M
February 03, 2016
Permira has entered into a definitive agreement to sell portfolio company Creganna Medical to TE Connectivity (NYSE: TEL) in an $895 million all-cash deal. The company manufactures medical devices with a focus on the vascular surgery market. Under Permira’s ownership since 2010, Creganna increased revenues from $131 million to $249 million. The transaction is expected to close in 2Q.