Golden Gate to Acquire Phillips-Medisize from Kohlberg & Co.
May 08, 2014
Golden Gate Capital has agreed to acquire Phillips-Medisize from Kohlberg & Company, in a deal earlier reported to be worth about $800 million. The deal concludes a bidding auction for the company, in which GTCR vied with Golden Gate. Recording annual sales of approximately $600 million, Phillips-Medisize designs and manufactures products like disposable insulin pens, glucose meters, specialty inhalation drug delivery devices, single-use surgical devices and more for the pharmaceutical, medical device, diagnostic and specialty commercial markets. It employs over 3,100 people in 19 locations worldwide. Kohlberg & Co. acquired the company's parent in 2010, later adding on Ratos' Medisize to form Phillips-Medisize.