Avista Acquires GCM, an Outsourced Medical Component Manufacturer

Avista Capital Partners, a private equity firm focused on growth-oriented healthcare businesses, and May River Capital, LLC, an investor in lower middle-market industrial growth businesses, announced that Avista has acquired GCM Holding Corporation from May River.
 
Based in Silicon Valley, GCM is an outsourced manufacturer of high-precision components and assemblies, providing an integrated platform of manufacturing solutions primarily for the medtech industry, as well as select Diversified Industrial end markets. Within medtech, the company manufactures products for high-growth segments such as robotic-assisted surgery, radiotherapy, diagnostic technology, and other vital equipment.
 
GCM maintains strong and long-tenured relationships with many market-leading OEMs who value the company’s strong capabilities in highly engineered and difficult to manufacture precision components. The company operates three manufacturing facilities in Silicon Valley, Chicago, and Dongguan, China.
 
Seamus Meagher, who has been with the company for nearly two decades, will continue to serve as GCM’s President.
 
Meagher said: “Our focus at GCM is to provide leading OEMs with unique manufacturing capabilities for critical products executed with superior supply-chain performance. We are very grateful to the May River team and are thrilled to be joining forces with our new partner Avista. Together, we will drive a new chapter of growth for GCM that will continue to benefit our valued customers, talented employees, and other stakeholders.”
 
Rob Girardi, a Partner at Avista, said: “GCM represents a highly attractive opportunity to acquire a leading outsourced component manufacturer serving the growing MedTech industry, with deep customer relationships. We are excited to partner with Seamus and the entire GCM team as the company makes significant investments to further position itself for robust growth.”
 
Dan Barlow, a Partner at May River Capital, said: “We are very proud that we were able to preserve and build upon the legacy of GCM’s founders, leading significant investments in human capital, systems and operational capacity during our ownership and positioning the company well for the next stage of its journey. We are also proud that the business and team are in excellent hands going forward with Avista—a collaborative partner who recognizes and values the unique attributes and long-term sustainability of the company.”
 
Avista’s legal advisor is Ropes & Gray LLP. GCM’s financial advisor is William Blair & Company. GCM’s legal advisor is Paul Hastings LLP.