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Golden Gate seals Phillips-Medisize buyout from Kohlberg & Co

7 May 2014

surgey-operation-medical-healthcare-doctor-patient-hospitalGolden Gate Capital has agreed a deal to buy medical device maker Phillips-Medisize from fellow private equity firm Kohlberg & Co, thought to be in the region of $800m.

AltAssets reported last week that the firm was in pole position to buy the asset having beaten off competition from other buyout houses.

Phillips-Medisize manufactured parts including surgical instruments and syringes, pumps and surgery kits.

Kohlberg bought into the business using its fifth flagship fund in 2010, before expanding it a year later by picking up Medisize Corp from Swedish private equity firm Ratos.

Phillips-Medisize has annual sales of approximately $600m according to a statement from the business.

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