#USA #GCM #Precision Swiss Products #Avista Healthcare #Union City

GCM Expands Its Product Portfolio with Acquisition of Precision Swiss Products

In a significant move within the medical technology sector, GCM, a premier outsourced manufacturer of precision components and assemblies, has officially acquired the assets of Precision Swiss Products (PSP). This acquisition aims to bolster GCM's product offerings and expand its manufacturing capabilities, specifically tailored to meet the needs of the medical market.

The announcement, made on January 7, 2025, reveals that this strategic acquisition aligns with GCM’s broader ambitions to enhance its manufacturing operations. GCM, which is a portfolio company of Avista Healthcare Partners, expressed enthusiasm about integrating PSP's advanced technical machining solutions into its existing framework. The exact financial details of the transaction have not been disclosed, but the implications for both companies are substantial.

Seamus Meagher, the CEO of GCM, shared his excitement in welcoming the talented team from PSP. He noted that the acquisition perfectly aligns with GCM's strategic vision of improving its product offerings while simultaneously expanding manufacturing capabilities and capacity. PSP’s reputation for technical expertise in machining is expected to drive growth and better serve customers within the components and instrumentation sectors.

GCM’s acquisition of PSP is also marked by the addition of a cutting-edge manufacturing facility located in North Carolina, which spans over 50,000 square feet. This facility will bolster GCM's operational capabilities significantly while providing a platform for innovation and increased production potential.

The former CEO of PSP, Norbert Kozar, who will now serve as the Director of Technical Sales at GCM, described the opportunity as a thrilling venture. The collaboration of their strengths is anticipated to enhance customer service and expedite innovation efforts, thus fostering a prosperous partnership moving forward.

This acquisition sets the stage for GCM's growth trajectory, establishing a new benchmark for the scale and diversity of its manufacturing capabilities. Additionally, the company is proactively exploring further acquisition opportunities to complement its organic growth and expand its reach in the industry.

About GCM

Headquartered in Union City, California, GCM operates additional facilities in Chicago, Atlanta, and Wilmington, NC. The company is recognized as a trusted supplier of complex manufacturing services, particularly focusing on the medical and aerospace sectors. GCM's comprehensive service offerings include precision machining, fabrication, and integration, alongside vital support services like new product introductions, supply chain management, and value engineering.

About Precision Swiss Products

PSP is acclaimed for its innovative micro-feature machining solutions, serving diverse industries such as medical devices, aerospace, and semiconductor capital equipment. With a strong emphasis on automated manufacturing, PSP has built a longstanding reputation for producing high-tolerance components within compressed timelines. The company upholds critical industry certifications, including ISO 13485, ISO 9001, AS9100D, and ITAR, demonstrating its commitment to quality and compliance in its operations.

About Avista Healthcare Partners

Founded in 2005, Avista is a prominent private equity firm based in New York, managing investments of over $8 billion across more than 45 healthcare-focused growth businesses globally. Avista seeks to partner with companies characterized by robust management teams and significant growth potential, particularly targeting healthcare products and technologies experiencing strong market tailwinds.

The acquisition of precision Swiss Products by GCM holds substantial promise for both companies, paving the way for innovation and enhanced service delivery within the medical technology landscape. The partnership heralds a new chapter of success and growth in an industry ripe for transformation.