Genstar Capital said it bought out Tecomet, a medical device OEM, for an undisclosed amount.
Genstar Capital is a private equity firm, focused on investments in technology, healthcare, and finance industries.
Wilmington, Mass.-based Tecomet makes orthopedic implants, precision surgical instruments and photochemical etched products for medical device customers. The company has been around since the 1960s and was recently a Charlesbank Capital Partners company. Genstar plans on leaving management in place, according to a press release.
“Tecomet has become a trusted partner for our customers by providing differentiated manufacturing capabilities combined with industry-leading quality and reliability. We look forward to our partnership with Genstar as we share a similar vision towards continuing Tecomet’s growth both organically and through acquisitions. Genstar has a proven track record of growing companies in the industrial and healthcare industries and we are excited to utilize their capital, expertise and network to help Tecomet accelerate its growth,” Tecomet CEO Bill Dow said in prepared remarks.