Tecomet completes acquisition of Symmetry’s OEM business for $450m
Genstar Capital portfolio firm, Tecomet, has acquired Symmetry Medical’s original equipment manufacturing (OEM) solutions business for $450m. OEM Solutions has 2,300 employees, 450 customers, and operates 13 facilities in the UK, US, Ireland, France, and Malaysia. This acquisition will make Tecomet the largest orthopaedic contract manufacturer in the world with 18 facilities located in five countries on three continents.
Genstar Capital principal, Rob Rutledge, commented, “Original equipment manufacturers are moving more of their manufacturing out to contract manufacturers that can handle the volume and provide the systems support…..This merger provides a contract manufacturing platform paramount to anything else in the orthopaedic industry.”
