Montagu and Kohlberg, two leading middle-market private equity firms, today announced that they have entered into a definitive agreement to acquire Teleflex Medical OEM (the “Company”) from Teleflex Incorporated (NYSE: TFX) for $1.5 billion in a carve-out transaction.
For over 40 years, Teleflex Medical OEM has developed and supplied custom-engineered interventional catheter components and sub-assemblies, as well as surgical fibers and sutures, used across fast-growing treatment areas – including structural heart, neurovascular, electrophysiology and urology – that rely on advanced materials and precision manufacturing to improve surgical outcomes and patients’ lives. With seven state-of-the-art facilities across the U.S., Mexico, and Ireland, the Company leverages its complex extrusion expertise, breadth of offering, and vertically integrated operating model to support a blue-chip customer base of medical device companies worldwide.
Following the closing of the transaction, which is expected in the second half of 2026 subject to customary regulatory approvals and other closing conditions, the Company will operate as an independent, global contract developer and manufacturer ideally positioned to bring innovative solutions to market at pace, with the strategic focus and operational flexibility to scale its model. Greg Stotts, who joined Teleflex in 2006 and currently serves as the Company’s President and General Manager, will become Chief Executive Officer of the Company at that time, bringing over three decades of industry sales, marketing, sales operations, and manufacturing experience to his new role.
Mr. Stotts said: “This is a momentous milestone for our team and our customers, and we are excited to work with the Montagu and Kohlberg team to shape the future of Teleflex Medical OEM. As a focused, independent company backed by experienced healthcare investors, we will accelerate investment in innovation, quality systems and capacity while continuing to deliver the reliability and engineering depth our customers expect.”
Montagu and Kohlberg bring leading track records with decades of experience investing in healthcare products and services. The firms’ complementary carve-out and value creation expertise will help to ensure Teleflex Medical OEM seamlessly transitions to an independent company while accelerating its growth by expanding its customer base, investing in innovation, people, processes and capabilities.
Adrien Sassi, Partner at Montagu, added: “We have followed Teleflex Medical OEM for several years, giving us real insight into the caliber of the organization and the opportunity that lies ahead as an independent company. Over the last decade, Teleflex Medical OEM has built a reputation as a leading strategic supplier in the global medtech value chain, known for its engineering support, reliability, and quality. Working with Kohlberg, we look forward to leveraging our carve-out expertise, built through decades of transaction experience, and our strong track record in driving growth acceleration in medical device platforms, to support Greg and his team in unlocking the full potential of the company.”
Matt Jennings, Operating Partner at Kohlberg, will assume the role of Chairman of the Company upon closing of the transaction. Mr. Jennings commented: “Medical device companies are increasingly under pressure to optimize their portfolios and consolidate supply chains to create value for their patients and shareholders. Teleflex Medical OEM has proven itself as a differentiated, integrated, and compliant business uniquely positioned to create long-term mutually beneficial contract development and manufacturing partnerships with customers. We look forward to supporting Greg and the entire Teleflex Medical OEM team to create a bright future for all Company stakeholders as the business scales.”
“Teleflex Medical OEM is an exceptional platform trusted by its customers for its quality, service and delivery,” added Chris Anderson, Senior Partner of Kohlberg. “The Company is ideally suited to benefit from Kohlberg’s expertise supporting market-leading healthcare platforms, drawing on our deep network of operating executives and our ecosystem of investments and industry relationships. We look forward to working with our partners at Montagu, and together we are confident that Teleflex Medical OEM will thrive as a standalone platform focused on delivering maximum value to its customers.”
Raymond James acted as exclusive financial advisor, and Kirkland & Ellis and Ropes & Gray served as legal counsels to Montagu and Kohlberg.