UNION CITY, Calif., Jan. 7, 2025 /PRNewswire/ -- GCM, a leading outsourced manufacturer of precision components and assemblies focused on the medical technology end markets, today announced the asset acquisition of Precision Swiss Products ("PSP"), a leading provider of technical machining solutions. GCM is a portfolio company of Avista Healthcare Partners, a leading middle-market healthcare private equity firm. The terms of the transaction were not disclosed.

The acquisition of PSP is a strategic move that scales and diversifies GCM's manufacturing capabilities. PSP adds valuable content to GCM's existing customer base and provides access to new customers. Additionally, the acquisition includes a state-of-the-art manufacturing facility in North Carolina, spanning over 50,000 square feet.

Seamus Meagher, CEO of GCM, commented, "We are thrilled to welcome the talented team at PSP to the GCM family. This acquisition aligns with our strategic vision to enhance our product offerings and expand our manufacturing capabilities and capacity. PSP's legacy of technical expertise will significantly benefit our customers and drive our growth in the components and instrumentation markets."

Norbert Kozar, former CEO of PSP and new Director of Technical Sales, added, "Joining the GCM team is an exciting opportunity for us. Our combined strengths will enable us to better serve our customers and accelerate our innovation efforts. We look forward to a successful partnership and continued growth."

The acquisition of PSP assets represents GCM's first acquisition since Avista's investment in the company, and GCM is currently evaluating additional acquisition opportunities to further its strong organic growth trajectory.

ABOUT GCM

Headquartered in Union City, California, with additional US facilities in Chicago, Atlanta and now Wilmington, NC, GCM is a preferred supplier of complex manufacturing services to leading OEMs in medical and aerospace markets. GCM offers precision machining, fabrication and integration services as core service solutions. The company also provides value-added services to its customers including new product introduction, supply chain management and value engineering. For more information, please visit .

ABOUT PRECISION SWISS PRODUCTS

Precision Swiss Products was a leader in innovative, micro feature machining solutions for customers across a variety of industries including medical devices, aerospace and semiconductor capital equipment. PSP established a long legacy in automated manufacturing, focused on producing extremely tight tolerance components within accelerated time frames. The company maintained essential industry standard certifications, including ISO 13485, ISO 9001, AS9100D, and ITAR.

ABOUT AVISTA HEALTHCARE PARTNERS

Founded in 2005, Avista is a leading New York-based private equity firm with over $8 billion invested in more than 45 growth-oriented healthcare businesses globally. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects – targeting healthcare product and technology businesses with clear scale potential across six sub-sectors experiencing strong tailwinds. The team is supported by a group of seasoned Strategic Executives enhancing the entire investment process through strategic insight, operational oversight and senior counsel that help drive growth and performance to create long-term value and sustainable businesses. For more information, visit .

Contacts:
Daniel Yunger / William Halliday
Kekst CNC
[email protected] / [email protected]

SOURCE Avista Healthcare Partners