M&A Deal Summary

Cirtec and SaniSure Acquire QSR - Precision Components Division

On January 31, 2023, Cirtec and SaniSure acquired plastics company QSR - Precision Components Division from QSR for 172M CAD

Acquisition Highlights
  • This is Cirtec’s 1st and SaniSure’s 1st transaction in the Plastics sector.
  • This is Cirtec’s and SaniSure’s largest (disclosed) transaction.
  • This is Cirtec’s 7th and SaniSure’s 2nd transaction in the United States.
  • This is Cirtec’s 1st and SaniSure’s 1st transaction in Ohio.

M&A Deal Summary

Date 2023-01-31
Target QSR - Precision Components Division
Sector Plastics
Buyer(s) Cirtec
SaniSure
Sellers(s) QSR
Deal Type Divestiture
Deal Value 172M CAD

Target

QSR - Precision Components Division

Pepper Pike, Ohio, United States
QSR's Precision Components Division is a provider of silicone and elastomeric molding and extrusion capabilities to the medical device and biopharma markets. QSR's Precision Components Division is based in Pepper Pike, Ohio.

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Buyer(S) 2

Buyer

Cirtec

Brooklyn Park, Minnesota, United States

Category Company
Founded 1986
Sector Medical Products
DESCRIPTION

Cirtec Medical is a provider of comprehensive medical product design and manufacturing solutions from concept through high-volume finished goods across all therapeutic categories. Cirtec Medical's technically-driven, 130-person team has particular expertise in minimally invasive systems, active and passive implants, and medical electronics. Cirtec Medical was founded in 1986 and is based in Brooklyn Park, Minnesota.


DEAL STATS #
Overall 8 of 8
Sector (Plastics) 1 of 1
Type (Divestiture) 1 of 1
State (Ohio) 1 of 1
Country (United States) 7 of 7
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-26 Cardea Catheter Innovations

San Jose, California, United States

Cardea is a medical device contract development and manufacturing organization (CMO). Cardea focus and passion lies in forming development and long term manufacturing partnerships with start-up and established device companies seeking to develop and launch new innovative technologies. Cardea was founded in 2018 and is based in San Jose, California.

Buy -
Buyer

SaniSure

Camarillo, California, United States

Category Company
Sector Life Science
DESCRIPTION

SaniSure designs and manufactures single-use systems and components for drug and vaccine manufacturing and other biotech and pharmaceutical applications. SaniSure offers a wide range of single-use technology products including sterile single-use assemblies pharmatainer bottles and carboys, mixed4sure mixing solutions, cap2v8 bottle closures, pharma-clear silicone tubing, cellgyn type tubing, assure fittings, pharma-line tubing, and many more. Sanisure has a growing global footprint of five manufacturing sites worldwide to provide customers with an unrivaled level of vertical integration and supply-chain security. SaniSure is based in Camarillo, California.


DEAL STATS #
Overall 2 of 2
Sector (Plastics) 1 of 1
Type (Divestiture) 1 of 1
State (Ohio) 1 of 1
Country (United States) 2 of 2
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 GL Engineering

East Hanover, New Jersey, United States

GL Engineering provides innovative design, prototyping, manufacturing, and installation of sterile process engineering concepts and solutions, including custom-made, single-use filling needles and thermocouple testing clamps for the pharmaceutical industry. GL Engineering is based in East Hanover, New Jersey.

Buy -

Seller(S) 1

SELLER

QSR

Pepper Pike, Ohio, United States

Category Company
Founded 1966
Sector Plastics
Employees482
DESCRIPTION

QSR is a manufacturer of tight-tolerance rubber and silicone molded components, plastic based sub-assemblies, and packaged products for companies worldwide. QSR was founded in 1966 and is based in Pepper Pike, Ohio.


DEAL STATS #
Overall 1 of 1
Sector (Plastics) 1 of 1
Type (Divestiture) 1 of 1
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-28 Degania Silicone

Emek Hayarden, Israel

Degania Silicone Ltd. is a manufacturer of medical catheters serving a global base of medical device OEM customers. Degania specializes in a wide range of intravascular catheters and medical devices in the cardiovascular and vascular, thoracic and general surgery, urology, critical care and operating rooms and enteral feeding markets.

Buy -