M&A Deal Summary

GTCR Acquires SurModics

On May 29, 2024, private equity firm GTCR acquired medical products company SurModics for 627M USD

Acquisition Highlights
  • This is GTCR’s 5th transaction in the Medical Products sector.
  • This is GTCR’s 9th largest (disclosed) transaction.
  • This is GTCR’s 136th transaction in the United States.
  • This is GTCR’s 2nd transaction in Minnesota.

M&A Deal Summary
Date 2024-05-29
Target SurModics
Sector Medical Products
Buyer(s) GTCR
Deal Type Going Private
Deal Value 627M USD
Advisor(s) Jefferies (Financial)
Faegre Drinker Biddle & Reath (Legal)

Target

SurModics

Eden Prairie, Minnesota, United States
SurModics provides surface modification coating technologies and in vitro diagnostic (IVD) products to the healthcare industry. Its two core businesses include: Medical Device Coatings – lubricious hydrophilic coatings, hemocompatible hydrophilic coatings, and advanced drug delivery systems; and In Vitro Diagnostics (IVD) – immunoassay reagents that improve the performance of in vitro diagnostic tests as well as custom coatings and stabilization products for Molecular Diagnostic applications. Surmodics was founded in 1979 and is based in Eden Prairie, Minnesota.

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Buyer(S) 1

Buyer

GTCR

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1980
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

GTCR is a private equity firm that typically partners with management when pursuing acquisitions. The Firm looks to grow companies through build-on acquisitions, consolidations, and internal growth. GTCR will consider both equity and mezzanine capital commitments and concentrates its investment activity in consumer products & services, healthcare services, outsourced business services, technology, transaction processing, and pharma/medical products. GTCR was formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 141 of 143
Sector (Medical Products) 5 of 5
Type (Going Private) 8 of 8
State (Minnesota) 2 of 2
Country (United States) 136 of 138
Year (2024) 2 of 4
Size (of disclosed) 9 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-25 AssetMark

Concord, California, United States

AssetMark is a provider of extensive wealth management and technology solutions that power independent financial advisers and their clients. AssetMark provides an end-to-end experience, spanning nearly all elements of an adviser’s engagement with his or her client from initial conversations to ongoing financial planning discussions, including performance reporting and billing. AssetMark is was incorporated in 1996 and is based in Concord, California.

Buy $2.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-01 TranZact

Fort Lee, New Jersey, United States

TranZact specializes in addressing consumers' insurance needs through our comprehensive direct-to-consumer marketing, sales, servicing, and technology capabilities. TranZact was founded in 1997 and is based in Fort Lee, New Jersey.

Buy $632M
Mergr

Product

Company

Legal