Montagu and Kohlberg acquire Teleflex in $1.5bn carve out

February 2026 | DEALFRONT | PRIVATE EQUITY & VENTURE CAPITAL

Financier Worldwide Magazine

February 2026 Issue

In a carve‑out transaction valued at $1.5bn, middle‑market private equity firms Montagu and Kohlberg are to acquire medical device manufacturer Teleflex Incorporated’s Teleflex Medical OEM business. Following completion, Teleflex Medical OEM will operate as an independent company.

For over 40 years, Teleflex Medical OEM has developed and supplied custom engineered interventional catheter components and sub‑assemblies, as well as surgical fibres and sutures, used across treatment areas including structural heart, neurovascular, electrophysiology and urology. With seven state of the art facilities across the US, Mexico and Ireland, the company leverages complex extrusion expertise and a vertically integrated operating model to support a global customer base.

Montagu and Kohlberg bring decades of experience investing in healthcare products and services. Their carve‑out and value creation expertise will help ensure Teleflex Medical OEM transitions seamlessly to independence while accelerating growth through customer expansion and investment in innovation, people and processes.

“We have followed Teleflex Medical OEM for several years, giving us real insight into the calibre of the organisation and the opportunity that lies ahead as an independent company,” said Adrien Sassi, a partner at Montagu. “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.”

Teleflex Medical OEM will operate as an independent, global contract developer and manufacturer, positioned to bring innovative solutions to market at pace with the strategic focus and flexibility to scale its model.

“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,” said Greg Stotts, president and general manager 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.”

Upon closing, Mr Stotts will become chief executive, bringing over three decades of industry experience, while Matt Jennings, operating partner at Kohlberg, will assume the role of chairman.

“Medical device companies are increasingly under pressure to optimise portfolios and consolidate supply chains to create value for patients and shareholders,” said Mr Jennings. “Teleflex Medical OEM has proven itself as a differentiated, integrated and compliant business uniquely positioned to create long‑term partnerships with customers.”

Raymond James is acting as exclusive financial adviser to Montagu and Kohlberg, with Kirkland & Ellis and Ropes & Gray serving as legal counsel. The transaction is expected to close in the second half of 2026 subject to regulatory approvals and other conditions.

Teleflex has also agreed to divest its Acute Care and Interventional Urology businesses to Intersurgical for $530m and authorised a $1bn share repurchase programme, reflecting a focus on core growth areas and shareholder returns. Analysts view these steps as part of a trend among medtech companies to simplify operations and concentrate on high‑margin segments aligned with minimally invasive procedures and advanced device technologies.

The carve‑out is expected to create significant opportunities for Teleflex Medical OEM. As an independent entity, the business will have greater flexibility to pursue targeted investments, enhance research and development, and respond rapidly to evolving customer needs. With strong demand for interventional technologies and structural heart therapies, Teleflex Medical OEM is well positioned to capture growth in these dynamic sectors.

Mr Jennings concluded: “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.”

Fraser Tennant