Johnson Matthey sells Medical Device Components business to Montagu Private Equity for $700m, completing its divestment program.
Johnson Matthey (JM) has agreed to sell its Medical Device Components (MDC) business to Montagu Private Equity for $700 million, completing JM's divestment program for Value Businesses. The MDC business produces components for medical device manufacturers, mainly focusing on precious metal alloys and nitinol, and operates in the US, Mexico, and Australia. Montagu plans to support MDC's ambitious expansion plans in collaboration with JM, and intends to use the proceeds from the sale to repay debt and return £250 million to shareholders through an on-market share buyback program.
March 20, 2024
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