TWINSBURG, Ohio—Private equity firm 3i Group P.L.C. plans to purchase Q Holding Co. for an estimated $160 million.
A maker of precision molded rubber and silicone components, Q Holding is the parent of Qure Medical, QSR, and Quadra Tooling and Automation. It primarily serves the automotive, medical and pharmaceutical markets.
3i is a leading international investment manager based in England. It shares Q Holding's vision and “has the network to help us be a global partner to our key customers,” said Randy Ross, president and CEO of Q Holding.
“Our shared vision of ‘customer first' philosophies and 3i's unique position to help support Q's end market strategies makes 3i and ideal partner for this phase of the business,” he said.
The transaction, which is subject to standard regulatory approvals, is expected to close in mid to late December. Q Holding's management team and work force will remain with the company.