TWINSBURG, Ohio—Precision molded rubber and silicone components maker Q Holding Co. will get an opportunity to further expand its growing business in Europe and in other regions of the world under the guidance of a new owner.
Private equity firm 3i Group P.L.C., with a strong foundation in Europe and elsewhere, plans to purchase the company and its three operating businesses—Qure Medical, QSR, and Quadra Tooling and Automation—from Industrial Growth Partners for an estimated $160 million.
Both 3i and Q Holding have a common goal of expanding in a number of regions. The transaction, which is subject to standard regulatory approvals, is expected to close in mid to late December.
Q Holding President and CEO Randy Ross said the company's management team and work force of about 1,100 will remain intact. The firm operates six manufacturing facilities in the U.S. and China, selling products in more than 50 countries, and has a sales and engineering office in Germany.
He said the management team was given an opportunity to invest in the operation, “so I have an interest in the company.”
Q Holding primarily serves the automotive, medical and pharmaceutical markets with goods made by Qure Medical and QSR.