Wickliffe-based Lubrizol Corp. has acquired Bavaria Medizin Technologie GmbH in Germany.
Bavaria Medizin Technologie makes intravascular and nonvascular devices like drug-coated balloons, according to a news release. The company offers original equipment manufacturing services and private label manufacturing of proprietary catheters and balloons. It’s headquartered near Munich, Germany, and also has a manufacturing site in Sibiu, Romania. It has more than 100 employees.
Lubrizol has about 8,700 employees across the globe and had $6.8 billion in revenues in 2018.
The acquisition was made by Lubrizol’s German subsidiary Lubrizol Deutschland GmbH. It purchased Bavaria Medizin Technologie from majority shareholder Custos Vermögensverwaltungs GmbH and minority shareholders, the release stated. Terms of the acquisition are not being disclosed.
By Rachel Abbey McCafferty
Source: Crain’s Cleveland Business
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