HIG Picks Up Teleflex’s Marine Biz For $122M

Law360, New York (March 23, 2011, 5:51 PM EDT) -- Aiming to focus its efforts on providing medical technology products, Teleflex Inc. said Tuesday that it had agreed to sell its marine business to an affiliate of private investment firm H.I.G. Capital LLC for $121.6 million.

As part of the deal, H.I.G. will pay $101.6 million in cash proceeds, assume about $15.5 million in liabilities related to the business and offer a $4.5 million subordinated note.

Teleflex’s marine business, which has its headquarters in Litchfield, Ill., and operations across the globe, provides steering and throttle controls...
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