Dive Brief:
- Zeus, a privately held manufacturer of components for medical devices, is considering a sale that could value the company at $4 billion or more, Reuters reported on Monday.
- Orangeburg, South Carolina-based Zeus makes polymer tubing used in catheters and other medical products.
- The company is in the early stages of a sale process and could also decide not to move forward, Reuters reported, citing people familiar with the matter.
Dive Insight:
Zeus is currently owned by the family of founder Frank P. Tourville Sr., who started the company in 1966. The firm is expected to attract interest from both private equity firms and strategic buyers, and could be valued at $4 billion or more, including debt, the sources told Reuters. The company’s 12-month earnings before interest, taxes, depreciation and amortization are nearly $200 million, according to the report.
Zeus has expanded its catheter manufacturing footprint in recent years, including building a facility in San Jose, California, and another more recently in Arden Hills, Minnesota. The company also bought contract manufacturer CathX Medical in 2021 for an undisclosed amount.
As of early September, Zeus had more than 2,200 employees across South Carolina, New Jersey, Tennessee, California, Minnesota, China and Ireland.
Zeus did not respond to requests for comment at the time of publication.