Zeus sale to private equity firm EQT closes

Zeus is officially under new ownership after private equity firm EQT closed on its acquisition of the medical tubing supplier.

“Today marks the start of a new chapter for our company, and we’re excited to share this update with you,” Zeus said in an email to “industry partners” announcing the deal’s finalization. “We believe this partnership will allow us to continue to grow and create innovative products to help our customers be successful. We remain focused on our people, our customers, and our partners.”

With the transaction’s closing, former Hillrom CEO John Groetelaars is now Zeus’ executive chair.

EQT and Zeus have not released the purchase price or other terms of the deal. Bloomberg reported in December that the deal valued Zeus at $3.4 billion, citing unidentified “people with knowledge of the matter.”

Earlier this week, EQT said their EQT X target fund hit a hard ca…

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Zeus owners are selling to private equity

The EQT X fund will become the owner of medical tubing tech provider Zeus under an agreement announced today.

Financial terms of the acquisition were not disclosed. Bloomberg reported that the deal values the company at $3.4 billion, citing “people with knowledge of the matter.”

The transaction is expected to close in Q1 2024, subject to regulatory approvals and customary closing conditions. John Groetelaars, the CEO of Hillrom until its $12.5 billion sale to Baxter in 2021, will become Zeus’ executive chair after the transaction closes.

The news comes more than two years after Zeus founder Frank Paul Tourville Sr. died at age 87. The Tourville family’s sale to EQT will enable investments in additional capacity, R&D, and operational excellence, according to Zeus and EQT.

Zeus officials expect continued growth as aging populations require more catheter-delivered structural heart, peripheral and neurovascular therapies. Read more

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