CVC Capital and GTCR make joint bid to take Teleflex private

The offer is currently being evaluated by Teleflex, though sources cautioned that no deal is certain and that the company could reject the approach or attract rival interest.

Teleflex, which manufactures breathing tubes, catheters, and vascular access products for hospital intensive care units, carries a market value of roughly $5.5bn based on its most recent closing price of $124.75. Its shares surged 13.4% in after-hours trading following news of the approach.

The company has been undergoing a significant strategic overhaul, having sold three business units for $2.03bn in December, and has faced pressure from activist investor Irenic Capital Management, which criticised its board in March for its reluctance to engage with potential buyers.

CVC, Amsterdam-listed and managing approximately $241bn in assets, brings global private markets scale to the consortium. GTCR, the Chicago-based buyout firm, adds deep sector expertise, with a well-established track record in healthcare services and medical technology. Together, the two firms represent a formidable partnership for a deal of this complexity.

CVC, GTCR, and Teleflex all declined to comment. Bloomberg News first reported the firms were exploring a takeover earlier on the same day.

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