Longreach announces closing of Quasar acquisition
Tuesday, April 02, 2019
(Press Release) – The Longreach Group (“Longreach”) today announced that it has completed the acquisition of a majority interest in Quasar Engineering Limited and QIL Engineering Limited (together referred to as “Quasar” or ‘the Company”) from the founding family, with the founding family retaining a significant minority stake in the business.
Quasar is a leading contract development and manufacturing organization (“CDMO”) for blue-chip medical device companies globally and an industry leader in the development and manufacturing of complex minimally invasive cardiovascular diagnostics and therapeutic catheters as well as other high-precision medical products and healthcare related devices. The Company is headquartered in Hong Kong with manufacturing facilities in Southern China and a presence in Israel.
Longreach considers this to be an exciting investment opportunity to support Quasar, as it further develops capabilities in a high growth and important industry. The investment also reflects the Longreach core investment focus of adding value to high quality industrial businesses through enhanced business efficiencies and expansion into new growth market segments, particularly in Japan and Greater China.
