SK Capital Enters Exclusive Negotiations to Acquire LISI Group’s Medical Division, Signaling Strategic Expansion in Life Sciences Sector
SK Capital Partners, LP (“SK Capital”), a leading private investment firm headquartered in New York and known for its focus on the specialty materials, ingredients, and life sciences sectors, has officially entered into exclusive negotiations to acquire the Medical division of LISI Group (Euronext: FII). This strategic move, pending regulatory and legal approvals, is anticipated to close in the second half of 2025, setting the stage for a significant shift in the competitive landscape of the global medical manufacturing market.
The transaction involves the potential acquisition of Lisi Medical, a highly respected contract development and manufacturing organization (CDMO) in the MedTech space. Lisi Medical has earned a reputation as a top-tier supplier of high-precision metal components and assemblies that serve some of the world’s largest and most innovative medical device original equipment manufacturers (OEMs). The company’s extensive product offerings include surgical instruments tailored for minimally invasive and robotic-assisted procedures, as well as orthopedic implants critical to modern healthcare interventions.
The proposed acquisition marks a continuation of SK Capital’s strategy to deepen its investment portfolio in life sciences and high-value contract manufacturing. As with previous deals executed by the firm, the transaction is subject to customary conditions, including clearance by antitrust and foreign direct investment authorities, as well as consultation procedures with relevant employee representative bodies, particularly in jurisdictions such as France and the United States, where Lisi Medical has established operational footprints.
A MedTech Manufacturing Powerhouse
With four advanced manufacturing facilities—two located in Minnesota, USA, and two in France—Lisi Medical brings a highly technical and automated production infrastructure to the table. These sites specialize in precision machining, metal forging, and custom-engineered manufacturing solutions, aligning seamlessly with the requirements of global OEMs seeking reliable, quality-assured production partners.
The Company’s manufacturing capabilities extend well beyond traditional metal fabrication. Lisi Medical integrates cutting-edge automation, rigorous quality control protocols, and engineering-led design optimization—positioning itself as a true innovation partner for OEMs developing next-generation medical technologies.
Strategic Commentary from SK Capital Leadership
Josh Lieberman, Principal at SK Capital, emphasized the strategic alignment between Lisi Medical’s core competencies and SK Capital’s broader investment thesis in the life sciences sector. “We feel privileged to partner with LISI Group to acquire Lisi Medical,” Lieberman said. “The company’s deep engineering expertise and sophisticated manufacturing technologies allow it to function as a mission-critical solutions provider for leading MedTech OEMs across the globe.”
Lieberman noted that under LISI Group’s ownership, Lisi Medical had undergone significant transformation, with notable capital investments in automation, production capacity, and technological capabilities. “These foundational investments have prepared Lisi Medical to enter a new era of accelerated growth, and we look forward to working closely with the company’s management to expand its customer relationships, explore new product categories, and pursue strategic acquisitions.”
Aaron Davenport, Managing Director at SK Capital, echoed this sentiment and highlighted Lisi Medical as a prime example of the kind of asset that aligns with SK Capital’s investment strategy. “Lisi Medical’s track record of delivering highly engineered, mission-critical solutions to top-tier medical device companies makes it a natural fit for our portfolio,” Davenport said. “We have extensive experience in the CDMO space within life sciences and a long history of executing carve-out transactions that empower businesses to thrive as standalone platforms. We are confident in Lisi Medical’s potential to become a transformative asset under our stewardship.”
LISI Group’s Vision for the Transition
The transaction also represents a significant strategic decision for LISI Group. Emmanuel Viellard, CEO of the France-based industrial conglomerate, reflected on the journey of Lisi Medical within the group and expressed confidence in SK Capital’s ability to steward the business in its next chapter.
“After 14 years of strong development and manufacturing consolidation within LISI Group, we are now looking forward to partnering with SK Capital to boost Lisi Medical’s next development phase,” Viellard stated. “Their strong track record in the life sciences sector, combined with their experience operating in the French market, provides the right combination of strategic insight and financial strength to support continued growth.”
Viellard emphasized that the transaction will benefit all key stakeholders of Lisi Medical, including employees, customers, and suppliers. “With SK Capital’s support, Lisi Medical will be well-positioned to broaden its offerings, expand its operational footprint, and deepen its collaborations with global MedTech leaders. We believe this new partnership will solidify the Company’s position as a trusted, world-class manufacturing partner.”
Advisory and Financing Partners
The pending transaction is backed by a team of experienced legal and financial advisors representing both parties. For SK Capital, legal counsel is being provided by Kirkland & Ellis, a law firm with a long-standing reputation in private equity and complex transactions. Financial advisory support is being offered by a consortium that includes Piper Sandler & Co., Jefferies LLC, and Sycomore Corporate Finance.
In terms of financing, SK Capital is being supported by Partners Group, which is providing committed debt financing on behalf of its clients. Partners Group is known for backing large-scale industrial and healthcare transactions globally and brings further credibility and financial muscle to the transaction.
On the LISI Group side, Rothschild & Co. is serving as the exclusive financial advisor, while Dentons is providing legal counsel. These firms have a long history of advising multinational corporations on divestitures and restructuring initiatives.
A Broader Trend in CDMO Consolidation
This transaction also underscores a broader trend in the medical technology space: the growing demand for integrated CDMO partners that can provide full-service support for high-complexity, precision-engineered medical components. With OEMs increasingly focused on outsourcing to specialists capable of meeting rigorous regulatory, quality, and innovation demands, companies like Lisi Medical are becoming increasingly valuable.
For SK Capital, the opportunity to acquire and grow Lisi Medical reflects a deliberate approach to investing in assets that are not only financially attractive but also strategically positioned to benefit from long-term macro trends. The aging global population, rising demand for minimally invasive surgeries, and increasing technological sophistication of surgical tools all contribute to a favorable outlook for MedTech manufacturers with Lisi Medical’s capabilities.
If approved, the acquisition will position Lisi Medical for a new chapter of expansion and innovation. Under the guidance of SK Capital, the company is expected to enhance its global competitiveness, explore new therapeutic categories, and potentially enter adjacent markets through both organic initiatives and strategic acquisitions.
For SK Capital, the deal represents another bold step in building a diversified, high-performance portfolio of companies at the intersection of life sciences and advanced manufacturing.
The transaction is anticipated to close by late 2025, subject to the successful completion of all regulatory processes and consultations with employee representatives in relevant jurisdictions. As the deal moves forward, industry watchers will be closely following how this new ownership structure impacts Lisi Medical’s trajectory and the broader CDMO landscape.
