Sonoma County medical technology maker GCX acquired by private equity firm Audax

In its 50th year of operation, GCX Mounting Solutions, a manufacturer of device racks, caster racks and trolleys used in hospitals and clinics around the world, was acquired.

The Petaluma-based company has sold a majority stake to Audax Private Equity, it was announced on Monday. Terms of the deal were not disclosed.

GCX designs and produces branded equipment that is sold to original equipment manufacturers of medical devices and directly to hospitals. It employs more than 330 people around the world.

Audax has a well-established history in the healthcare and medical device industry, according to Del France, CEO of GCX.

“The Audax model is a perfect fit for GCX,” he said in the press release. “Our customers, suppliers and employees will benefit greatly from this partnership. This enables the next stage of organizational growth through investments in customers, products, channels and M&A opportunities, while maintaining our core values ​​and commitment to quality, service and innovation.

Audax sought out GCX for its products, capabilities and “exceptional culture”.

“We believe GCX is well positioned to seize organic growth opportunities and make strategic acquisitions, and we look forward to partnering with Del and the team as GCX enters its next phase of growth,” said Young Lee, Managing Director.

Audax Private Equity has offices in Boston, New York and San Francisco. Launched in 1999, Audax has raised more than $ 30 billion for its private equity and private debt activities. It has invested more than $ 7 billion in more than 140 “platform” organizations and more than 1,000 additional separate companies. He is currently investing in a sixth private equity fund of $ 3.5 billion.

GCX started in 1971 at a garage in Foster City after co-founder Gary Gilbert developed a system to allow better positioning and protection of heavy televisions in patient rooms, according to the company site. This led the following year to the release of a vertical wall rail system that made it easier for these TVs to descend for maintenance.

In the mid-1970s, the company’s orders took off thanks to a partnership with a Hewlett-Packard. It began to manufacture stands for patient monitors, medical devices, and computer equipment such as computers.

The company grew by moving to Novato in 1983 and then again in 1996 when it moved to its current 65,000 square foot headquarters and plant in Petaluma.

When the company moved to North Bay it was making less than a dozen products, but now it manufactures about 4,000.

Eight years ago, GCX opened an additional manufacturing facility in El Paso, Texas. In recent years, the company has opened factories in Taiwan, Japan and the Netherlands for Asian and European markets.

About Marco C. Nichols

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