Carlyle-backed Acrotec Group, a contract manufacturer of high precision machined applications, agreed to acquire Axial Medical, a manufacturer of high-precision components for the medical industry. Financial terms were not disclosed. "When Carlyle invested in Acrotec, we knew we had an ambitious investor and partner who would support our growth objectives, which included the expansion of our business into the large and growing Medtech sector. Axial provides the perfect entry point for Acrotec in the US-market, and we are delighted that such a high quality and complementary business is joining our family. This deal will significantly strengthen our Medtech division and open up new opportunities for further bolt-on M&A in the US,” François Billig, Acrotec Group CEO.