TA Associates-backed Elos Medtech completed the acquisition of Klingel Medical from IK Partners for €370m.

TA Associates-backed Elos Medtech, a development and manufacturing partner for medical devices, completed the acquisition of Klingel Medical Group, a manufacturer of metal products for medical technology, from IK Partners, a European private equity firm, for €370m. “Elos is the exact image of Klingel. The focus is on the same values such as down-to-earthness, short decision-making paths, sustainable growth, and securing jobs for employees. I am pleased that we have arrived in a safe harbor together, combining our strengths for a great future with the new company," Ralf Petrawitz, Klingel Co-CEO.