Montagu Private Equity, a European private equity firm with headquarters in London, agreed to acquire the medical device components business of Johnson Matthey, an international speciality chemicals company, for £550m. "Today's announcement represents a significant milestone in our disposals programme announced in May 2022. As a JM business, MDC has delivered technological differentiation and good growth to the critical health sector. We welcome Montagu's plans to continue the investment and growth plans at MDC. We are pleased that this concludes our Value Businesses disposal programme which will deliver benefits to JM shareholders in terms of value realisation, simplification and increased focus on our growth businesses, where JM has a proven ability to win," Liam Condon, Johnson Matthey Chief Executive.