G Square has agreed to acquire a majority stake in Serres, a Finland-based MedTech company focused on surgical fluid management and suction solutions, as the European healthcare private equity firm looks to accelerate the business’s international growth and sustainability-driven product strategy.
Under the agreement, Paree Group, the long-standing family owner, will retain a significant minority stake and remain involved as a strategic partner. The companies said the transaction is expected to close in the first quarter of 2026, subject to customary conditions.
Serres, headquartered in Kauhajoki, Finland, traces its roots back more than 50 years and manufactures high-performance suction bags and fluid disposal solutions used in operating rooms and intensive care settings. The company said its products are used in more than 80,000 surgical procedures each day and that they are trusted by 50% of the world’s top 100 hospitals. Serres operates production facilities in Kauhajoki and Saarijärvi, which it described as among the most advanced in the field in terms of automation.
The new ownership structure is intended to support a wider growth plan that includes investment in product development, commercial scaling, and potential acquisitions. The partners said the strategy will build on Serres’ position in Europe, accelerate growth in the United States, and expand the company’s footprint in additional international markets.
G Square said it is backing Serres as demand increases for more sustainable single-use products in healthcare, positioning the company’s circularity and efficiency efforts as a key market differentiator. Serres reported turnover of EUR 38 million in 2024 and said it has more than 175 employees, serving more than 10,000 hospitals in over 50 countries through distributor partners. Paree Group reported 2024 revenue of EUR 75 million and said it employs approximately 440 people.
KEY QUOTES:
“Serres is one of the Finnish industrial success stories. After decades of continuous development, we see enormous potential ahead requiring greater international reach and resources than we could deploy alone. G Square brings deep healthcare expertise, global networks, and the financial strength needed to elevate Serres to the next level. This partnership is a natural and very positive continuation of our long-term commitment to the company.”
Kimmo Jyllilä, Chair Of The Boards, Paree Group And Serres
“Serres is an outstanding company; a true European champion in its field with world-class sustainable products and a strong culture of innovation. The company has built a unique platform with strong potential to grow globally.” “We are excited to partner with the Jyllilä family to support Serres and its management team in accelerating growth, widening international reach and strengthening Serres’ leading market position in sustainable solutions for surgery and intensive care.”
Oliver Hoenich, Partner, G Square; Yasemin Arik, Partner, G Square
“Sustainability is not just an add on for us; it is the foundation of our strategy and a major differentiator in the market, embedded across our entire value chain. The demand for sustainable single-use solutions is accelerating globally, and Serres is exceptionally well-positioned to lead this transformation. With G Square, we gain the support needed to expand faster and serve more hospitals worldwide with safe, efficient and environmentally responsible fluid management solutions.”
Nicke Svanvik, CEO, Serres
