Perimeter Solutions announced that it has reached a definitive agreement to acquire Medical Manufacturing Technologies for approximately $685 million in cash, inclusive of certain tax benefits. The acquisition will add a high-growth, high-margin medical manufacturing platform to Perimeter’s portfolio and expand its presence into minimally invasive medical device production technologies.
Based in Clayton, Missouri, Perimeter said the acquisition will bring into the company a leading provider of engineered machinery, consumables, aftermarket parts, and services used in the production of minimally invasive medical devices. MMT derives nearly all of its revenue from proprietary products and generates approximately half of its business from aftermarket offerings. The company is projected to deliver about $140 million in revenue and $50 million in Adjusted EBITDA for the full year 2025.
Perimeter indicated that the acquisition aligns with its decentralized operating model and is expected to strengthen its strategy of investing in businesses that demonstrate sustainable growth characteristics. The transaction will be funded through a combination of $500 million in new secured debt and $185 million of cash on hand. Following completion, Perimeter anticipates a net leverage ratio of approximately 2.7 times net debt to combined Adjusted EBITDA for the twelve months ending September 30, 2025.
The deal is expected to close during the first quarter of 2026, pending regulatory approvals and customary closing conditions. Nixon Peabody and Greenberg Traurig served as legal advisors to Perimeter.
Perimeter will hold a conference call on December 11, 2025, at 8:30 a.m. ET to discuss the transaction. The call can be accessed via phone or webcast through the company’s investor relations website, where presentation materials and subsequent replays will also be available.
Perimeter Solutions operates globally within the Fire Safety and Specialty Products sectors.
KEY QUOTES:
“MMT is an excellent fit with our operating strategy. MMT serves a recurring and growing aftermarket, where it reliably provides highly engineered proprietary parts and consumables that are critical to zero-defect customer workflows and stringent regulatory standards. MMT has a strong track-record of organic and M&A driven growth, both of which we expect to continue.”
“We expect MMT to fit seamlessly into our decentralized operating structure, and we believe that the Company is a particularly strong fit with our Operational Value Driver focused operating strategy.”
Haitham Khouri, Chief Executive Officer, Perimeter Solutions
“MMT matches our focus on businesses in secularly growing markets with strong free cash flow, high returns on tangible capital, and durable earnings power. As a result of the transaction, we expect to have net leverage profile of approximately 2.7 times net debt to combined Adjusted EBITDA for the last twelve months ended September 30, 2025, which we believe will be well supported by the cash generation capability of our combined business.”
Kyle Sable, Chief Financial Officer, Perimeter Solutions
