Gilde buys BENTEC, Hermann to scale German surgical-tools group SPI
What's the deal? Gilde HealthcareDealroom has a profile for this one. Try Dealroom → has acquired BENTEC Endoscopy GmbH and Hermann Medizintechnik GmbH through its portfolio company Surgical Precision Instruments (SPI). Baring Asset ManagementDealroom has a profile for this one. Try Dealroom → is the senior lender financing the deals, advised by Latham & WatkinsDealroom has a profile for this one. Try Dealroom →. The terms were undisclosed.
Who's who? SPI is a MedTech contract development and manufacturing firm specialising in high-precision surgical instruments and implants for global original equipment manufacturers. BENTEC makes instruments and components for minimally invasive endoscopic procedures; Hermann manufactures implant systems and custom surgical instruments.
How's it financed? Barings is backing the acquisitions through a unitranche/super-senior structure. The facilities refinance existing debt and add capacity for further acquisitions, capital expenditure, and working capital.
Why now? The two deals extend a buy-and-build run that Gilde started in 2022 with Chr. Diener, followed by Koscher & WürtzDealroom has a profile for this one. Try Dealroom → in 2023 and Rudischhauser in January 2026. BENTEC and Hermann, both added in 2026, round out SPI's endoscopy and implant capabilities.
What's the endgame? With these additions, SPI now spans seven sites and more than 500 employees, with sales approaching €100 million. The financing is built to fund more deals, signalling that the roll-up is not finished.
The signal: Private-credit lenders are increasingly underwriting serial acquisitions in specialist manufacturing, where fragmented supplier bases make consolidation attractive. Gilde's steady pace of German surgical-instrument buyouts shows how sponsors are using flexible debt to build scale in a consolidating MedTech supply chain.
Read more: news.vaquill.com
Image credit: aiva.
