French fastener manufacturer LISI Group sold its medical division to a private U.S. investor for an undisclosed sum.

LISI MEDICAL (Neyron, France), LISI MEDICAL ORTHOPAEDICS (Caen, France), LISI MEDICAL FASTENERS (Neyron), and LISI MEDICAL REMMELE (Minneapolis, MN) have been renamed Precera Medical, with headquarters in Minneapolis.

LISI Group will become a partner in Precera Medical’s development strategy by acquiring a minority stake of 9.988% in the holding company comprising the entire acquisition by SK CAPITAL, joining the planned development project and the emergence of Precera Medical as a Contract Manufacturing and Development Organization partner for equipment manufacturers.

In addition, LISI Group will benefit from an additional payment depending on the terms of SK CAPITAL’s exit at the end of its investment.

“This transaction marks the end of an important chapter for LISI Group and the beginning of an exciting new adventure for Precera Medical,” stated LISI Group CEO Emmanuel Viellard. “I am proud of the growth we have achieved since the division was created in 2010. The long-term foundation we invested in, combined with SK CAPITAL’s industrial and financial resources, will enable Precera Medical and its teams to thrive as an independent company supporting the growth of its customers.”

LISI plans to support continued investment in capacity and expanded capabilities, both organically and through M&A.

Proceeds will be used to reduce LISI's debt, enabling the Group to focus on aerospace and automotive markets.