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Perimeter Solutions Inc. is making a bold leap into the medical technology arena, announcing late Wednesday that it will acquire Medical Manufacturing Technologies LLC (MMT) from Arcline Investment Management in a deal valued at $685 million in cash, including tax-related benefits. The agreement marks a decisive expansion for a company better known for fire safety and specialty chemicals.

A Deal Designed for Momentum

Perimeter said the transaction is expected to close in the first quarter of 2026, pending regulatory clearance. The company is leaning on advisors Nixon Peabody and Greenberg Traurig as it enters what analysts describe as one of its most strategic acquisitions yet.

Arcline—a private equity firm known for backing high-growth industrial technology businesses—issued its own announcement Thursday, naming Kirkland & Ellis LLP and Fredrikson & Byron PA as its legal counsel.

MMT: A Quiet Powerhouse in Medical Manufacturing

MMT supplies highly engineered machines, aftermarket consumables, parts, and critical services used by medical device manufacturers worldwide. The company is forecasted to bring in approximately $140 million in revenue in 2025, cementing its status as an essential supplier in a sector where precision and reliability are non-negotiable.

Perimeter said acquiring MMT enhances its strategy of owning “secularly growing, high-margin aftermarket categories,” a portfolio approach that mirrors the steady heartbeat of long-term industrial value.

Leadership Backs the Move

Perimeter CEO Haitham Khouri praised MMT as an “excellent fit,” emphasizing its expanding recurring aftermarket demand and deep bench of proprietary engineered components. The company plans to finance the transaction with $500 million in new debt and $185 million in existing cash.

Arcline’s Rapid Scaling of MMT

Since purchasing MMT in 2020, Arcline said it has “executed a disciplined strategy” to build a scaled leader in mission-critical manufacturing technologies, completing 13 targeted acquisitions and significantly expanding revenue. For Arcline, the sale marks the culmination of a focused industrial-tech growth play.

Perimeter, for its part, intends to maintain MMT’s upward trajectory through both organic growth and further M&A opportunities, Khouri confirmed.

Legal Teams and Missing Details

Kirkland’s team for Arcline includes partners Rodin M. Hai-Jew, Michael White, and William Dong. Information on the remaining deal teams was not available Thursday.