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PE firm Avista Capital Partners buys GCM Holding from May River

Private equity firm Avista Capital Holdings LP completed the acquisition of GCM Holding Corp. from May River Capital LLC, a Chicago-based private equity firm.

Financial terms of the deal were not disclosed.

Union City, Calif.-based GCM Holding manufactures high-precision components and assemblies.

Seamus Meagher will continue to serve as GCM Holding's president.

Paul Hastings LLP served as legal adviser and William Blair & Co. LLC acted as financial adviser to GCM Holding. Ropes & Gray LLP acted as legal adviser to Avista Capital Partners.

Varagon Capital Partners served as administrative agent, lead arranger and book runner on a $75 million unitranche credit facility to support Avista's acquisition of GCM.