TruArc Partners, New York, New York, a private equity firm focused on the middle market, has acquired Molded Devices, Inc., Tempe, Arizona, from PNC Mezzanine Capital and Molded Devices founder Brian Anderson. Molded Devices provides high-precision, value-added plastic and rubber component manufacturing solutions for medical and non-medical applications.
Molded Devices’ core manufacturing capabilities include injection molding, tube extrusion, blow molding, dip molding and dip coating. The company also provides a range of value-added services including clean room assembly for advanced medical device production, product design and development, and engineering and tooling support – offering a full suite of solutions to its customer base.
“Within our specialty manufacturing strategy, we have been looking for opportunities with significant exposure to the growing healthcare market,” said John Pless, co-managing partner at TruArc Partners. “We believe Molded Devices, with its unique capabilities and robust customer relationships, is well-positioned to continue the momentum it has across the business, with a focus on deepening its capabilities across the medical market.”
“In this next chapter of growth, we hope to further broaden our set of manufacturing and value-added capabilities and become a market leader in servicing medical OEMs. We look forward to working with the TruArc team to leverage their experience in specialty manufacturing, sales and marketing and other strategic areas to achieve this goal,” said Jack Slinger, CEO and president of Molded Devices.
For more information, visit www.truarcpartners.com.