NEW YORK--(BUSINESS WIRE)--TruArc Partners, a private equity firm focused on the middle-market, announced today that it has acquired Molded Devices, Inc., 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.”
“We have built a phenomenal business and today operate with more scale than ever. 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.
Jack Slinger will continue in his role with the company and Molded Devices founder Brian Anderson will remain as a key member of the board. Gregg Tobin, an Advisor to TruArc, will join as Executive Chairman. Jay Twombly, an Operating Partner at TruArc, will also join as a member of the board.
William Blair served as financial advisor to TruArc Partners, and Piper Sandler served as the financial advisor to Molded Devices. Davis Polk acted as legal counsel to TruArc Partners and Dentons Cohen & Grigsby P.C. acted as legal counsel to Molded Devices.
About Molded Devices, Inc.
Molded Devices, Inc. produces various complex injection components used in medical devices, aerospace, industrial applications, and energy production applications. Headquartered in Tempe, AZ, the company has dedicated production facilities across the United States, Mexico, China, and Canada. To learn more about Molded Devices visit www.moldeddevices.com.
About TruArc Partners
TruArc Partners is a private equity firm focused on middle-market control investments. TruArc focuses on companies in attractive sub-sectors across specialty manufacturing and business services. The TruArc investment team collaborates with its operating partners and portfolio management teams to create value through a transformational growth strategy led by organic or acquisition-driven growth. To learn more about TruArc visit www.truarcpartners.com.
