CHICAGO — Thoma Cressey Equity Partners aims to consolidate suppliers of plastic medical components, similar to a Minnesota group that linked seven firms April 1.
``We have been looking at the sector for the past three months and want to be a consolidator,'' Daniel Richards, an associate, said by telephone.
Thoma Cressey of Chicago employs 13, completed its private equity Fund VI at $450 million in July and is recruiting an executive to back with the firm's capital, Richards said.
Richards said the domestic annual market for injection molded medical components is about $4 billion to $6 billion. Medical original equipment manufacturers demand more upfront design, tooling and processing capabilities from plastics molders, he said.
The effort is similar to one undertaken by MedSource Technologies Inc. Seven suppliers in five states formed the Plymouth, Minn., firm to integrate services to medical OEMs.