Value Plastics Inc. broadened its medical offerings by acquiring the double-check valve product line from Wolfe Tory Medical Inc. Terms were not disclosed.
``These sorts of products are specified into the same kinds of applications as our current product offerings,'' said Bruce Williams, president and chief executive officer of Fort Collins, Colo.-based Value Plastics.
``We have done Ts and Ys and elbows, but as we continue to grow, customers are looking for check valves.''
While relatively small in terms of revenue, the Dec. 10 transaction is the first acquisition for Value Plastics since its founding in 1968.
``We are keeping our eyes open for opportunities,'' although no other deals are pending, Williams said.
By early January, Value Plastics had transferred the line to Colorado, within the firm's existing space and without needing to add staff.
Salt Lake City-based Wolfe Tory uses the polycarbonate valves in its assemblies, but the line was not a core business. As part of the transaction, Value Plastics agreed to supply the product line to Wolfe Tory for several years.
Makers of medical-market double-check valves include B. Braun Melsungen AG and others.
Value Plastics employs 65, operates injection molding presses with clamping forces of 17-100 tons, has ultrasonic assembly capabilities and occupies 40,000 square feet of space.
Sales figures were not disclosed.
Value Plastics recently made a few structural changes in its shipping area to improve movement and product flow.
American Capital Strategies Ltd. of Bethesda, Md., acquired a controlling interest of Value Plastics in 2005.