Custom medical injection molder Forum Plastics Inc. has been purchased by Squadron Capital LLC, the companies announced June 10.
Terms were not disclosed. Founded in 1980 in Waterbury, Conn., Forum bills itself as a precision medical mold developer and molder of engineered thermoplastics, insert molding and elastomers. The company specializes in insert molding and micro-molding, and most of its products are used in minimally invasive surgical devices including endoscopic access ports and filters, vein harvesting devices, vascular infusion delivery systems and cardiac catheter insertion devices.
“Forum differs from most molders by focusing exclusively on the most critical portions of a device where its expertise in mold engineering and state-of-the-art molding processes are critical to the success of our customers' projects,” Squadron President David Pelizzon said in a news release. “We look forward to partnering with the Forum team and leveraging the resources of Squadron companies to execute their long-term business plan for the company.”
Squadron is an acquisition vehicle, rather than a traditional private equity firm, funded by a Chicago-based trust and led from its headquarters outside Hartford, Conn., with a focus on health care manufacturing and medical device companies.
P&M Corporate Finance was the exclusive financial adviser to Squadron.