Zeus Industrial Products Inc. has acquired MWC Technologies LLC to grow both businesses and meet increasing demand in the medical market for catheter components.
The deal expands the product offering for Orangeburg, S.C.-based Zeus, which is in the midst of a $92 million expansion at two facilities, while opening new markets for the technologies of Chattanooga, Tenn.-based MWC, which received ISO certification in 2015.
MWC extrudes polyimide tubing for cardiovascular, peripheral and neurological catheters as well as urological retrieval devices; and its insulated wires made with polyimide and other materials are used for electrophysiology, diagnostic and cardiac ablation catheters.
Zeus extrudes fluoropolymers, nylons and other plastics for various medical niches, including permanently implantable or biabsorbable device components. The company's catheter components have cardio, neurovascular and peripheral applications and are used in procedures for gastrointestinal endoscopy, oncology and more.
Zeus officials said in a news release that MWC's products and technologies bolster capabilities that Zeus has been developing for more than 50 years.
"Since I founded the company in 1966, Zeus has been focused on continuing to grow and innovate. This acquisition supports those goals. We are confident that our acquisition of MWC will provide value to our customers today and into the future," Zeus founder and Chairman Frank P. Tourville Sr., said in the release.
The deal will help both companies reach more customers and allow for the global commercialization of the MWC's portfolio, according to the release.
"The acquisition of MWC will expand our capabilities and product portfolio to address the rising demand for advanced precision extrusions. Our combined expertise will enhance our ability to better serve customers around the globe," Zeus CEO John Winarchick said in the release.
Eric Evans, a quality manager for MWC Technologies, said the two companies align well in terms of operations and culture.
"Our combined technologies will enable new to the market solutions for our customers," he added.
MWC is focused only on the medical market. Zeus also serves the automotive, aerospace, fiber optics, energy and fluid management markets.
Zeus employs more than 1,500 people worldwide and has manufacturing facilities in Aiken, Gaston and Orangeburg, S.C.; Branchburg, N.J.; and Letterkenny, Ireland.
