The private equity owners of Northfield, N.H.-based Eptam Plastics Ltd. have acquired substantially all the assets of Relius Medical LLC in Colorado Springs, Colo., and is rebranding the combined companies as Eptam Precision.
Founded in 1981, Eptam manufactures tight-tolerant parts for the medical, aerospace, defense, oil and gas and semiconductor industries and is owned by Boston-based New Heritage Capital. The medical components, which are often made from polyetheretherketone and ultrahigh-molecular-weight polyethylene, are used for hip, knee and spinal implants, shoulder anchors, pacemakers, fusion devices, dental caps and more.
Relius specializes in machined metal components for implants and external fixation clamps and has been serving some of the world's leading medical device companies for decades. The business and its 70,000-square-foot, FDA-registered, ISO-certified facility came onto New Heritage's acquisition radar through a business contact and a deal considered a partnership was struck, according to Eptam CEO Dana Waterman.
"Introduced to us by a common customer, Relius is the perfect strategic addition to the Eptam family, allowing Eptam to offer customers a one-stop-shop for precision manufacturing solutions in both plastics and metals. We are excited to be partnering with Relius and their team," Waterman said in a written statement.
A New Heritage official said the firm has a 20-year history of partnering with founder-owned businesses that are growing in the middle market.
"The acquisition of Relius continues Eptam's strategy of playing an ever-increasing role in its customer's supply chain by providing a wider range of precision component manufacturing strategies with a high level of quality and delivery," Jud Samuels, a partner at Heritage, said in the release.
Relius has about 100 employees working at the 24-hour operation, which has some extra capacity. Eptam employs about 130 machinists who, in addition to medial components, produce controls, clips, seals, valves, nozzles, spacers and insulating blocks for satellites, smart phones and computers for the aerospace, defense and semiconductor markets.