Southfield, Mich.-based SyBridge Technologies has made its 13th acquisition in three years, buying Galway, Ireland-based Galway Tool & Mould Ltd. to expand its presence in the life sciences end market and get a foothold in Europe from the heart of a medical technology hub.
Founded in 1990 by Padraig McFadden, Galway has produced more than 1,000 molds, mostly for the medical device and pharmaceutical markets, at a facility in western Ireland, where more than 300 medical technology manufacturers are located.
SyBridge acquired the equity shares of Galway, attracted to capabilities such as design, engineering, manufacturing, validation and aftermarket support to help enhance its growing life sciences platform, a company spokesman said in an email.
McFadden, who had been Galway managing director, will stay in that role and report to Bill McDonough, president of SyBridge's life sciences and consumer unit.
The two companies had some customer overlap but SyBridge officials expect that will increase with design and production expertise in both North America and Europe, according to SyBridge Technologies CEO Byron J. Paul.
"Galway is an outstanding business that is renowned for its ability to handle the most complex and demanding life sciences projects. Adding world-class expertise to our team while gaining a foothold in a strategic location allows [us] to meet the global and local needs of our multinational customers," Paul said in an email.
The Galway operation had received $8 million in facility and technology upgrades over the years, according to the company website.
McDonough said he was not sure what the figure included but added, "Galway has consistently invested in its equipment and capabilities over the years to better serve its customers and is exceptionally well-positioned for future growth."
Terms of the acquisition were not disclosed. The transaction represents SyBridge's first investment in Europe and its 13th acquisition since its inception in 2019.
"[Galway has] a long and proven track record of exceeding customer expectations in applications that require high levels of precision and quality," Paul said. "This transaction also marks an important milestone for SyBridge by expanding our footprint into Europe. The addition of Galway to our life sciences business allows us to better serve our global customers through our operations in North America and now Europe."
McDonough said McFadden has done an outstanding job in building and maintaining a high-quality life sciences tooling company.
"Under Padraig's continuing leadership, we are confident that the entire Galway team will enhance our range of global solutions. We are excited to welcome the new members of our team and look forward to working together to support our customers' continued growth," McDonough said.
McFadden said his team is pleased to be part of SyBridge Technologies.
"The combination of Galway's expertise in the field and SyBridge's breadth of manufacturing and technology capabilities across North America enhances opportunities for our customers and employees alike," McFadden said.
SyBridge Technologies was established in 2019 by New York-based private equity firm Crestview Partners as part of a $200 million commitment of capital to bring together manufacturing solutions spanning end-markets, geographies and technological capabilities.
The company now has operations in the U.S., Canada, Mexico and Ireland.
SyBridge's previous acquisitions included consumer products mold maker Calframax Technologies Inc. of Oldcastle, Ontario; Fitchburg, Mass.-based Wachusett Precision Tool Inc.; Advantage Engineering Inc. in Windsor, Ontario; Active Industrial Solutions Inc. in Windsor; Pyramid Mold & Tool in Rancho Cucamonga, Calif.; Lakeshore Fixture & Gauge Ltd. in Windsor; Action Tooling LLC in Grand Rapids, Mich.; Concours Technologies Inc. of Lakeshore, Ontario; Valiant Tool and Mold Inc. of Windsor; X-Cell Tool and Mold Inc. in Fairview, Pa.; Toolplas Mexico of Querétaro, Mexico; and Toolstats software platform.
SyBridge business is No. 3 in the new 2022 Plastics News ranking of North American mold makers with $184 million in annual sales.