Medical micromolder Plastic Design Corp. has a new private equity owner, Vance Street Capital LLC.
Scottsdale, Ariz.-based PDC is a contract manufacturer for medical and life science original equipment makers and also does injection compression molding and overmolding.
Vance Street noted in a Dec. 22 news release that PDC is known for micromolding and "micro-on-macro" molding — producing regular-sized parts with areas of microprecision molding. PDC focuses on high-growth therapies and emerging microfluidics products.
PDC also does in-house design for manufacturing, mold making, and research and development. It uses specialty materials including polytetrafluoroethylene (PTFE), polyetheretherketone and cyclic olefin polymer. Its product line includes implantable components, solid and film bottom microtiter plates, point-of-care cassettes with integrated elements and tooling inserts.
Mark Kinder, who founded the family-owned company in 1991, will continue as PDC president.
"Vance Street's long and impressive record of successfully partnering with family-owned businesses in the medical component manufacturing space made them the ideal partner for PDC's next chapter of growth," Kinder said in the release.
Terms of the transaction were not disclosed.
Vance Capital also holds a stake in Applied Plastics Co. of Norwood, Mass., which supplies polytetrafluoroethylene (PTFE) coatings for wires and other metal parts for the medical device industry, focusing on the advanced catheter market. Vance invested in Applied Plastics in 2019 and has partnered with several other complementary med-tech businesses that focus on interventional and advanced surgical markets.