Medical supplier Arterex Medical Device Inc. has acquired Micromold Inc., which is relocating equipment from Riverside, Calif., to Arterex's facility in Tecate, Mexico.
The deal, which closed in the last quarter of 2023, includes 20 Boy injection molding machines ranging from 10-33 tons of clamping force. None of Micromold's employees will relocate to Tecate.
"Micromold's leadership and many employees retired," Jeff Goble, CEO of Arterex, told Plastics News in an emailed statement.
Micromold "will continue its 24/7 operations within Arterex's Formula Plastics division" in Tecate, which features a 3,000-square-foot Class 8 clean room.
Goble declined to comment on the cost of the acquisition.
"Micromold brings … 40 years of expertise from mold design to end customer fulfillment service that allows us to expand our services and capabilities to our growing customer base," Bill Gerard, Arterex's North American president said in a news release. "The company is an ideal addition to our offering of high-quality precision injection molded medical components, assemblies, product design and development services."
Micromold supplied custom precision micro- injection molded parts for the medical, diagnostics, optical, dental and laboratory markets. It was No. 506 in the most recent Plastics News ranking of North American injection molders with $3 million in sales.
Scottsdale, Ariz.-based Arterex formed in 2022 through London-based private equity firm Investindustrial's acquisition of Formula Plastics Inc., Kabo srl, Luc & Bel srl and Modenplast srl. It added two more plants in June 2023 when it bought NextPhase Medical Devices LLC.
The company produces Class I, II and III disposable and electromechanical devices for medical and health care OEMs in the United States and Europe. It has 1,200 employees at eight facilities in the U.S., Mexico, Italy, and Egypt.
Arterex's Formula Plastics division in Tecate came in at No. 224 in PN's injection molders ranking with $25 million in sales.