Private-equity owned Eptam Precision Solutions acquired Micro Molding Inc. and its subsidiary MedConnection LLC to boost its capabilities for injection molding, catheter tipping and assembly in the medical device market.
Based in Northfield, N.H., Eptam has been manufacturing tight tolerance parts for the medical, aerospace, defense, oil and gas and semiconductor industries since 1981, mostly as Eptam Plastics Ltd.
The company rebranded as Eptam Precision in January when it acquired substantially all the assets of Colorado Springs, Colo.-based Relius Medical LLC, which specializes in machined metal components for implants and external fixation clamps.
The acquisition of Micro Molding and MedConnection, each with a facility on the same street in Phillipsburg, N.J., expands Eptam's product portfolio, according to a news release announcing the deal.
Terms of the transaction were not disclosed.
Eptam picks up two sites with equipment that can mold components from a fraction of an ounce to 13 ounces in shot size and handle high-volume automation in addition to micro molding to validate injection molding processes. The acquired business also offers insert and overmolding of thermoplastic materials
Founded in 1978, Micro Molding has been serving some leading medical device companies for more than 20 years with a staff experienced at working within tight tolerances. Both of the company's facilities are ISO-9001 certified with more than 36,000 square feet of space combined.
Eptam CEO Dana Waterman said Micro Molding is an ideal strategic addition for the acquirer, which has been focused on medical components for hip, knee and spinal implants, shoulder anchors, pacemakers, fusion devices and more.
"The company's plastic injection molding capabilities perfectly complement Eptam's plastic and metal machining capabilities, broadening our one-stop-shop solution for our key blue-chip customers. We are delighted to be partnering with Micro Molding and their team," Waterman said in the release.
Eptam is a portfolio company of Boston-based New Heritage Capital. The firm targets founder-owned businesses growing in the middle market.
"The acquisition of Micro Molding significantly broadens Eptam's suite of services, allowing it to serve its customers even better than before. We are excited about this new chapter in Eptam's strategic evolution," Jud Samuels, a partner at Heritage, said in the release.