Genas, France-based Clayens NP Group has acquired plastics manufacturing facilities in Providence, R.I., and Wallingford, Conn., from Paragon Medical Group.
The new facilities offer "plastic molding and fabrication services for low- to mid-volume programs, including precision injection molding, micromolding, plastic optics molding, reel-to-reel molding, precision machining, plastic milling, polishing, annealing and other post-production, value-added services," a June 19 news release said.
The facilities are ISO 9001 and 13485 certified, manufacturing specialty plastic components for end markets including precision industrial, fluid management, electronics, aerospace and defense, among others, the release said.
Clayens did not immediately respond to an inquiry for comment by Plastics News.
A portfolio company of One Equity Partners, Clayens also acquired injection molder Parkway Products LLC in April, adding 750 new employees to the group. The same day it announced the Parkway deal, Clayens also announced that it had acquired a Crystal Lake, Ill., medical injection molding operation. Clayens did not reveal the seller of that facility, but a local news report noted that a Cardinal Health plant that had been slated to close was being taken over by an unnamed company.
Pierceton, Ind.-based Paragon Medical has 12 manufacturing locations globally, making medical device components for implants, surgical instrumentation and disposable devices and assemblies.
"We have enjoyed working with the management teams in East Providence and Wallingford and are excited about the future and growth potential for these two operations as they join the Clayens organization," said Wil Boren, CEO of Paragon Medical.
Investment firm Stout Capital LLC advised Paragon Medical on the sale.
"The East Providence and Wallingford operations have a long history in the manufacture of highly technical, precision plastic components and bring complementary products, capabilities and customers to Clayens," David Evatz, Stout managing director, said in the release.
Evatz led the exclusive sell-side deal team, which included Stout's Tyler Skarstein, Adam Lewis, Paul Graham and Su Peng Lin.
Hunton Andrews Kurth LLP served as legal counsel to Paragon Medical. Freshfields Bruckhaus Deringer LLP acted as deal counsel to Clayens NP Group.