Ernie Green Industries Inc. and Gilero LLC have ended their equity partnership of almost five years called EG-Gilero.
The partnership formed in January 2015 to help Morrisville, N.C.-based Gilero, which opened in 2002 as an engineering design firm of medical devices, expand its manufacturing capabilities.
Ernie Green Industries has 13 manufacturing facilities worldwide. Founded in 1981 as a Tier 1 auto supplier, the company evolved to also serve the medical device, consumer, energy and industrial markets.
With an estimated $260 million in annual injection molding sales, Columbus, Ohio-based Ernie Green Industries ranks 37th among North American injection molders, according to Plastics News' latest ranking.
The partnership let Gilero, formerly Gilero Biomedical, leverage its design, development and regulatory capabilities with Ernie Green Industries' tooling, contract manufacturing and supply chain management capabilities.
Three other businesses also were involved in the plan to offer the medical market a one-stop shop from design to molding, packaging and distribution. The business activities of device incubator Infield Medical of Durham, N.C, is now a part of Gilero known as Gilero Ventures, while medical components manufacturer Ennovea of Austell, Ga., and ValTech Holdings of Rochester, N.Y., are still part of Ernie Green Industries.
After almost five years of the business alignment, Gilero is ready to become a stand-alone company.