Molded Devices Inc. is changing ownership, but leadership, including its founder, will remain.
The company provides injection molding, tube extrusion, blow molding, dip molding and dip coating services and is being purchased by private equity firm TruArc Partners LP from PNC Mezzanine Capital and founder Brian Anderson.
Anderson will remain with the firm as a board member and Jack Slinger stays on as CEO, TruArc said.
Molded Devices' work in the health care segment was attractive to TruArc.
"Within our specialty manufacturing strategy, we have been looking for opportunities with significant exposure to the growing health care market," said John Pless, co-managing partner at TruArc Partners, in a statement.
Tempe, Ariz.-based Molded Devices has 12 manufacturing plants in the United States and one each in Mexico, Canada and China.