Private equity firm Vance Street Capital LLC announced yesterday the acquisition of Plastic Design Corp. (PDC), a micro molder serving the medtech and life-science markets. Terms of the transaction were not disclosed.
Founded in 1991 and headquartered in Scottsdale, AZ, PDC is a family-owned business known for its micro molding and “micro-on-macro” solutions, but also offers injection-compression and over-molding capabilities. Customers include medical device OEMs focused on high-growth therapies and life-science companies focused on emerging micro-fluidics products.
Los Angeles–based Vance Street's record of successful partnerships with family-owned businesses in the medical component manufacturing space made it the ideal partner for PDC's next chapter of growth, said PDC founder Mark Kinder. “Finding a partner that could come in and provide not only growth-based resources, but also one that valued the technology and employee base we have built over the past several decades was an important decision factor in finding our next partner," said Kinder. "Vance Street truly understood and respected those aspects of our business."
Vance Street said in the announcement that Kinder will resume as President of PDC.
Vance Street has partnered with several complementary medtech businesses focused on interventional and advanced surgical markets, including Applied Plastics, Motion Dynamics, and Wytech Industries. Their capabilities include wire-based micro-components and subassemblies, specialty medical wire and metal tube solutions, and proprietary PTFE coatings. The addition of PDC complements this portfolio with additional technology and manufacturing capabilities, said Steve Sandbo, Principal at Vance Street.