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TruArc Grows Medical Portfolio with Molded Devices Acquisition

Molded Devices has expertise in injection, blow, and dip molding as well as tubing extrusion.

August 9, 2022

1 Min Read
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Image courtesy of Alamy/Cagkan Sayin

Private equity firm TruArc Partners has acquired Molded Devices Inc. from PNC Mezzanine Capital and Molded Devices founder Brian Anderson. Based in Tempe, AZ with production facilities in the United States, Mexico, Canada, and China, Molded Devices manufactures plastic and rubber components for medical and other applications.

Molded Devices’ core manufacturing capabilities include injection molding, tube extrusion, blow molding, dip molding, and dip coating. The company also provides a range of value-added services including cleanroom assembly for advanced medical device production, product design and development, and engineering and tooling support.

“Within our specialty manufacturing strategy, we have been looking for opportunities with significant exposure to the growing healthcare market,” said John Pless of TruArc Partners. “We believe Molded Devices, with its unique capabilities and robust customer relationships, is well-positioned to continue the momentum it has across the business, with a focus on deepening its capabilities across the medical market.”

Molded Devices hopes to leverage TruArc’s experience in manufacturing, sales, and marketing to become a market leader in servicing medical device OEMs, remarked Molded Devices CEO and President Jack Slinger.

Slinger will continue in his role with the company and Molded Devices founder Brian Anderson will remain as a key member of the board, said TruArc in the press release. TruArc advisor Gregg Tobin will join as Executive Chairman. Jay Twombly, an Operating Partner at TruArc, will also join the board.

William Blair served as financial advisor to TruArc Partners, and Piper Sandler served as the financial advisor to Molded Devices. Davis Polk acted as legal counsel to TruArc Partners and Dentons Cohen & Grigsby P.C. acted as legal counsel to Molded Devices.

Terms of the transaction were not disclosed.

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