Molded Devices Inc. (MDI; Tempe, AZ), a full service molder, has purchased Compass Product Design Inc. (Pleasanton, CA). Compass is a full service product design and engineering firm that provides industrial design, product engineering, prototyping and production services.
Compass has worked with over 200 clients on more than 500 programs. The company serves a wide array of markets including the medical device, laboratory equipment, consumer electronics, business and office products, sporting goods and toys.
MDI has had prior experience in collaborating with Compass on multiple product design and development programs throughout the years. It is an acquisition that will benefit both companies in that customers of MDI needing product design and development assistance could obtain the expertise of Compass, and Compass’s customers needing to find a plastics contract manufacturer could take advantage of MDI’s range of manufacturing capabilities.
“By joining with MDI, we will be able to provide our clients with world class manufacturing resources and capabilities,” said Curt Anderson, founder of Compass Design. “We now have the facilities to take a product from the initial concept stage, through design and engineering, prototyping, tooling and into final assembly.”
Compass Design will continue to operate out of its headquarters, and Curt Anderson will remain with the company after the acquisition is finalized. No changes are expected to occur with the staff.
In addition to Compass, MDI also acquired Bates Industries LLC (South Glens Falls, NY), an OEM provider of disposable medical devices and components. The company offers a variety of plastics processing capabilities including blowmolding, injection molding and extrusion. Bates also assists with assembly services, packaging and sterilization, quality control and good manufacturing practices.
“The acquisition of Bates Industries provides a significant extension to MDI’s medical business and offers our current customers expanded capabilities and services to fulfill their requirements throughout the U.S.,” commented Dave Schoell, MDI’s VP of Sales.
Both acquisitions were completed on December 31, 2015.
According to Brian Anderson, CEO of MDI (no relation to Curt Anderson), the acquisition of both Bates and Compass is part of the company’s broader strategy to provide MDI customers with complete product design, development, manufacturing and assembly solutions. As a total contract manufacturer, MDI has grown through a number of recent acquisitions that has resulted in the company’s expansion of capabilities that now include injection molding, dip molding, blowmolding, extrusion, machining and assembly. Established in 1963, MDI has been on the leading edge of plastic part fabrication for 52 years, and today has seven facilities.
“These transactions expand MDI’s full-service product design and development capabilities and provide added value to the many Fortune 500 customers the company serves,” said Schoell. “It also brings strong, natural synergy across the MDI group and gives the clients of the acquired companies additional resources to bring their products to market.”
Schoell emphasized that 2016 will be a year of continued aggressive strategic acquisitions for MDI.