Private equity firm Vance Street Capital said today that it has purchased Mountain Manufacturing Technologies.
Terms of the deal were not disclosed.
Lino Lakes, Minnesota-based Mountain Manufacturing Technologies is a wire and metal tube supplier for the interventional and advanced surgical markets. Los Angeles-based Vance Street said the acquisition would complement another company in its portfolio, Wytech Industries.
“As we searched for partners that could complement Wytech’s position of high-volume dead straight mandrels to the interventional market, we became very excited as learned the depths of Mountain Manufacturing’s mandrel expertise,” Vance Street Managing Partner Mike Janish said in a news release. “From every aspect, Mountain’s position as a specialty mandrel supplier for large-diameter, hollow core, grooved mandrels, and specialty metals is a perfect fit to Wytech’s scale and volume.”
Wytech is expanding its business in the structural heart and electrophysiology markets. Wytech CEO Dave Ohmann said demand is growing for specialized mandrels made from hardened tool steel, thick wall tubing and large-diameter rod with custom features.
“With the Mountain organization, we can now support mandrels of all sizes, shapes, and materials which will be very welcomed by Wytech’s customers,” he said in the release. “We are also excited to leverage Mountain’s vast experience for making precision tooling that improves the productivity of heat setting and electropolishing implants and medical instruments.”
Mountain Manufacturing Technologies President Tom Berg founded the company in 1988 and said the contract manufacturer may have an expansion project ahead.
“For nearly 30 years we have grown as a medical device supplier through our expertise in advanced precision machining and taking on difficult development projects, whether that was custom tooling or custom components,” he said in the news release. “Finding an investment partner that shared our vision for growth, passion for innovation, and employee values was very important to me. Extrapolating our last few years of growth into the future, we are happy to have Vance Street’s support for these reasons as we plan out our additional capital and potential facility expansion.”