Contract manufacturer acquires plastics company
A local contract manufacturer of medical device components has acquired a similar company on the state's east side.
Cascade Township-based Medbio acquired Clinton Township-based AIM Plastics, according to Medbio last week.
Terms of the deal were not disclosed.
Medbio — a portfolio company of Graham Partners, a private investment firm targeting industrial technology and advanced manufacturing companies — is a contract manufacturer specializing in clean room injection molding of plastic components for the medical and biotechnology industries
AIM is a founder-owned medical device component manufacturer offering injection molding and in-house tooling capabilities to “high-growth therapeutic areas within the health care sector.” The company specializes in “the rapid turnaround of prototype-to-production molds and complex injection molding that requires niche medical expertise.”
The founders of AIM said they were “attracted to Medbio and Graham Partners’ operating resources in the health care space, as well as the cultural fit and potential commercial and operational synergies between AIM and Medbio.”
Joe Heinmiller, managing principal at Graham Partners, said AIM is “a truly transformative add-on acquisition for Medbio.”
“We are looking forward to combining these two industry-leading businesses into a larger, more diversified medical device outsourced manufacturer with additional capabilities,” Heinmiller said.
Steven Graham, CEO of Graham Partners, said the acquisition represents “a major step forward in Graham’s investment thesis to build a premier medical device manufacturing business.”
“Graham is excited to increase our exposure in this attractive industry niche and leverage our resources in the industry to continue Medbio’s strong growth trajectory,” Graham said.
Founded in 2004, Medbio is an ISO 13485:2016-certified medical contract manufacturer specializing in clean room injection molding, assembly and packaging, with clients based throughout the U.S., Europe and Central America.
It is currently building products for the orthopedic, cardiovascular, ophthalmology, neurology and biotechnology OEMs.
Founded in 1988 as Accurate Injection Molds, AIM provides tooling, manufacturing, quality and clean room solutions for the consumer, electronics and health care markets.
It is ISO 9001 and ISO 13485 certified.