Riverside Exits Precision Wire Components

The Riverside Company has sold Precision Wire Components to Creganna-Tactx Medical following a five-year investment period.

Precision Wire Components (PWC) is an outsourced manufacturer of complex wire components and assemblies serving the minimally invasive medical device industry. PWC specializes in manufacturing medical wire and coiled components with exacting technical specifications and excels at working with fine-gauge wire, often with diameters smaller than a human hair. The company’s products are applicable for use in finished medical devices across nearly every major therapeutic area and are particularly relevant in minimally invasive procedures because of their intricate designs and precise characteristics.  The company is headquartered south of Portland in Tualatin, OR and has additional operations in Heredia, Costa Rica (www.pwcwire.com).

During its five-year hold, Riverside worked with PWC management to expanded its engineering organization, invested in automation and other production capabilities, and grew the company’s Costa Rican operations to support multinational customers establishing operations in the region.  “PWC was an outstanding company that we worked with management to make even better,” said Riverside Partner Steve Dyke. “Together, we were able to build on its strong foundation and loyal customer base by expanding and enhancing production capabilities and strengthening the company’s engineering organization.”

Working with Mr. Dyke on the transaction for Riverside were Vice President Ryan Richards and Vice President Drew Flanigan. Riverside Origination Principal Amy Margolis worked with the deal team to facilitate the sale of the business.  Jones Day and Piper Jaffray advised Riverside on this transaction.

The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $250 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 360 transactions. The firm’s international portfolio includes more than 75 companies. Riverside is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).

Creganna-Tactx Medical, the buyer of Precision Wire Components, is ranked among the Top 10 global companies in the medical device outsourcing industry. The company specializes in the design and manufacture of minimally and less invasive delivery and access devices for a range of therapies.  Headquartered in Galway, Ireland, Creganna-Tactx Medical has global operations with design and manufacturing facilities in the US, Europe and Asia (www.cregannatactx.com).

© 2014 PEPD • Private Equity’s Leading News Magazine • 12-2-14