Motion Dynamics, a portfolio company of Vance Street Capital, has acquired ViaMed, a maker of medical device components.
Vance Street acquired Motion Dynamics in 2016 and the buy of ViaMed is the company’s first add-on acquisition completed under Vance Street ownership.
ViaMed specializes in the fabrication of micro-miniature components and subassemblies including braids, coils, retrieval baskets, graspers, snares, wire arrays, and expandable parts. The company’s components are used by medical device OEMs and other medical device contract manufacturers in the production of neurovascular, peripheral vascular, and orthopedic devices. ViaMed’s components are made using a range of materials, including metal wire such as Nitinol (a metal alloy of nickel and titanium), nonmetallic fiber, and tubing.
ViaMed was founded in 1986 by Gary Lewis (he passed away in May 2020) and is headquartered south of Boston in Easton, Massachusetts. “Finding a partner who could not only provide growth-based resources but also value the culture and employee base ViaMed has built over many years were critical factors in our decision to partner with Motion Dynamics,” said Mary Ellen Lewis, the wife of the founder.
Motion Dynamics
is a maker of wire-based micro-components and sub-assemblies which are frequently found in micro-catheters, pacemakers and neuromodulation devices that stimulate the nervous system with electrical signals.
The company’s products require fine and ultra-fine wire diameters, unique alloy types and shapes, high precision, and tight tolerances. The company crafts some of the smallest wire components in the world and can work with any cold formable material in sizes down to 0.0007″. Motion Dynamics was founded in 1992 by Dick Witham and today is led by President Chris Witham. The company has a 73,000 sq. ft. manufacturing and headquarters facility located northwest of Grand Rapids in Fruitport, Michigan.
“We are excited about this partnership as it will enable us to provide a broader range of capabilities, products and services while maintaining our core focus on providing best-in-class products and dedication to quality and customer service above all else,” said Chris Witham. “This partnership enhances our ability to offer complementary capabilities to simplify the supply chain and continue to solve our customers’ toughest design and manufacturing challenges.”
“The combination of the manufacturing capabilities of ViaMed and Motion Dynamics will allow customers to choose between nitinol springs, coils and complex braid patterns based on the customer’s specific product application requirements or a mixture of these solutions through a single vendor,” said John LeRosen, a partner at Vance Street.
Los Angeles-based Vance Street makes control investments in companies with enterprise values of $30 million to $250 million and EBITDA of $3 million to $25 million. Areas of interest include the medical, aerospace, defense, and industrial sectors.
© 2020 Private Equity Professional | December 4, 2020
