This is the first add-on acquisition for Machine Solutions since being acquired by Forsyth Capital in November 2011. “Strategic acquisitions are a large part of our growth strategy. The Vante transaction is a perfect first acquisition for Machine Solutions that will add to its organic growth initiatives,” said Kyle Chapman, managing director and co-founder of Forsyth Capital.
Vante designs and produces products for the precise manipulation of medical plastics. The company serves more than 500 customers and works with more than 23 partners to distribute its products globally. Specializing in the four categories of catheter manufacturing equipment, biopharmaceutical equipment, industrial applications and OEM solutions, Vante’s products include their own manufacturing systems, industrial tube sealers, and plastic sealing and welding technology. The company was founded in 1976 and is based in Tucson, AZ (www.vante.com).
Machine Solutions is a medical device company that provides mechanical solutions that include stent crimping, balloon catheter pleating & folding, and marker band swaging. The company has been instrumental in automating manual processes within catheter and stent manufacturing operations and within the medical device industry. The company was founded in 1999 and is based in Flagstaff, AZ (www.machinesolutions.com).
“Vante’s products and diverse customers and applications strengthen Machine Solutions’ vision of building the leading global supplier of automation and testing equipment to the medical device industry,” said Ryan Gable, co-founder of Forsyth Capital and Chairman of Machine Solutions. “The two companies know each other well and we’re excited to be combining these great companies, teams and cultures.”
Forsyth Capital Investors invests up to $100 million of control equity in companies that have revenues of $40 million to $300 million and EBITDAs of $5 million to $25 million. Sectors of interest included capital equipment & components; manufacturing; contract manufacturing & packaging; insurance & financial services; and industrial services. The firm has a strategic relationship with Barry-Wehmiller Companies, a diversified capital equipment manufacturer. Forsyth Capital Investors is based in St. Louis (www.forsythcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-5-13