Vance Street acquires Plastic Design Corporation
Vance Street, a Los Angeles-based private equity firm, has acquired Plastic Design Corporation (PDC), a U.S.-based contract manufacturer of micro-moulded plastic components for the medtech and life science markets.
Founded in 1991 by Mark Kinder, PDC is headquartered in Scottsdale, Arizona. PDC is a family-owned business known for its micro-moulding and “micro-on-macro” solutions, but also possesses injection-compression and over-moulding capabilities. PDC’s customers include the leading medical device OEMs focussed on high-growth therapies and major life science companies focussed on the emerging microfluidics product landscape.
Mark Kinder, who will resume as President of PDC, said: “Vance Street’s long and impressive record of successfully partnering with family-owned businesses in the medical component manufacturing space made them the ideal partner for PDC’s next chapter of growth. Finding a partner that could come in and provide not only growth-based resources, but also one that valued the technology and employee base we have built over the past several decades was an important decision factor in finding our next partner. Vance Street truly understood and respected those aspects of our business.”
Vance Street has partnered with several other complementary medtech businesses focussed on interventional and advanced surgical markets including Applied Plastics, Motion Dynamics and Wytech Industries. Each of these companies play an important role in every step of the development and manufacturing of life saving products with capabilities including wire-based micro-components & subassemblies, specialty medical wire and metal tube solutions, and proprietary PTFE coatings.
Mike Janish, managing partner at Vance Street, said: “We are honoured to be partnering with the Kinder family during the company’s exciting next phase. This transaction is another example of our strategy to partner with family-owned businesses who are industry leaders with a collaborative technical customer approach to serve the interventional and advanced surgical component markets.”
Steve Sandbo, principal at Vance Street, added: “PDC is a great opportunity for Vance Street to leverage its value-creation playbook and network within medical manufacturing to continue to build on the platform the Kinder family has established over nearly 30 years. With the addition of PDC, we are able to compliment Wytech, Motion Dynamics & Applied Plastics customer base with additional technology and manufacturing capabilities.”