Wire and tubing manufacturer Wytech Industries has been acquired by private equity firm Vance Street Capital.
Rahway, N.J.-based Wytech was founded in 1975 and manufactures specialty core wires and related components for the interventional medical markets. Its customers include the leading medical device OEMs and contract manufacturers focused on high-growth therapies in the neurovascular, peripheral vascular, and structural heart-end markets. Wytech also operates a microtube fabricators unit, manufacturing precision tube-based medical components and assemblies for the interventional and orthopedic markets.
The founding Casalino family is retaining an ownership position alongside of Vance Street. Terms of the transaction were not disclosed.
“Vance Street’s long track record of successfully partnering with family-owned businesses in the medical component manufacturing space made them the ideal partner for Wytech during its next chapter of growth,” said Mike Casalino, who will serve as Wytech’s CEO, in a news release.
“Finding a partner that could come in and provide not only growth-based resources, but also one that valued the culture and employee base our family has built over the past several decades was an important decision factor in finding our next partner,” said his father and Wytech co-founder, Anthony Casalino. “Vance Street truly understood and respected those aspects of our business.”
Los Angeles-based Vance Street Capital has partnered with several other highly complementary businesses to Wytech, including Motion Dynamics and Applied Plastics.
“We have known about and admired Wytech for many years and are honored to be partnering with the Casalino family during the company’s exciting next phase,” said Vance Street managing partner Mike Janish. “This transaction is a perfect example of our strategy to partner with family owned businesses that are industry leaders in the interventional medtech component market.”
