Medbio (Grand Rapids, Mich.) announced that it has acquired Detroit-based component manufacturer AIM Plastics. The financial details of the deal were not disclosed.
AIM Plastics specializes in prototype-to-production molds and complex injection molding. It offers full-service injection molding and in-house tooling capabilities for therapeutic applications in the healthcare industry.
“AIM is a truly transformative add-on acquisition for Medbio. We are looking forward to combining these two industry-leading businesses into a larger, more diversified medical device outsourced manufacturer with additional capabilities,” Joe Heinmiller, managing principal at Graham Partners, an investment company of which Medbio is a portfolio company.
Through the acquisition, AIM will be adding complementary capabilities to Medbio’s offerings, including scale and increased customer and end market diversification. AIM will also provide additional manufacturing capacity needed to support the growth of the two companies.
“Graham is excited to increase our exposure in this attractive industry niche and leverage our resources in the industry to continue Medbio’s strong growth trajectory,” Steven Graham, CEO of Graham Partners, said.