Pritzker Group Private Capital subsidiary Technimark said today that it acquired specialty medical component maker Ci Medical Technologies from Altaris Capital Partners for an undisclosed amount.
Latrobe, Pa.-based Ci Medical specializes in product development, scientific molding, contract manufacturing, assembly, packaging and logistics.
Asheboro, N.C.-based Technimark said the deal expands both companies’ footprints. Ci Medical employs more than 550 workers at 5 facilities in Pennsylvania, Texas, Mexico, Puerto Rico and the U.K. Technimark said it has 9 facilities globally, including in Germany and China.
“The acquisition of CI Medical accelerates Technimark’s growth in the medical injection molding market,” CEO Brad Wellington said in prepared remarks. “We look forward to combining CI Medical’s blue chip customer base and manufacturing capabilities with Technimark’s global footprint and financial resources to expand our delivery of innovative, high-quality medical products at low cost for our valued customers.”
“Ci Medical has been combining advanced technologies and engineering expertise to deliver cost-effective, quality healthcare products for more than 40 years. This partnership puts us in a great position for long-term growth and will allow the teams to work together to build lasting value,” added Ci Medical CEO Robert Subasic Jr.
