Swiss fastening system component manufacturer SFS Group said today it is acquiring contract manufacturer Tegra Medical for an undisclosed amount.
Tegra Medical will continue to operate under the Tegra Medical brand, with headquarters remaining in Franklin, Mass. Current CEO J. Mark King, CFO Craig Campbell, sales & marketing VP Lee Crowe and Genesis Tech Center VP Mike Treleaven will remain on at Tegra, with King taking a spot on SFS Group’s exec board.
“As an end-to-end solutions provider, we are focused on meeting and exceeding our customers’ expectations. We’re all about being responsive and flexible; as an SFS company we’ll have even more resources to help us expand and offer what our customers need, where and when they need it,” Tegra Medical prez & CEO King said in a press release.
Tegra will be integrated into the engineered components segment of SFS Group, the companies said, while remaining an independent division. The acquisition is expected to close after customary conditions have been met.
“This is an exciting time for the SFS Group because we’ve been looking for the right manufacturer to add focused medical device expertise to our company. We are impressed with the breadth of Tegra Medical’s capabilities, the depth of their skills and experience, and the deep commitment of their employees. Not only is the company a great fit with our current manufacturing capabilities, we see synergy in terms of company principles, which include partnership, respect and a focus on the community,” SFS Group CEO Jens Breu said in prepared remarks.
“This is a very exciting development for Tegra Medical. During our ownership, the company experienced a significant transformation and became a leading contract manufacturer through acquisitions, investments in technology, organic sales growth, and new customer wins,” Riverside Partners general partner David Belluck said in a prepared statement.
“Under the leadership of Mark King, Tegra solidified its preferred partnership with leading medical device OEMs by continuing to innovate and through an unwavering commitment to operational excellence,” Riverside Partners partner Max Osofsky said in a prepared release.
