ERJ staff report (R&PN)
Cleveland, Ohio -- Private equity firm Blue Point Capital Partners, owner of Quality Synthetic Rubber Inc., has purchased Quadra Inc., which mainly does business under the Limtech name as a custom moulder of silicone products.
Limtech employs about 150 and operates out of a 75,000-sq.-ft. facility in Sturtevant, Wisconsin, serving the medical, dental, industrial and consumer markets. Terms of the deal weren't disclosed.
Blue Point said the acquisition will bolster QSR's medical subsidiary, Medical Elastomer Development Inc., which is based out of QSR's headquarters factory in Twinsburg, Ohio. Limtech will bring added technical capabilities, rapid prototyping and added clean room capacity to the MED business.
â€œSince our acquisition in 2007, QSR has made significant investments to strengthen the MED platform,â€ said John LeMay, a partner with Blue Point. â€œThe acquisition of Limtech further supports our strategy by broadening the company's medical product offering and significantly diversifying QSR's customer base.â€
QSR CEO Randy Ross said the deal will benefit customers in several ways, â€œincluding faster time to market with new products as a result of incorporating Limtech's state-of-the-art tooling capabilities, an increased array of production capabilities and a second manufacturing location for medical products.â€
From Rubber & Plastics News (A Crain publication)