Acquisition Broadens Tecomet’s Capabilities in High Precision Medical Instruments
WILMINGTON, MA., June 25, 2018 – Tecomet Inc., a Charlesbank Capital Partners portfolio company and global provider of innovation, design & development services and manufacturing solutions for OEMs in the medical and aerospace industries, today announced the acquisition of HD Surgical, a supplier of complex, high precision surgical instruments used in Orthopedic, Spine, ENT and Cardiovascular surgeries. Headquartered in Bristol, PA, HD Surgical’s products span across a wide range of precision machined instruments for the medical device market, including Orthopedic instruments used during Hip, Knee and Spinal surgery as well as instruments used in Cardiovascular, ENT and Dialysis procedures. The company’s capabilities include 9-axis CNC Swiss Screw Machining, Automated 5-axis Milling Robotic Cells, Multi-Axis CNC Mill/Turn, CNC Wire EDM, Complex Instrument Assembly, Laser Welding, Brazing, Finishing, Ultrasonic Cleaning, In-house Passivation, Prototype and Tooling Development, Video/Optical Inspection, Laser Marking and Packaging Services. The company has been serving the medical device industry for over 25 years and has grown to 70 employees today.
Mark Kemp, Chief Executive Officer, of Tecomet, said, “The acquisition of HD Surgical greatly expands our ability to support the complex instrument needs of our mid-size customers. HD’s dedication to innovation, design for manufacturability (DFM) services, prototyping, and precision instrument manufacturing solutions combined with intimate customer service align perfectly with Tecomet’s strategy and culture. We are excited to have HD’s management team and employees join the Tecomet family enabling us to further establish collaborative partnerships with new and existing customers.”
Robert Spurrier, Founder of HD Surgical, said, “I am excited to partner with an Industry leader with a long track record of success. The additional resources this acquisition brings, along with our shared commitment to the highest standards of quality and service will be of great benefit to our customers. With Tecomet’s global footprint, manufacturing capabilities and extensive customer relationships, HD Surgical is very well positioned for future growth.”
Founded in 1963 and based in Wilmington, MA, Tecomet is a market leading provider of manufacturing solutions for complex, high-precision products and services for the Medical Device and Aerospace & Defense markets. Tecomet operates seventeen (17) global manufacturing facilities in five countries around the world and employs over 2800 people. For more information about Tecomet, please visit www.tecomet.com.
About Charlesbank Capital Partners
Charlesbank Capital Partners is an experienced middle-market private equity firm with offices in Boston and New York City. They invest across a range of industries, supporting skilled management teams in building strong businesses, primarily in the United States. Charlesbank's senior team has worked together for many years, establishing a consistent record of strong returns over multiple business cycles. They bring a flexible approach to the structure of each portfolio company investment, and are comfortable working in situations that are complex or difficult to underwrite.
Charlesbank Capital Partners acquired Tecomet, Inc. in May 2017.