SyBridge aims for growth in the medical sector with the acquisition of Wachusett

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Southfield, Michigan-based SyBridge Technologies LP acquired Fitchburg, Massachusetts-based Wachusett Precision Tool Inc. (WPT) to expand its customer base and presence in the life sciences and consumer markets.

Founded in 2016, WPT produces prototype, pilot and production molds for clients in the medical and consumer packaging sectors.

The company has computer numerical control machining, electric discharge machines, milling and grinding machines, two injection molding machines for samples and a clean room to support small volume medical injection molding during the product certification or start-up phase.

SyBridge acquired the entire business unit and plans to continue operations at the current location under a long-term lease, SyBridge CEO Tony Nardone said in an email. The current facility is 10,000 square feet with room for expansion, he added.

The deal is SyBridge’s 11th acquisition since its inception in 2019 and brings it a life sciences center in Massachusetts to complement its facilities in California and Pennsylvania.

WPT is close to Boston and many manufacturers of pharmaceuticals, medical devices and consumer products.

“First and foremost, this acquisition allows us to better serve our customers with a footprint in the Northeast that is close to many of our key customers,” said Nardone. “Wachusett has strong customer relationships and will be able to accelerate its growth by leveraging the resources and capabilities of the SyBridge group.”

WPT will become part of SyBridge’s Life Sciences business unit and gain access to design, engineering, supply chain and manufacturing capabilities to grow with its customers in the Northeast region as well as SyBridge’s broader global customer base.

“WPT is one of the fastest growing tooling companies in North America and will accelerate SyBridge’s expansion into the strategically important life sciences and consumer markets,” said Nardone. “The combination of WPT and SyBridge Life Sciences’ existing Northeast facility in Erie, Pennsylvania will give us a strong presence in serving our customers in the region. In addition to the facility in Rancho Cucamonga, California, SyBridge is increasingly able to seamlessly serve life sciences customers from coast to coast.”

SyBridge will retain all WPT staff. Owners Mike Carignan and Matt Saunders will serve as Global Sales Director for SyBridge’s Life Sciences business unit at Carignan, and Saunders will continue to lead WPT businesses.

According to Bill McDonough, President of SyBridge’s Life Sciences business, Carignan and Saunders have been instrumental in building a world-class medical device company in a very short period of time.

“We are excited to welcome new team members and work together to continue to provide the quality and innovation that underpins our customers’ success,” McDonough said in a press release.

Financial terms of the WPT acquisition were not disclosed.

SyBridge Technologies was founded three years ago by New York-based private equity firm Crestview Partners as part of a $200 million commitment to create a global technology company providing design and manufacturing solutions to a range of end markets.

More offers are expected.

“SyBridge is still in the midst of building a global leader in industrial technology solutions,” said Nardone. “There are sufficient funds available – both self-generated and committed by sponsors – to achieve our vision and strategic goals.”

In March, SyBridge acquired Advantage Engineering Inc. of Windsor, Ontario to provide online digital rapid prototyping and additive manufacturing offerings and bridge tooling.

Other acquisitions include: Advantage Engineering Inc. of Windsor, Ontario; Active Industrial Solutions Inc. of Windsor; Pyramid Shape & Tool at Rancho Cucamonga; Lakeshore Fixture & Gauge Ltd. in Windsor, Ontario; Action Tooling LLC of Grand Rapids, Michigan; Concours Technologies Inc. of Lakeshore, Ontario; Valiant Tool and Mold Inc. of Windsor; X-Cell Tool and Mold Inc. of Fairview, Pa.; Toolplas Mexico, Querétaro, Mexico; and Toolstats software platform.

His concours business is #3 youngest Plastic News Ranking of North American mold makers with annual sales of $154 million.

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