October 2007
BOSTON, MA--Riverside Partners, based in Boston, MA, is pleased to announce the simultaneous acquisitions of two medical device manufacturing companies: New England Precision Grinding ("NEPG") and Accu-Met Laser ("Accu-Met"). Both acquisitions were completed in partnership with the existing management teams and the two companies have been merged into one combined operating company.
Both NEPG and Accu-Met are outsourced manufacturers for medical device OEMs. The companies partner with their medical device customers to manufacture highly engineered medical devices and components in the orthopaedic, cardiovascular, and other segments within medical devices and diagnostics. Advances in minimally invasive surgery make it increasingly important to manufacture smaller medical devices with greater precision, tighter tolerances, and high quality. NEPG and Accu-Met utilize their longstanding expertise in medical manufacturing to help their OEM clients stay on the cutting edge of the medical device market. The companies have worked together for a number of years and the merger will provide their medical device customers with integrated manufacturing, an expanded range of capabilities, and true "one-stop shopping." NEPG is headquartered in Holliston, MA with manufacturing facilities in Holliston and Dartmouth, MA. Accu-Met is headquartered in Cranston, RI.
"Riverside is excited about the closing of two simultaneous transactions in the high growth area of medical device outsourced manufacturing. NEPG and Accu-Met's leadership positions in medical device components make the companies a perfect fit with Riverside's healthcare investment portfolio. The combination of the two companies creates a highly differentiated partner for leading medical OEMs. We are excited to be backing such an exceptional management team," said David Belluck, a General Partner at Riverside.
"Riverside's healthcare investment and operating experience has been extremely helpful with the combination of NEPG and Accu-Met. Our partnership with Riverside will allow us to invest in our infrastructure so that NEPG/Accu-met can continue providing innovative products with industry leading quality and service," said Gerald Mazzenga, Founder and CEO of NEPG.
"The NEPG/Accu-Met team is now able to provide a wide range of highly specialized manufacturing services. We are very excited about working with Riverside Partners because of their experience in growing leading healthcare businesses," said Steve Iemma, Founder and CEO of Accu-Met.
Founded in 1988, NEPG is a leading outsourced manufacturer for medical device OEMs focused on highly engineered wires and precision ground needles with facilities in Holliston, MA and Dartmouth, MA.
Founded in 1992, Accu-Met is a leading outsourced manufacturer for medical device OEMs focused on laser welding, cutting, engraving, and wire EDM capabilities headquartered in Cranston, RI.
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund III, L.P. The fund focuses on growth oriented companies primarily in the healthcare and technology industries. Riverside is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. The partners at Riverside have managed more than $500 million in investments in over 50 companies.
Riverside Partners
Riverside Partners, LLC
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Boston, MA 02116
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