Cirtec Medical buys Stellar Technologies

Cirtec Medical LLC, a Century Park Capital Partners, has acquired Stellar Technologies Inc. Brooklyn Park, Minnesota-based Stellar provides precision machining, component manufacturing, and assembly services for medical devices, including neuromodulation lead wire assemblies, mechanical assemblies, delivery systems, and electro-mechanical medical devices.

PRESS RELEASE

August 01, 2016 04:31 PM Eastern Daylight Time
LOS ANGELES–(BUSINESS WIRE)–Century Park Capital Partners is pleased to announce that its portfolio company Cirtec Medical, LLC (“Cirtec”), a leading provider of outsourced medical device design, engineering and manufacturing services for Class III active implantable and minimally invasive medical devices, has acquired Stellar Technologies, Inc. (“Stellar”). Headquartered in Brooklyn Park, MN, Stellar is one of the leading providers of precision machining, component manufacturing, and assembly services for medical devices, including neuromodulation lead wire assemblies, mechanical assemblies, delivery systems, and electro-mechanical medical devices. The acquisition of Stellar will provide Cirtec with the ability to offer its customers a full suite of services and help further establish Cirtec as the premier contract manufacturer for Class III medical devices.
Brian Highley, CEO of Cirtec, said, “The acquisition of Stellar will further enhance our commitment to providing our customers with the latest innovative technologies, specifically in the high-growth neuromodulation market. We are also very excited to join Minnesota’s ‘Medical Alley’ with this acquisition. The greater Twin Cities area has long been known as a major center for medical technology and device companies. A defining rationale for this acquisition is having access to the talented and well-educated workforce in the area, as well as providing continued support to our customers based here. We couldn’t be more excited for the future of our combined businesses.”
Chip Roellig, Managing Partner with Century Park Capital Partners, commented, “The combination of Stellar and Cirtec will open up a wide range of market synergies for both companies as they are able to cross-sell products and services to each other’s existing customer bases. This combination creates a company with a national footprint providing a unique set of products and services to some of the most technically advanced medical device OEMs in the world.”
About Cirtec Medical, LLC:
For over 25 years, Cirtec has been providing design, development, manufacturing and product transfer services for the medical device industry. With facilities in Los Gatos, CA and Enfield, CT, the company specializes in outsourced solutions for active implantable devices in the areas of neuromodulation, drug delivery, cardiac rhythm management, ventricular assist, and minimally invasive devices. Companies rely on Cirtec’s expertise throughout the entire development cycle to bring life-enhancing therapies to market. For more information on Cirtec, please visit http://cirtecmed.com/.
About Stellar Technologies, Inc.:
Headquartered in Brooklyn Park, MN, Stellar Technologies is an ISO 9001 and 13485 certified, FDA compliant manufacturer of precision components and assemblies for medical applications. Stellar specializes in component manufacturing, including: micro machining, medical machining, neuro lead wire assembly, device assembly, delivery systems, laser tube cutting, laser welding, laser assembly, Swiss machining, clean room assembly and wire coiling. Stellar Technologies provides a complete package of services to assist product development, qualification and component manufacturing of medical products. For more information on Stellar, please visit http://www.stellar-technologies.com/.
About Century Park Capital Partners:
Century Park Capital Partners is a Los Angeles-based private equity firm that partners with management to build successful companies. The firm specializes in facilitating owner liquidity and business expansion by providing $10 million to $40 million equity investments for minority and majority recapitalizations, growth financings, management-led buyouts and acquisition financings. Century Park seeks to support management in accelerating the growth curve of well-positioned companies by investing in infrastructure, internal growth initiatives, and strategic acquisitions. For more information on Century Park Capital Partners, please visit www.centuryparkcapital.com.