PNC MC-backed MDI acquires Seitz

Molded Devices Inc, which is backed by PNC Mezzanine Capital, has acquired Seitz LLC, a maker of high tolerance injection molding products for the medical and industrial markets.

Molded Devices Inc, which is backed by PNC Mezzanine Capital, has acquired Seitz LLC, a maker of high tolerance injection molding products for the medical and industrial markets. No financial terms were disclosed.

PRESS RELEASE

PNC Mezzanine Capital (“PNC MC”) is pleased to announce its portfolio company Molded Devices Inc.’s (MDI) recent acquisition of Seitz, LLC (“Seitz”).

Molded Devices Inc. (MDI) is a global designer and manufacturer of injection molding, dip molding, dip coating, powder coating, extrusion, and blow molding products and assemblies to the medical and specialty industrial markets. Seitz is a global designer and manufacturer of high tolerance injection molding products (including precision plastic gear and electromechanical assemblies) for the medical and industrial markets.

With the addition of the Seitz’s capabilities, MDI continues to grow both organically and through key acquisitions to become the premier, global plastic contract manufacturer to the medical and specialty industrial marketplace; offering the design and development of custom molding services from product and tooling development, to building prototype and production tooling, to utilizing one of our many manufacturing core competencies of injection molding, extrusion, blow molding, dip molding, dip coating, powder coating and assembly. Molded Devices Inc. is also the largest dip molder and dip coater of custom products in North America.

”MDI’s intent behind the acquisition of Seitz is to expand our ability to provide complex, tight tolerance molded products and assemblies to the medical and specialty industrial markets, and to grow our footprint in the NE United States and China” commented Jack Slinger, President and CEO of MDI.

Doug Brosius, Partner at PNC Mezzanine Capital, added, “We are excited to partner with MDI on another add-on acquisition and are confident in the Company’s ability to continue executing on their growth strategy. With this acquisition, MDI will enhance its position in the medical market space while expanding into new custom molding applications, like precision gear assemblies, both in the USA and Asia.”

About MDI
Headquartered in Tempe, AZ with facilities across the USA, Canada and Mexico, MDI specializes in the manufacturing of high precision, custom molded products and assemblies for global customers in the medical and specialty industrial end markets. For more information about MDI visit the Company’s website at www.moldeddevices.com