TruArc Partners buys manufacturer Molded Devices Inc

The sellers were PNC Mezzanine Capital and Molded Devices Founder Brian Anderson.

  • Jack Slinger will continue in his role as CEO and president of Molded Devices while founder Brian Anderson will remain as a key member of the board
  • Gregg Tobin, an advisor to TruArc, will join as executive chairman and Jay Twombly, an operating partner at TruArc, will also join as a member of the board
  • TruArc Partners invests in the middle market

TruArc Partners has acquired Tempe, Arizona-based Molded Devices Inc, a provider of plastic and rubber component manufacturing solutions for medical and non-medical applications. The sellers were PNC Mezzanine Capital and Molded Devices Founder Brian Anderson. No financial terms were disclosed.

“Within our specialty manufacturing strategy, we have been looking for opportunities with significant exposure to the growing healthcare market,” said John Pless, co-managing partner at TruArc Partners, in a statement. “We believe Molded Devices, with its unique capabilities and robust customer relationships, is well-positioned to continue the momentum it has across the business, with a focus on deepening its capabilities across the medical market.”

Jack Slinger will continue in his role as CEO and president of Molded Device while founder Brian Anderson will remain as a key member of the board. Gregg Tobin, an advisor to TruArc, will join as executive chairman. Jay Twombly, an operating partner at TruArc, will also join as a member of the board.

William Blair served as financial advisor to TruArc Partners, and Piper Sandler served as the financial advisor to Molded Devices. Davis Polk acted as legal counsel to TruArc Partners and Dentons Cohen & Grigsby P.C. acted as legal counsel to Molded Devices.

TruArc Partners is a private equity firm focused on middle-market control investments. TruArc focuses on companies in attractive sub-sectors across specialty manufacturing and business services.