Middle market private equity firm Genstar Capital Management has acquired Tecomet, a precision contract manufacturer supporting the medical device and aerospace and defence industries.
The acquisition is in partnership with the company's management. Tecomet was previously a portfolio company of Charlesbank Capital Partners.
Founded in 1964 and based in Wilmington, MA, Tecomet manufactures orthopaedic implants, precision surgical instruments, trauma plates and photochemical etched products for medical device customers. Tecomet uses its prototyping and engineering capabilities to produce highly complex products that provide solutions for its customers' most demanding products and applications. Tecomet is also a leading manufacturer of precision components to the aerospace & defence industry, producing products used in missile & satellite propulsion systems, vision systems, and infrared applications.
Genstar will partner with the Tecomet management team including Bill Dow and John Connolly to continue the company's impressive growth trajectory.
Dow says: "Tecomet has become a trusted partner for our customers by providing differentiated manufacturing capabilities combined with industry-leading quality and reliability. We look forward to our partnership with Genstar as we share a similar vision towards continuing Tecomet's growth both organically and through acquisitions. Genstar has a proven track record of growing companies in the industrial and healthcare industries and we are excited to utilize their capital, expertise and network to help Tecomet accelerate its growth."
Rob Rutledge, principal at Genstar Capital, says: “Tecomet is led by an outstanding management team that we are excited to partner with. Bill Dow, John Connolly and the rest of Tecomet's employees have built the company into one of the premier precision manufacturers for the medical device and aerospace & defence industries, driving growth both organically and through the sourcing and integration of strategic acquisitions. Genstar is eager to partner with the Tecomet management team to expand the company's capabilities, product offering and geographic reach while continuing to provide excellent quality and service to its customers."
