Parts maker Molded Devices bought by private equity firm TruArc

U.S.-based plastic parts molder Molded Devices Inc., which has a plant in Milton, Ont., has been bought by private equity firm TruArc Partners for an undisclosed amount.

Headquartered in Tempe, Arizona, Molded Devices manufactures plastic and rubber components for the medical, industrial, and aerospace sectors. The company’s capabilities include injection molding, tube extrusion, blow molding, dip molding, and dip coating.

“Within our specialty manufacturing strategy, we have been looking for opportunities with significant exposure to the growing healthcare market,” John Pless, co-managing partner at TruArc Partners, said in an Aug. 8 news release. “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, CEO and president of Molded Devices, will continue in his role with the company and Molded Devices founder Brian Anderson will remain as a member of the board.

In addition to its plant in Milton, Molded Devices operates 12 manufacturing facilities in the U.S., one in Mexico, and one in China. The company was founded in 1963 in California.