Technimark, a Asheboro, N.C.-based Pritzker Group company and global manufacturer of custom rigid plastic packaging and components, acquired Ci Medical Technologies, a Latrobe, Pennsylvania-based specialty medical component manufacturer.
Altaris Capital Partners was the seller in the transaction, whose amountwas not disclosed.
The acquisition will expand the manufacturing capabilities and global presence for customers of both companies.
Founded in 1971 as Classic Industries, Inc., Ci Medical specializes in product development, scientific molding, contract manufacturing, assembly, packaging and logistics. The company’s operations meet applicable ANSI and ISO standards and FDA regulations for the manufacture of its medical products, including insulin pumps, surgical tools and other specialized devices. Ci Medical currently has more than 550 employees at its five facilities in Pennsylvania, Texas, Mexico, Puerto Rico and the U.K.
The combined company will have 14 facilities throughout the world including Germany and China.