Los Angeles, CA – October 13, 2022 – Vance Street Capital LLC (“Vance Street”), a Los Angeles-based private equity firm, today announced the acquisition of Mountain Manufacturing Technologies (“Mountain” or the “Company”) to complement Wytech Industries (“Wytech”) as a leading manufacturer of specialty core wires, precision ground and straightened wires and hypotube-based components for the interventional and advanced surgical markets. The acquisition marks Vance Street’s eighth transaction in the medical device outsourced manufacturing sector since 2016.
“As we searched for partners that could complement Wytech’s position of high volume dead straight mandrels to the interventional market, we became very excited as we learned the depths of Mountain Manufacturing’s mandrel expertise. From every aspect, Mountain’s position as a specialty mandrel supplier for large diameter, hollow core, grooved mandrels, and specialty metals is a perfect fit to Wytech’s scale and volume,” said Mike Janish, Managing Partner at Vance Street.
Mountain was founded in 1988 by Tom Berg and is headquartered in Lino Lakes, MN. The Company is a leading research & development-driven contract manufacturer with a full range of machining and fabricating capabilities for enhanced product design, prototyping, component manufacturing, and volume production. Mountain’s customers range from leading Tier 1 customers to start ups designing the most complex access, delivery and closure systems used with complex medical devices.
“For nearly 30 years we have grown as a medical device supplier through our expertise in advanced precision machining. Finding an investment partner that shared our vision for growth, passion for innovation, and employee values was very important to me,” said Tom Berg, Founder of Mountain.
“As Wytech continues to grow our customer based in Structural Heart and Electrophysiology markets, the requests for specialized mandrels have grown considerably. With the Mountain acquisition, we can now support mandrels of all sizes, shapes, and materials. We are also excited to leverage Mountain’s vast experience for making precision tooling that improves the productivity of heat setting and electropolishing implants and medical instruments,” said Dave Ohmann, CEO at Wytech.
Vance Street originally partnered with Wytech and the Casalino family in November 2020. Other Vance Street portfolio companies in the medical device and life science outsourced manufacturing sector include Motion Dynamics, Applied Plastics, Adam Spence, Viamed, Plastic Design Corporation and Excel Scientific. Since inception, Vance Street has partnered with nearly 40 founder owned businesses.
Mountain Manufacturing was represented by Northborne Partners, LLC and Ballard Spahr LLP. Paul Hastings LLP served as legal advisor to Vance Street and Wytech on the transaction. Debt financing for the transaction was provided by BMO Sponsor Finance and Apogem Capital. Terms of the transaction were not disclosed.