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Molded Devices Inc.
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Molded Devices Inc. Acquires Two Companies
TEMPE, Ariz.—Molded Devices Inc. (MDI), a full service molder with locations in Riverside, Calif.; Tempe, Ariz.; Miamisburg, Ohio; Sellersville, Pa.; and Oshkosh, Wis., recently announced the acquisition of two companies: Compass Product Design Inc., of Pleasanton, Calif., and Bates Industries LLC, an OEM provider of medical devices located in South Glens Falls, New York.
Compass, a full service product design and engineering firm, offers industrial design, product engineering, prototyping, and production services. The company opened in 1989, and has worked with over 200 clients on more than 500 programs. Compass serves a wide range of markets, including medical devices, laboratory equipment, consumer electronics, business and office products, sporting goods, and toys.
Molded Devices has had the opportunity to work with Compass on numerous product design and development programs over the past few years, Both companies recognized the synergies of what each had to offer and the mutually beneficial results that could be achieved by MDI’s acquisition of Compass. Customers of MDI needing product design and development assistance could obtain the expertise of Compass, and Compass’s customers needing to find a plastics contract manufacturer could take advantage of MDI’s range of manufacturing capabilities.
“By joining with MDI, we will be able to provide our clients with world class manufacturing resources and capabilities,” said Curt Anderson, founder of Compass Design, in a press release. “We now have the facilities to take a product from the initial concept stage, through design and engineering, prototyping, tooling, and into final assembly.”
Compass Design will continue to operate out of its Pleasanton headquarters, and Curt Anderson will remain with the company after the acquisition is completed. No changes are expected to occur with the staff.
Bates Industries is a provider of medical disposable and durable medical devices. The company offers a variety of plastics processing capabilities, including blow molding, injection molding, and extrusion. Bates also provides assembly services, packaging and sterilization, quality control, and good manufacturing practices (GMPs).
“The acquisition of Bates Industries provides a significant extension to MDI’s medical business and offers our current customers expanded capabilities and services to fulfill their requirements throughout the U.S.,” commented Dave Schoell, MDI’s vice president of sales.
Both acquisitions were completed on December 31, 2015.
According to Brian Anderson, CEO of MDI (no relation to Curt Anderson), the acquisition of both Bates and Compass is part of the company’s broader strategy to provide MDI customers with complete product design, development, manufacturing, and assembly. Molded Devices has grown through a number of recent acquisitions that have expanded the company’s capabilities to include injection molding, dip molding, blow molding, extrusion, machining, and assembly.
“These transactions expand MDI’s full-service product design and development capabilities and provide added value to the many Fortune 500 customers the company serves,” said Schoell. “It also brings strong, natural synergy across the MDI group and gives the clients of the acquired companies additional resources to bring their products to market.”
Schoell emphasized that 2016 will be a year of “continued aggressive strategic acquisitions for MDI.”
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