Southfield’s SyBridge Technologies, a global technology company in the tooling and mold industry, has made its first acquisition in the medical tooling industry.
The company’s acquisition of X-Cell Tool and Mold in Pennsylvania supplements SyBridge’s presence in the mobility end market through its Concours Technologies subsidiary. Terms of the agreement were not disclosed.
“X-Cell is a strong beginning to SyBridge building a leading franchise in the medical tooling industry,” says Tony Nardone, CEO of SyBridge. “Through continuing to grow with new and existing customers and targeted acquisitions which will complement X-Cell, we are highly optimistic about our growth prospects within the medical industry.”
New York-based Crestview Partners, a private equity firm, established SyBridge in 2019 and committed $200 million of equity to create a company that spans end markets, geographies, and advanced technological capabilities to provide manufacturing solutions.
X-Cell is a manufacturer of close-tolerance and multi-cavity plastic injection molds primarily for the medical industry while also serving the consumer goods and electronics industries. It was founded in 1996 and uses engineering and manufacturing capabilities.
“X-Cell is a terrific addition to SyBridge Technologies,” says Ron Novel, CEO of X-Cell. “We are proud to become the anchor for a new medical business unit. Becoming part of SyBridge is a win-win situation for X-Cell and our employees, and we look forward to accelerating growth and expanding our ability to service our customers as part of SyBridge.”
The acquisition expands SyBridge’s tooling capabilities to include precision tooling solutions necessary for the medical industry. X-Cell will be able to leverage SyBridge’s design, engineering, supply chain, and production capabilities.
X-Cell was established in 1996.
Crestview was founded in 2004 and is focused on the middle market. It manages funds with more than $9 billion of aggregate capital commitments.