Wytech Industries11.10.20
Vance Street Capital LLC, a Los Angeles-based private equity firm, has acquired Wytech Industries Inc., a leading manufacturer of specialty core wires and related components for the interventional medical markets.
This transaction represents the first platform investment out of Vance Street Capital III L.P., and the firm’s fifth investment in the medical device space in the past four years. Terms of the transaction were not disclosed.
About Wytech
Founded in 1975 and headquartered in Rahway, New Jersey, Wytech designs and manufactures complex specialty core wires and precision wire components for a wide range of advanced guidewires and delivery systems. Wytech’s customers include leading medical device OEMs and contract manufacturers focused on high-growth therapies in the neurovascular, peripheral vascular, and structural heart-end markets. In addition, Wytech’s Microtube Fabricators (MTF) business unit is a leading manufacturer in precision tube-based medical components and assemblies for the interventional and orthopedic-end markets.
Wytech was co-founded by Anthony J. (Tony) Casalino, who was subsequently joined by his sons, Michael and Anthony. Together, they built Wytech into a leading precision medical component manufacturer. As part of the transaction, the Casalino family is retaining an ownership position alongside of Vance Street.
“Vance Street’s long track record of successfully partnering with family owned businesses in the medical component manufacturing space made them the ideal partner for Wytech during its next chapter of growth,” said Mike Casalino, who will serve as CEO of Wytech.
“Finding a partner that could come in and provide not only growth-based resources, but also one that valued the culture and employee base our family has built over the past several decades was an important decision factor in finding our next partner,” commented Anthony Casalino, co-founder of Wytech. “Vance Street truly understood and respected those aspects of our business.”
“We have known about and admired Wytech for many years and are honored to be partnering with the Casalino family during the company’s exciting next phase,” explained Mike Janish, managing partner at Vance Street. “This transaction is a perfect example of our strategy to partner with family owned businesses that are industry leaders in the interventional medtech component market.”
“Wytech is a great opportunity for Vance Street to leverage its value-creation playbook and network within medical manufacturing to continue to build on the platform the Casalino family has established over the past 45 years,” concluded Steve Sandbo, principal at Vance Street. “With Wytech, as well as Motion Dynamics and Applied Plastics, we will be able to further serve each company’s valued customers with additional products and manufacturing capabilities.”
This transaction represents the first platform investment out of Vance Street Capital III L.P., and the firm’s fifth investment in the medical device space in the past four years. Terms of the transaction were not disclosed.
About Wytech
Founded in 1975 and headquartered in Rahway, New Jersey, Wytech designs and manufactures complex specialty core wires and precision wire components for a wide range of advanced guidewires and delivery systems. Wytech’s customers include leading medical device OEMs and contract manufacturers focused on high-growth therapies in the neurovascular, peripheral vascular, and structural heart-end markets. In addition, Wytech’s Microtube Fabricators (MTF) business unit is a leading manufacturer in precision tube-based medical components and assemblies for the interventional and orthopedic-end markets.
Wytech was co-founded by Anthony J. (Tony) Casalino, who was subsequently joined by his sons, Michael and Anthony. Together, they built Wytech into a leading precision medical component manufacturer. As part of the transaction, the Casalino family is retaining an ownership position alongside of Vance Street.
“Vance Street’s long track record of successfully partnering with family owned businesses in the medical component manufacturing space made them the ideal partner for Wytech during its next chapter of growth,” said Mike Casalino, who will serve as CEO of Wytech.
“Finding a partner that could come in and provide not only growth-based resources, but also one that valued the culture and employee base our family has built over the past several decades was an important decision factor in finding our next partner,” commented Anthony Casalino, co-founder of Wytech. “Vance Street truly understood and respected those aspects of our business.”
“We have known about and admired Wytech for many years and are honored to be partnering with the Casalino family during the company’s exciting next phase,” explained Mike Janish, managing partner at Vance Street. “This transaction is a perfect example of our strategy to partner with family owned businesses that are industry leaders in the interventional medtech component market.”
“Wytech is a great opportunity for Vance Street to leverage its value-creation playbook and network within medical manufacturing to continue to build on the platform the Casalino family has established over the past 45 years,” concluded Steve Sandbo, principal at Vance Street. “With Wytech, as well as Motion Dynamics and Applied Plastics, we will be able to further serve each company’s valued customers with additional products and manufacturing capabilities.”
