Wytech Industries and its affiliate company Mountain Manufacturing Technologies, supported by Vance Street Capital, purchased the assets of Silvertip & Associates on April 1st, for the creation of a strategic grinding division located in Minneapolis, MN, that is focused on the development and production of medical mandrels (wire and metal tube) to the global medical device market.

"As the interventional medical device market continues to expand in clinical applications, there is an increased demand for innovative catheter solutions from medical device manufacturing companies. These companies seek supply chain partners knowledgeable in materials and processes who can engineer solutions to improve their internal production efficiencies. Silvertip expands Wytech and Mountain Manufacturing's capability for new ground mandrels and ensures fast response to the market's R&D needs," said Michael Janish, Managing Partner at Vance Street Capital.

"For nearly 40 years, Silvertip has developed advanced centerless grinding expertise and is known for taking on difficult materials from exotic materials like titanium to commonly used stainless steel to advanced polymers such as PEEK. Finding a world-class partner that shares our vision for growth and employee values was very important to me and my employees," said Dale Peterson, Owner of Silvertip and Associates.

"As we searched for partners that could complement Wytech and Mountain Manufacturing's position as leading suppliers of mandrels (processing aids) to the medical device industry, we became very excited as we learned the depths of Silvertip's grinding expertise and their ability for quick turn response.  We are very happy to partner with Dale Peterson as we continue to serve the medical device mandrel market," said Dave Ohmann, CEO of Wytech Industries.

"Mountain Manufacturing continues to search for additional ways to provide value to our medical device customers and their contract manufacturing suppliers. Localization of manufacturing in highly concentrated customer regions is one path for achieving speedy response time for R&D and production. Silvertip and Dale Peterson's team have also demonstrated unique know-how for grinding advanced materials, complementing Mountain Manufacturing and Wytech's expertise in stainless and Nitinol grinding. We are very excited to leverage this partnership with Silvertip to expand our FastLane material store and offer these advanced materials by Q3," said Tom Berg, President of Mountain Manufacturing.

 

Source:prnewswire.com

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