LIVONIA, Michigan, March 4, 2016.
ARCH Global Precision, a Strength Capital Partners platform company that is focused on precision machined components and precision cutting tools has acquired Advanced Precision, located in Sparta, New Jersey. Advanced Precision is a manufacturer of highly complex precision machined medical instruments and devices serving the spine and orthopedic markets. In addition, Advanced Precision works integrally with their customers to assist in the design and development phase of new products.
“We are very pleased to announce the acquisition of Advanced Precision, representing our first completed acquisition of 2016. Advanced Precision represents ARCH Global Precision’s first acquisition of a focused medical business,” commented Eli Crotzer, ARCH Global Precision President and Chief Executive Officer. “ARCH Global is strategically committed to building a focused medical implants and instruments business, and the acquisition of Advanced Precision represents our first step in this direction. We look forward to partnering with the Advanced Precision management team as we together work to grow this business and acquire complimentary businesses that serve the medical and dental end markets”, concluded Mr. Crotzer.
Advanced Precision’s former owner, Vincent Fay, commented “we are pleased to announce the sale of Advanced Precision to ARCH Global Precision. In choosing an acquirer to sell the company to, it was important for me to identify a buyer that was committed to the continued growth of the company, while at the same time also committed to maintaining the culture, facility and welfare of the Advanced Precision employee base. After meeting with several potential buyers, it quickly became evident that ARCH Global Precision was the ideal partner to take Advanced Precision to the next level, while maintaining those things that have traditionally driven the success of the business.”