Southfield, Mich.-based SyBridge Technologies LP acquired Fitchburg, Mass.-based Wachusett Precision Tool Inc. (WPT) to expand its customer base and footprint in the life sciences and consumer markets.

Founded in 2016, WPT produces prototype, pilot and production molds for medical and consumer packaging customers.

The company has computer numeric controlled machining, electric discharge machines, milling and grinder equipment, two injection molding machines for sampling and a clean room to support low volume medical molding during the product certification or ramp-up phase.

SyBridge acquired the entire business entity and plans to continue operations at the current site under a long-term lease, SyBridge CEO Tony Nardone said in an email. The current facility is 10,000 square feet with opportunity for expansion, he added.

The deal marks the 11th acquisition for SyBridge since its inception in 2019, bringing it a life sciences center in Massachusetts that complements its facilities in California and Pennsylvania.

Located near Boston, WPT is close to many pharmaceutical, medical device and consumer products manufacturers.

"First and foremost, this acquisition allows us to serve our customers better with a Northeast U.S. footprint that is close to many of our core customers," Nardone said. "Wachusett has strong customer relationships and will be able to accelerate its growth by leveraging SyBridge group's resources and capabilities."

WPT will become a part of SyBridge's life sciences business unit, gaining access to design, engineering, supply chain and production capabilities to grow with its customers in the Northeast region as well as SyBridge's broader global customer base.

"WPT is one of the fastest growing tooling companies in North America and will accelerate SyBridge's expansion in the strategically important life sciences and consumer markets," Nardone said. "The combination of WPT and SyBridge Life Sciences' existing Northeast facility in Erie, Pa., will give us a strong presence in serving our customers in the region. In addition to the Rancho Cucamonga, Calif., facility, SyBridge can increasingly seamlessly serve life sciences customers coast-to-coast."

SyBridge will retain all WPT employees. Owners Mike Carignan and Matt Saunders will take on roles with Carignan as global sales director for SyBridge's life sciences business unit and Saunders continuing to run WPT operations.

Carignan and Saunders were instrumental in building a best-in-class medical tooling company in a very short time, according to Bill McDonough, president of SyBridge's life sciences business unit.

"We are excited to welcome new team members and work together to continue to provide the quality and innovation that underpins our customers' success," McDonough said in a news release.

Financial terms of the WPT acquisition weren't disclosed.

SyBridge Technologies was established three years ago by New York-based private equity firm Crestview Partners as part of a $200 million commitment to create a global technology company that provides design and production solutions for a range of end markets.

"SyBridge is still in the middle of building a leading global industrial technology solutions provider," Nardone said. "There are sufficient funds — both self-generated and sponsor committed to achieve our vision and strategic goals."

In March, SyBridge acquired Advantage Engineering Inc. in Windsor, Ontario, to offer online quoting for digital rapid prototyping and additive manufacturing as well as bridge tooling.

Other acquisition include: Advantage Engineering Inc. in Windsor, Ontario; Active Industrial Solutions Inc. in Windsor; Pyramid Mold & Tool in Rancho Cucamonga; Lakeshore Fixture & Gauge Ltd. in Windsor, Ontario; Action Tooling LLC in Grand Rapids, Mich.; Concours Technologies Inc. of Lakeshore, Ontario; Valiant Tool and Mold Inc. of Windsor; X-Cell Tool and Mold Inc. in Fairview, Pa.; Toolplas Mexico, Querétaro, Mexico; and Toolstats software platform.

Its Concours business is No. 3 in the most recent Plastics News ranking of North American mold makers with $154 million in annual sales.

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