Rockwood Equity Partners, a lower middle market private investment firm, announced today that it has completed the sale of SYNEO, a provider of manufacturing equipment, cutting tools and services for the medical device and electronics manufacturing industries, to Arcline Investment Management.
SYNEO’s primary solutions serve catheter, guidewire and minimally-invasive medical device applications. The company’s comprehensive line of products and services are known for delivering an unparalleled level of sharpness and precision, enhancing catheter and surgical device applications through automated handling, cutting, drilling and precision hole-punching capabilities. Additionally, SYNEO serves the electronics manufacturing industry with its servo-electric press solutions, which provide pin connector pressing equipment for high force applications.
“SYNEO’s early success is a testament to Rockwood’s strategy for building lower middle market companies by bringing together our sector-focused knowledge, deploying key elements of our Rockwood Business System, leveraging our Rockwood River Guide® network, and focusing on company culture,” said Brett Keith, Managing Partner of Rockwood. “SYNEO is well positioned to execute on its growth strategy under Arcline’s ownership.”
“When we were looking for a partner to facilitate a management buyout, Rockwood was knowledgeable on the medical device space and able to move quickly to close a transaction,” said Tyler Wackman, SYNEO CEO. “Post close, Rockwood expanded upon our existing operational excellence by introducing a variety of tools, which positioned us for continued success with both our customers and employees. We are grateful for our partnership with Rockwood and look forward to continuing our strategy under Arcline’s ownership.”