Coatings supplier Applied Plastics bought by private equity firm

Applied Plastics, a supplier of advanced coatings for the medical end market, has been acquired by Vance Street Capital LLC, a Los Angeles-based private equity firm.

The terms of the transaction were not disclosed.

This is Vance Street’s sixth investment out of Vance Street Capital II L.P., and its fourth investment in the medical space in the past three years.

Founded in 1953 and headquartered in Norwood, Mass., Applied provides specialty PTFE coatings on wires and other metal-based components for the medical device industry, with a primary emphasis on the advanced catheter market. Applied’s customers include medical device OEMs and contract manufacturers focused on high-growth microcatheter segments such as electrophysiology (EP), neurovascular, peripheral vascular, TAVR and neuromodulation.

Vance Street’s other medical investments in Fund II include Motion Dynamics, a leading manufacturer of wire-based micro-components and sub-assemblies found in micro-catheters, Adam Spence Vascular Solutions, a designer and manufacturer of high pressure braided tubing and extrusions for the cardiovascular end markets and A&E Medical, a leading medical device OEM focused on single-use products used in cardiovascular procedures.

“We’ve known and admired Applied since our prior involvement with Avalon Laboratories, a medical vascular catheter manufacturer, and are thrilled to have the opportunity to partner with a best in class supplier to the medical catheter industry” said John LeRosen, a partner at Vance Street.