SyBridge Technologies Completes Acquisition Of X-Cell Tool And Mold, Inc.
SOUTHFIELD, Mich., Nov. 18, 2020 /PRNewswire/ -- SyBridge Technologies ("SyBridge) a global technological leader in the tooling and mold industry, announced today that it has completed the acquisition of X-Cell Tool and Mold, Inc. ("X-Cell"). This transaction marks the first acquisition by SyBridge in the medical tooling industry and supplements SyBridge's leading presence in the mobility end market through its Concours Technologies subsidiary. New York based private equity firm Crestview Partners established SyBridge Technologies in 2019 and committed $200 million of equity to create a market leader spanning across end markets, geographies, and advanced technological capabilities to provide value-added manufacturing solutions to its customers.
Located in Fairview, Pennsylvania, X-Cell is a leading manufacturer of close-tolerance and multi-cavity plastic injection molds primarily for the medical industry while also serving the consumer goods and electronics industries. The company was founded in 1996 and utilizes state of the art engineering and manufacturing capabilities to provide precise and effective customer tooling.
The acquisition of X-Cell expands SyBridge's tooling capabilities to include highly complex precision tooling solutions necessary for the medical industry. As a part of SyBridge, X-Cell will be able to leverage design, engineering, supply chain and production capabilities to better serve and grow with its customers.
"X-Cell is a strong beginning to SyBridge building a leading franchise in the medial tooling industry," said Tony Nardone, CEO of SyBridge. "Through continuing to grow with new and existing customers and targeted acquisitions which will complement X-Cell, we are highly optimistic about our growth prospects within the medical industry."
"X-Cell is a terrific addition to SyBridge Technologies," said Ron Novel, CEO of X-Cell. "We are proud to become the anchor for a new medical business unit. Becoming part of SyBridge is a win-win situation for X-Cell and our employees and we look forward to accelerating growth and expanding our ability to service our customers as part of SyBridge."
About SyBridge Technologies
SyBridge Technologies was established in 2019 by Crestview Partners to create a global technological leader that provides value-added design and production solutions across multiple industries. SyBridge is based in Southfield, Michigan. For more information, please visit www.sybridgetech.com.
About X-Cell Tool and Mold, Inc.
Established in 1996, X-Cell is a leading manufacturer of close-tolerance and multi-cavity plastic injection molds for the medical, consumer goods, and electronics industries. X-Cell is located in Fairview, Pennsylvania. For more information, please visit http://www.xctam.com/.
About Crestview Partners
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over $9 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: industrials, media, and financial services. For more information, please visit www.crestview.com.
SOURCE SyBridge Technologies