Cirtec Medical Acquires Stellar Technologies Inc.

Cirtec Medical LLC, a provider of outsourced medical device design, engineering and manufacturing services for Class III active implantable and minimally invasive medical devices, has acquired Stellar Technologies Inc. Terms of the deal were not disclosed.
 
Headquartered in Brooklyn Park, Minn., Stellar provides precision machining, component manufacturing, and assembly services for medical devices, including neuromodulation lead wire assemblies, mechanical assemblies, delivery systems, and electro-mechanical medical devices. The acquisition of Stellar will provide Cirtec with the ability to offer its customers a full suite of services and help further establish Cirtec as a premier contract manufacturer for Class III medical devices, according to Cirtec.
 
“The acquisition of Stellar will further enhance our commitment to providing our customers with the latest technologies, specifically in the high-growth neuromodulation market. We are also very excited to join Minnesota’s ‘Medical Alley’ with this acquisition,” Brian Highley, CEO of Cirtec, said. “The greater Twin Cities area has long been known as a major center for medical technology and device companies. A defining rationale for this acquisition is having access to the talented and well-educated workforce in the area, as well as providing continued support to our customers based here. We couldn’t be more excited for the future of our combined businesses.”
 
Chip Roellig, Managing Partner with Century Park Capital Partners, commented, “The combination of Stellar and Cirtec will open up a wide range of market synergies for both companies as they are able to cross-sell products and services to each other’s existing customer bases. This combination creates a company with a national footprint providing a unique set of products and services to some of the most technically advanced medical device OEMs in the world.”
 
For more than 25 years, Cirtec has been providing design, development, manufacturing and product transfer services for the medical device industry. With facilities in Los Gatos, Calif., and Enfield, Conn., the company specializes in outsourced solutions for active implantable devices in the areas of neuromodulation, drug delivery, cardiac rhythm management, ventricular assist, and minimally invasive devices. Cirtec is a portfolio company of Century Park Capital Partners.
 
Stellar Technologies is an ISO 9001- and 13485-certified, U.S. Food and Drug Administration-compliant manufacturer of precision components and assemblies for medical applications. Stellar specializes in component manufacturing, including micro machining, medical machining, neuro lead wire assembly, device assembly, delivery systems, laser tube cutting, laser welding, laser assembly, Swiss machining, clean room assembly and wire coiling.
 
Century Park Capital Partners is a Los Angeles, Calif.-based private equity firm that partners with management to build successful companies. The firm specializes in facilitating owner liquidity and business expansion by providing $10 million to $40 million equity investments for minority and majority recapitalizations, growth financings, management-led buyouts and acquisition financings. Century Park seeks to support management in accelerating the growth curve of well-positioned companies by investing in infrastructure, internal growth initiatives, and strategic acquisitions.