Sheridan Capital Partners announced that its portfolio company Currier Plastics has completed the acquisitions of Springboard Manufacturing and MOS Plastics, two medical contract manufacturers that will be fully integrated into Currier. Financial terms were not disclosed.
Springboard, based in Rancho Cordova, California, provides contract manufacturing services for life sciences customers, including custom-molded precision components, tooling, assembly, and cleanroom manufacturing. The company has more than 200 employees across two facilities totaling about 140,000 square feet, including Class 8 cleanroom space.
MOS Plastics, based in San Jose, California, manufactures custom-molded precision components, tooling, and sub-assemblies primarily for pharmaceutical, medical technology, and diagnostic customers. MOS has more than 120 employees in a 55,000-square-foot facility with Class 8 and Class 7 cleanroom manufacturing and device assembly capabilities.
Currier said the acquisitions add significant cleanroom capacity, adjacent services, and a West Coast presence while deepening expertise across pharma, medical device, and diagnostics end markets. Sheridan said executing two add-ons early in its ownership period accelerates its value-creation plan for Currier and is expected to create scale benefits for the combined business.
As part of the deal, former Springboard CEO John Weber joined Currier’s board. Springboard’s prior owner, HC Private Investments, became a material shareholder in Currier. Fidelity provided debt financing, and multiple advisors supported the transactions, including McDermott Will & Schulte as legal counsel to Sheridan and Currier.
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“We are very excited to integrate Springboard and MOS into the Currier business. Our customers will benefit from the addition of significant cleanroom capacity, adjacent services, a West Coast footprint, and strong expertise serving pharmaceutical, medical device and diagnostic customers.”
Andrew McLean, CEO, Currier Plastics
“The additions of Springboard and MOS will strengthen Currier’s position as a valued partner to a wider array of life sciences customers while also resulting in significant economies of scale. Completing these acquisitions so early in our ownership period accelerates our value creation plan for Currier while also providing new opportunities for employees and customers of the combined business.”
Sean Dempsey, Co-founder and Partner, Sheridan Capital Partners
“Both Springboard and MOS will be better positioned to realize their full potential as part of Currier, benefiting from a dedicated sales force that neither business previously had, as well as operational resources that have enabled Currier to earn its strong reputation for quality and service.”
John Weber, Former CEO, Springboard Manufacturing; Board Member, Currier Plastics
