SAN JOSE, Calif., Dec. 7, 2020 /PRNewswire/ — Vander-Bend Manufacturing, Inc. (“Vander-Bend”), a portfolio company of Aterian Investment Partners (“Aterian”), is pleased to announce the acquisition of Swiss Precision Machining, Inc. (“SPM” or the “Company”).
Based in Wheeling, Illinois, SPM is a precision manufacturer of consumable instrument components utilized in robotic surgery and other high technology end markets. The Company’s core capabilities include CNC swiss screw machined tight tolerance micro components and accessories, prototyping, engineering, assembly, among others. These products are core to supporting the mobility, tolerance and dexterity of consumable medical instruments. SPM represents the third medical technology add-on acquisition for Vander-Bend within the last two years.
The acquisition of SPM by Vander-Bend is highly strategic: SPM introduces consumable medical instruments into the Vander-Bend product mix, making the combined company a leading prototype developer and full scale producer of both capital equipment and instrument consumables used in robotic surgery and other high technology end markets. SPM also brings new swiss screw manufacturing capabilities, a new market region and additional new synergistic medical customer accounts. In less than three years since Aterian’s acquisition of Vander-Bend in May 2018, Vander-Bend has acquired three medical technology businesses, established and fully commercialized two new production facilities in Stockton and San Jose, California, completed substantial capital equipment expansion and significantly invested in human capital throughout the organization. Vander-Bend now operates six facilities across the West Coast and Midwest and employs more than 900 people.
“We are excited to partner with SPM and welcome them to the Vander-Bend family,” stated Greg Biggs, Chief Executive Officer at Vander-Bend. “SPM has a longstanding history of providing exceptional products to market leading customers, and its expertise in specialized instrument manufacturing will complement Vander-bend’s existing prototyping to full scale med-tech and high-tech focused production capabilities. Through the acquisition of SPM, Vander-Bend will also expand its medical commercial relationships, allowing us to better serve our broader industry and continue our growth trajectory.”
Michael Haupers, the owner of SPM, stated “This investment will continue the vision of SPM that we had when our family founded the business. Both companies were family-founded and through years of refinement each developed a professional culture capable of producing industry leading products with unmatched quality to world-class customers in exciting growth industries. We are confident that the partnership with Vander-Bend, combining two companies with similar stories, is the right choice to facilitate the continued growth of SPM. My family and I have deep gratitude for the years of support from our customers, vendors and especially our employees. We couldn’t be prouder of the SPM team and all of its contributions to the business.”
Brandon Bethea, Co-Founder and Partner at Aterian, said “We are excited for Vander-Bend to complete this acquisition. Since making our investment in 2018, our objective has been to facilitate Vander-Bend’s transformation into a differentiated partner and supplier to industry leading medical and other high technology customers. The combination with SPM is a key step along that strategic journey and creates a unique platform in the med-tech and datacenter infrastructure end markets. We would also like to congratulate Mike Haupers and the entire Haupers family for building a truly extraordinary business. Meeting families like theirs is the best part of our job and we are both humbled and thrilled for the opportunity to work alongside the talented SPM team as we move forward together.”
Daniel Phan, Principal at Aterian, said “This transaction exemplifies Aterian’s track record of investing in attractive family-founded businesses. We look forward to working with the combined company on its operational and growth initiatives, as well as continuing to pursue further strategic acquisitions.”
Ventoux Securities and Baird advised Aterian on the acquisition, Goldman Sachs Bank USA advised Aterian on the transaction financing, and Weil Gotshal & Manges LLP advised Aterian on the legal aspects of this transaction.
About Swiss Precision Machining
Founded in 1979 and based in Wheeling, Illinois, SPM is a high-precision manufacturer of components, assembles and accessories utilized in the robotic surgery and other high technology end markets. The Company has a longstanding history of providing highly complex and tight tolerance medical components with capabilities including CNC swiss screw machining, prototyping, engineering and assembly with rigorous quality standards.
For more information, please visit http://spmswiss.com
About Vander-Bend Manufacturing
Headquartered in San Jose, California, Vander-Bend specializes in providing manufacturing solutions to its customers operating in high growth and dynamic end markets. Vander-Bend has been serving its customers for nearly 40 years and provides prototyping and development support, followed by complex manufacturing adhering to the highest quality standards.
For more information, please visit http://www.vander-bend.com