MINNEAPOLIS, MN - October 17, 2022 – Northborne Partners is pleased to announce that it served as the exclusive financial advisor to Mountain Manufacturing Technologies, Inc. (“Mountain”) on its acquisition by Wytech Industries, a portfolio company of Vance Street Capital LLC (“Vance Street”). Financial terms were not disclosed.
"As we searched for partners that could complement Wytech's position of high volume dead straight mandrels to the interventional market, we became very excited as we learned the depths of Mountain Manufacturing's mandrel expertise. From every aspect, Mountain's position as a specialty mandrel supplier for large diameter, hollow core, grooved mandrels and specialty metals is a perfect fit to Wytech's scale and volume," said Mike Janish, Managing Partner at Vance Street.
Mountain was founded in 1988 by Tom Berg and is headquartered in Lino Lakes, MN. The Company is a leading research & development-driven contract manufacturer with a full range of machining and fabricating capabilities for enhanced product design, prototyping, component manufacturing and volume production. Mountain's customers range from leading Tier 1 customers to start ups designing the most complex access, delivery and closure systems used with complex medical devices.
"For nearly 30 years we have grown as a medical device supplier through our expertise in advanced precision machining. Finding an investment partner that shared our vision for growth, passion for innovation and employee values was very important to me," said Tom Berg, Founder of Mountain.
Regarding Northborne’s involvement in the transaction, Tom added, “The Northborne Partners team was heavily involved throughout the process, from articulating the Company’s value, to sourcing and evaluating offers, to leading negotiations and managing the due diligence process. Mike Hirschberg and Ken Higgins proved to be invaluable resources and remained staunch advocates for Mountain throughout the process.”
Mike Hirschberg, Director at Northborne, commented, “Tom and his team possess tremendously unique and valuable capabilities that were highly coveted. For decades, Mountain has been a reliable, trusted supplier of critical components to its customers. It was a privilege to work with the Mountain team to find the right partner to support future growth and complement Mountain’s existing expertise.”
"As Wytech continues to grow our customer based in Structural Heart and Electrophysiology markets, the requests for specialized mandrels have grown considerably. With the Mountain acquisition, we can now support mandrels of all sizes, shapes, and materials. We are also excited to leverage Mountain's vast experience for making precision tooling that improves the productivity of heat setting and electropolishing implants and medical instruments," said Dave Ohmann, CEO at Wytech.
Ballard Spahr LLP (“Ballard Spahr”) served as legal counsel and Redpath & Co., Ltd. (“Redpath”) provided accounting and tax advisory services to Mountain. Paul Hasting LLP served as legal advisor for Vance Street and Wytech.
About Northborne Partners
Northborne Partners is a preeminent middle market investment banking firm focused on providing M&A advisory services to companies in the healthcare, industrials and consumer sectors, among others. It focuses on advising private business owners in the sale of their companies and has decades of experience sitting across the table from the most seasoned strategic and private equity buyers in the world. Northborne Partners is headquartered in Minneapolis, MN. For more information, please visit www.northborne.com.
Mountain is a leading research & development-driven contract manufacturer with a full range of machining and fabricating capabilities for enhanced product design, prototyping, component manufacturing and volume production. Located in Lino Lakes, MN, Mountain is ISO 13485:2016 certified and an FDA Registered Manufacturing Facility. For more information, please visit www.mountainmfg.net.
About Vance Street
Vance Street Capital is a middle-market private equity firm focused on investing in highly engineered solutions businesses across the medical, aerospace, defense and industrial sectors. For over two decades, Vance Street’s partners have worked with management teams and family owners to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information please visit: http://www.vancestreetcapital.com.
About Ballard Spahr
Ballard Spahr LLP, an AmLaw 100 law firm with more than 600 lawyers in 15 U.S. offices, serves clients across industry sectors in litigation, transactions and regulatory compliance. Its M&A attorneys represent buyers and sellers ranging from small, privately held companies to multinational public companies in transactions that span the lower-middle and middle markets to multi-billion dollar mergers. The scale of its practice and depth of deal experience enables the firm to provide cost-effective, focused solutions that meet the unique requirements of every client and transaction, no matter the deal type, company size or industry. To learn more, visit www.ballardspahr.com.
Redpath and Company helps clients make more informed decisions that contribute to their financial well-being by providing proactive, innovative and value-driven CPA and advisory services for closely-held businesses, private equity, government entities and nonprofit organizations. Areas of service expertise include audit and assurance; personal, business and international tax; state and local tax; sales and use tax; and succession and estate planning. Redpath also guides clients throughout the entire business life cycle with performance optimization and process improvement; M&A advisory, including corporate and deal strategy, due diligence, financial modeling and M&A integration; accounting and management outsourcing; and valuations.
The firm was founded in 1971 and is 100% employee owned (ESOP). With offices located in St. Paul and White Bear Lake, Minnesota, the firm ranks as one of the top CPA and advisory firms in Minnesota.
Redpath is a member of HLB International, a global network of independent advisory and accounting firms. To learn more, visit www.redpathcpas.com.
Website includes transactions completed by Northborne professionals at prior firms.