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|Lubrizol Acquires Vesta|
Expands company's application capabilities offered to life science market
CLEVELAND, August 1, 2014 -The Lubrizol Corporation announces that it has acquired Vesta, a leading contract manufacturer for the global medical device industry. This acquisition broadens Lubrizol's life science manufacturing capabilities, applications and material portfolio with access to silicone and a variety of other thermoplastics utilized in medical devices.
Headquartered in Franklin, WI, Vesta has three manufacturing locations in the U.S. and offers disposable silicone medical components, providing silicone molding, extrusion, sheeting, dip-casting and assembly services. As a full service provider to medical device original equipment manufacturers, Vesta also supplies precision thermoplastic extruded tubing, assemblies and secondary operations to its medical device customers. Vesta has a long history of medical design engineering experience with clinical device applications in cardiology, urology, wound care and bariatrics.
"The addition of Vesta significantly enhances our life science offerings through the combination of strong polymer technology, applications know-how and world class component manufacturing," stated Deb Langer, general manager, Lubrizol LifeSciences. "As medical device companies look for total solution providers, the expertise and capabilities of Vesta give us the ability to provide a more valuable offering to these customers on a global basis."
Previously owned by RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the healthcare industry, Vesta will now be part of Lubrizol Advanced Materials. Financial terms of the transaction were not disclosed.
About The Lubrizol Corporation
With headquarters in Wickliffe, Ohio, The Lubrizol Corporation owns and operates manufacturing facilities in 17 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 7,500 employees worldwide. Revenues for 2013 were $6.4 billion. For more information, visit www.lubrizol.com.