Local light engineering company bought by Philadelphia-based private investment firm
Smithstown Light Engineering bought by Graham Partners
A LOCAL light engineering company has been acquired by a Philadelphia-based private investment firm.
Smithstown Light Engineering, which is headquartered in Shannon, has been taken over by Graham Partners, based in the American state of Pennsylvania.
Smithstown Light Enginering is a medical device manufacturer specialising in highly engineered, machined components and sub-assemblies for orthopedic, endoscopic, vascular, and neurological surgical applications, among others.
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Staff at the company provide end-to-end manufacturing solutions — from early-stage design to full-scale production — to medical device customers globally.
Founded more than 50 years ago, Smithstown Light Engineering has two facilities, with its other one in Poland.
It serves a customer base of leading medical device companies from around the world.
Graham Partners has prior experience partnering with outsourced medical device manufacturing companies through its investments in Velosity and Medbio and its managing partner Joe Heinmiller believes it can leverage this experience with Smithstown Light Enginering.
“We have been tracking the outsourced medical device manufacturing space for over a decade and have conviction that Smithstown Light Engineering is well-positioned for future growth due to its differentiated manufacturing capabilities, operational expertise, and new product development capabilities," he said.
Megan Barsella, vice-president at Graham Partners, added: "Graham is deeply committed to partnering with family-owned businesses and is excited to support Smithstown Light Engineering on this next phase of its journey."