Vesta, a Franklin-based contract manufacturer for the global medical device industry, has been acquired by Wickliffe, Ohio-based The Lubrizol Corp., a Berkshire Hathaway company.
The 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.
Vesta’s manufacturing locations in Franklin, Montana and California will remain open. The company has 450 employees, including 300 in Franklin.
“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,” said 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 health care industry, Vesta will now be part of Lubrizol Advanced Materials. Financial terms of the transaction were not disclosed.
Founded in 1928, Lubrizol has approximately 7,500 employees worldwide and annual revenues of $6.4 billion.