The plant floor at Relius Medical in 2016. Eptam Plastics, owned by Boston-based New Heritage Capital, bought Relius in November
the gazette file
A New Hampshire plastics manufacturer has acquired most assets of Relius Medical, a Colorado Springs contract medical manufacturer, to add machined metal components to its product line.
Eptam Plastics, owned by Boston-based New Heritage Capital, bought Relius in November after a common customer introduced the firms months earlier, said Judson Samuels, a New Heritage partner. Terms of the transaction were not disclosed, but Eptam retained Relius employees and will remain in the Springs, Samuels said. He declined to say how many people the company employs; Relius employed 125 two years ago.
“Eptam manufactures plastic components, and Relius focuses on metal components. We have rebranded the company as Eptam Precision to reflect that this acquisition adds to the capabilities of both companies,” Samuels said.
“We very much envision a growth plan with the combination of the two companies. The overlap of customers and the complementary capabilities will lead to great growth in the future.”
New Heritage specializes in acquiring companies in health care, manufacturing and business services, and it acquired 70 percent of Eptam in 2014.
The company machines and fabricates high-quality plastic components to exacting specifications for the aerospace, energy, industrial, medical and semiconductor industries. New Heritage typically invests $15 million to $40 million in midmarket-size private companies.
Lauralee Martin started Relius in 2015 after she left as CEO of HCP, a real estate investment trust that specializes in medical properties.
Relius acquired the assets of defunct medical manufacturer Magnum Tool and hired many of Magnum’s former employees to make parts such as surgical nails and other implants for about a dozen medical device companies, including Johnson & Johnson. Samuels said Martin retired after the Relius transaction was completed.