A CTW technician explores in-house tooling and fixture fabrication.

Boston-based private equity firm Riverside Partners has acquired contract manufacturing company CTW Inc. The acquisition of the CTW, which focuses on orthopedics, was done on behalf of one of Riverside’s portfolio companies, Tegra Medical (Franklin, MA). CTW will use resources from Tegra’s organizational infrastructure to expand its penetration into the orthopedic market.
The newly acquired company collaborates with medical device OEMs to manufacture highly engineered medical devices and components. CTW assists clients in improving design for manufacturability, assembly, and time to market. CTW’s work is mostly seen in spine, trauma, knee, hip, and dental applications.

“Riverside is very excited to invest additional capital and continue to back the existing management team at CTW as they continue to grow,” says Riverside general partner Philip Borden. “CTW’s strong position in the spine and trauma specialties, its long-term customer relationships, and its world-class manufacturing facility make it a perfect fit.”

Management at CTW was equally pleased about the acquisition thanks to the additional resources the firm will gain through the move. CTW president Dale Cole Jr. said that “Riverside can provide additional capital and resources to help the company continue its strong growth.” He also cited Tegra’s existing resources, including sales and marketing tools, as key elements in his company’s growth.

“Riverside’s healthcare investment and operating experience has been extremely helpful since the founding of Tegra Medical,” says Gerald Mazzenga, Tegra’s CEO. The company was founded in 2007 from the combination of New England Precision Grinding, Accu-Met Laser, and American Medical Instruments. “Our partnership with Riverside allows us to invest in the necessary infrastructure so that Tegra can continue to provide innovative products with industry-leading quality and service. We are very excited about our partnership with CTW and are pleased to be working with Dale and his team.”

CTW is based in Hernando, MS. In addition to contract manufacturing, it offers a variety of services for OEMs in the orthopedic market, including Swiss-style turning, multiaccess CNC milling, and electrical-discharge machining. The firm also offers gun drilling, laser processing, and other secondary operations. —Lawrence Lloyd