MCM Capital Partners Acquires Octex
Cleveland, OH – MCM Capital Partners (“MCM”), a micro-cap private equity firm based in Cleveland, Ohio, is pleased to announce its acquisition of Octex, based in Sarasota, FL.
Octex is an ISO 13485-certified custom injection molder specializing in highly engineered thermoplastic components for medical device, life sciences, and technically demanding industrial customers. The Company operates from a well-appointed 60,000 square-foot manufacturing facility, providing precision injection molding, tooling, product development, and validation services. Through its wholly owned subsidiary, Omnia Scientific, Octex also offers industry-leading computed tomography (CT) scanning, dimensional inspection, and reverse engineering services that complement its molding operations while serving a growing base of third-party customers.
The opportunity was directly sourced by the MCM team, the culmination of a relationship with Octex’s ownership dating back to 2016. Partnering with MCM will provide Octex with additional capital and resources to invest in business development, deepen its commercial infrastructure, and pursue strategic acquisitions that broaden its technical capabilities and customer relationships.
“When we first met Jim and toured his facility almost a decade ago it was readily apparent Octex fit exactly what we look for in a partner, a business with a clear differentiation in the marketplace built on decades of precision and a reputation customers trust,” said Bobby Kingsbury, Managing Partner at MCM Capital. “Our goal is to honor what Jim and the team have created and give it room to grow, by adding capacity, pursuing the right acquisitions, and investing behind the people who make Octex successful. We couldn’t be more excited to partner with the Octex team on the next chapter.”
Josh Palmer, President of Octex, commented, “Over the years, Octex has built a capable team and a strong platform in contract manufacturing and metrology. We chose MCM for their aligned values and extensive experience scaling manufacturing businesses – investing in equipment, developing people, and driving operational improvement. Together we will accelerate growth and strengthen our position as a preferred partner for OEMs in demanding industries.”
Jim Westman, CEO and outgoing owner of Octex, added, “I’ve known the principals at MCM for over 10 years and, I believe, there is no better partner to assume control of the strategic and operational future of Octex. MCM has a strong track record of success in building companies in our industry. I trust them to not only manage what has already been built, but to continue to improve the company I am so proud of.”
Octex is the third platform investment in MCM Capital Partners IV, L.P., and MCM’s fourth platform investment in the plastic injection molding industry. Greg Ott, MCM’s Senior Operating Partner, will serve as Chairman of the Board for Octex; Greg previously led MCM’s management of Performance Plastics and currently serves as Chairman of AIM Processing and Tech NH. Calfee, Halter & Griswold LLP served as legal counsel and Key Bank was the senior lender on the transaction.
About MCM Capital Partners
For three decades, MCM has partnered with lower middle market businesses to support and accelerate growth, creating opportunities for business owners and their employees. We drive growth by applying a unique and powerful approach, going far beyond a “deal” mindset to inject extensive market and technology insights, along with proven best practices in operations, finance, and business development.
If you would like more information about this transaction or MCM’s acquisition criteria, please call Chris Hren at 216-514-1848, or email [email protected].
