Dayton company acquires medical manufacturing firm

GEMCITY Engineering and Manufacturing (GEM), a Dayton contract manufacturer, acquired Vistek Medical, a contract manufacturer of medical components based in Ivyland, Pa., GEM said today, May 28.

This acquisition is part of a growth strategy for GEM in partnership with Riverside Partners, a Boston private equity firm. Riverside is the majority owner of GEM and provided the financing for the acquisition, both firms said in an announcement.

“We are delighted to add the specialized medical precision machining capabilities of Vistek to GEM’s manufacturing expertise,” Jim Whalen, GEM’s chief executive, said in the company’s statement. “Vistek’s reputation for quality and its customer service orientation are a strong fit with GEM’s culture.”

Vince Visco, founder of Vistek, will join the GEM executive team and continue to manage the Vistek operations, the release said.

The combined companies will have plants in Ohio, Pennsylvania and Thailand.

GEM was founded in Dayton in 1936 and serves customers in 18 countries from manufacturing facilities in Ohio and Thailand.

Riverside Partners have managed more than $500 million in investments in over 50 companies. The firm is focused on companies with revenues between $20-200 million, the business said.

Contact this reporter at (937) 225-2390 or tgnau@DaytonDailyNews.com.

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About the Author

Thomas Gnau

Thomas Gnau is a business reporter who joined the Dayton Daily News in 2007. He has reported for daily newspapers in Ohio since 1991.