Cretex Companies Acquires Spectralytics

ELK RIVER, Minn.--()--Cretex Companies (www.cretex.com) today announced that is has acquired the assets of Spectralytics, Inc. (www.spectralytics.com), a contract manufacturing provider of laser-based services to the medical device industry.

“We are delighted to add Spectralytics to our Cretex Medical group,” said Lynn Schuler, Chief Executive Officer of Cretex Companies, Inc. “Spectralytics brings laser cutting, drilling, and welding to our already-extensive portfolio of tight tolerance, precision manufacturing capabilities. We are also pleased that Gary Oberg, the founder of Spectralytics, will continue to lead the company.”

Located in Dassell, MN, Spectralytics specializes in stent production, laser ablation, laser marking, and drilling of close tolerance holes required for catheters and embolic protection devices. Spectralytics works with multiple materials, including metals, polymers, and bioabsorbable polymers and composites.

Terms of the acquisition were not disclosed.

About Cretex Companies, Inc.
Cretex, established in 1917, is a privately held, diversified manufacturing company headquartered in Elk River, Minnesota. The company’s subsidiaries operate in four major markets: medical, aerospace & defense, industrial, and infrastructure. rms, rms Surgical, Meier, JunoPacific, Spectralytics and Elk River Machine Company provide contract manufacturing services to OEMs requiring precision machining, metal stamping and fabrication, laser processing, plastic molding, medical device assembly and packaging, and heavy gauge metal machining and fabrication. Cretex Concrete Products provides reinforced concrete pipe, concrete bridge components, and other precast and prestressed concrete products serving the infrastructure needs of the central United States. Cretex Companies employs about 2,000 people in 36 locations in 11 states.

Contacts

Kay Lau & Associates
Victoria DyBuncio, 310-278-2200
victoria@kaylau.com
or
Cretex Companies, Inc.
Steven J. Ragaller, 763-241-8231
sragaller@cretex.com

Release Summary

Cretex Companies announced that it has acquired Spectralytics, a contract manufacturer of laser-based services for the medical device industry.

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Contacts

Kay Lau & Associates
Victoria DyBuncio, 310-278-2200
victoria@kaylau.com
or
Cretex Companies, Inc.
Steven J. Ragaller, 763-241-8231
sragaller@cretex.com