CRANSTON – Manufacturer Cadence Inc. has partnered with Connecticut-based Utitec Inc. and Cleveland investment banking and financial advisory firm Brown Gibbons Lang & Co. LLC as the firm expands its presence in the health manufacturing sphere.
In the same Feb. 21 announcement, Brown Gibbons said it would also partner with Utitec, a manufacturer of medical devices and commercial components based in Watertown, Conn., with an additional facility in Costa Rica.
Cadence, which has a location at 2080 Plainfield Pike in Cranston, is a medical device and specialty industrial manufacturer headquartered in Virginia.
In the announcement, the companies said that Cadence’s partnership with Utitec “furthers Cadence’s commitment to vertical integration and its position as a full-service contract manufacturing partner.”
The companies did not disclose financial details of the transaction.
Jacquelyn Voghel is a PBN staff writer. You may reach her at Voghel@PBN.com.
