CRANSTON – Cadence Inc., the Staunton, Va.-headquartered end-to-end engineering and manufacturing service company with an operation in Cranston has entered an agreement to be acquired by private-equity firm Kohlberg & Company LLC, headquartered in Mount Kisco, N.Y., the company announced last week.
Kohlberg intends to maintain current Cadence operations and keep the company’s president and CEO, Alan Connor, and management team in place.
The company’s manufacturing is focused on medical devices, life science products and industrial products.
No changes to staffing levels were expected at the company’s Cranston facilities as a result of the acquisition. Cadence told PBN that it currently has 221 employees working for the company in Cranston, 13 of whom are temporary employees.
“Kohlberg’s reputation of investment success within the medical device manufacturing sector as well as its track record of fostering world-class operational performance makes them the ideal partner to help us accelerate Cadence’s plans for strategic growth,” said Connor.
Details of the sale were not disclosed.
Chris Bergenheim is the PBN web editor.