Micron moves on growth opportunities
Despite its status as a subsidiary of a medical software company, Micron Tools in Fitchburg has undergone substantial growth, capping off a healthy 2006 with the acquisition of a Leominster mold maker.
Earlier this month, Micron acquired the assets of Leominster Tool Company, a family-owned company since 1923, helping the manufacturer build up both its employee headcount and its opportunities for growth.
As the largest manufacturer of silver/silver-chloride sensors for the medical device industry, Micron has thrived as a wholly owned subsidiary of Arrhythmia Research Technology (ART). ART provides software for the medical industry in the detection of irregular heartbeats, but most of the company’s growth is chalked up to Micron and its track record of expansion through acquisitions and high-volume product lines.
In 2004, Micron acquired New England Molders, and moved the Shrewsbury-based company to its Fitchburg headquarters creating a new division, NEM, that specialized in thermoplastic injection molding for the medical device industry, complementing Micron’s existing product line. With the purchase of Leominster Tool Company, Micron added new capabilities.
After bringing Leominster Tool and its 12 employees on board, Micron’s staff of 88 grew to 100. All employees of the Leominster firm will stay at their current facility for the foreseeable future, says David Garrison, chief financial officer of ART. The owners of Leominster Tool, David and Michael Bergeron, are also staying. David was named general manager of the new division of Micron.
"It’s the same people running it at the same location doing the same thing," says Micron’s president and CEO James Rouse. "There’s just a different name on the paychecks."
Leominster Tool specializes in aluminum blow molds, steel die-casting, and production and prototype mold production for the plastics industry. David Bergeron says Micron "wanted to acquire us as a running, functioning business to complement their needs, Leominster Tool can help Micron, both in supporting the business they have and in gaining new business."
Another benefit is Leominster Tool’s ability to design and manufacture new molds. Micron could not make a mold from scratch, says Rouse, and could only perform maintenance on existing molds. The company now has greater flexibility to accept new contracts, and increase the business done with clients of the acquired firm who can now access the capabilities of Micron. Leominster Tool offers quick turnaround on repair work, and can manufacture new molds as needed, Bergeron says.
"We’re always keeping an eye out for the acquisition that will fit," says Rouse. "We won’t do it just for the sake of acquiring."
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