Vance Street picks up Motion Dynamics as second investment from Fund II

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drive-gear-gears-technology-48174LA-based private equity firm Vance Street Capital has tapped its latest buyout vehicle to invest in US high-precision manufacturing business Motion Dynamics Corp.

A spokesperson for Vance Street declined to comment on financial details of the deal when contacted by AltAssets.

The Fruitport, Michigan-based company is a provider of precision wire-based components primarily for the medical device, industrial and aerospace sectors.

John LeRosen, Principal at Vance Street, said in a statement, “The Motion Dynamics opportunity is a perfect situation for Vance Street to support a world-class management team that has positioned the company in attractive, high-growth end markets with a strong focus on providing customers the highest level of design and complex manufacturing services.”

Motion Dynamics is the second investment of Vance Street Capital Fund II following the acquisition of medical device maker A&E Medical in February.

The firm launched its second pool in February 2015 targeting $350m. A corresponding SEC filing from the same month does not show any capital commitments to the fund.

There has been no update on the fundraising from the Vance Street to date.

The mid-market buyout house focuses on platform investments with enterprise values of between $30m and $200m in companies headquartered in the US and Canada and operating in the aerospace, defence, industrial and medical sectors.

Vance Street closed its maiden fund at $320m back in 2008.

The firm was founded in 2007 by former Aurora Capital executive Richard Crowell, who immediately brought on board fellow Aurora co-founder Richard Roeder as a managing partner.

The pair launched Aurora in 1991. Crowell had previously been a managing partner at New York-based investment fund Acadia Partners.

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