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December 5, 2025 12:00 AM | Covington Associates
December 5, 2025 (Boston, MA) – Covington Associates, a leading middle-market investment bank, announced its role as financial advisor to Argos Corporation, a Massachusetts-based precision extrusion company, in the sale of its company to Aptyx, a leader in designing, developing, and manufacturing complex devices and components for the life sciences industry. This acquisition establishes a new Precision Extrusion Center of Excellence, adding immediate capacity, advanced technologies, and in-house engineering expertise to support interventional innovation.
“This marks another milestone in our growth strategy, further enhancing our ability to provide integrated expertise and innovation for our OEM life science customers,” said Gregg Tobin, president and CEO of Aptyx. “This new center perfectly complements our Interventional Center of Excellence in Charlotte, where we have a long history of supporting complex transcatheter implants and delivery systems from early design to finished device manufacturing.”
The company noted the addition of the Boston-area Precision Extrusion Center of Excellence expands on its ability to serve the interventional and catheter-based device markets with speed, precision, and scalability. The new facility complements Aptyx’s portfolio of capabilities, which includes molding, extrusion, coating solutions, and finished device assembly.
“We’re committed to conquering technical challenges and advancing what’s possible in medical tubing,” said Patrick Daly, director, global extrusion at Aptyx. “This expansion deepens our extrusion expertise and enhances how we bring specialized strengths together across Aptyx to drive Medtech advancement.”
About Covington Associates
Covington Associates is an investment banking firm offering advisory services in mergers and acquisitions (M&A), capital raising, and strategic advisory for middle-market companies across Healthcare, Business Services, Consumer & Industrial, and Technology sectors. Established in 1991 and headquartered in Boston, Covington has successfully completed over 350 transactions globally for private and publicly traded companies, totaling more than $30 billion.
About Argos Corporation
Argos Corp. is an ISO 13485–certified custom extrusion company with more than 25 years of experience in small-diameter medical tubing and precision thermoplastic profiles. The company specializes in microbore catheter shafts, liners, co-extrusions, multi-lumen tubing, taper tubing, and heat-shrink products, with expertise in advanced polymers such as TPU, TPE, Pebax, polycarbonate, nylons, polyolefins, PVDF, and other fluoropolymers.
About Aptyx
Aptyx manufactures complex components and devices for the life sciences industry. It operates dedicated production facilities across the United States, Canada, Mexico, and China. Formerly Molded Devices Inc., the company rebranded as Aptyx.
About TruArc
TruArc Partners is a private equity firm focused on middle-market control investments in specialty manufacturing and business services. The firm collaborates with portfolio management teams to create value through transformational growth strategies.
Argos acquired by Aptyx, a portfolio company of TruArc Partners
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