Salt Creek Capital Acquires MML Diagnostics Packaging in Strategic Deal

Salt Creek Capital, a San Francisco Bay Area-based private equity firm, announces the acquisition of MML Diagnostics Packaging, Inc., a trusted contract manufacturer and packager serving the medical diagnostics and single-use medical device markets on May 19, 2026. The transaction marks a strategic partnership designed to accelerate MML’s growth while maintaining its longstanding commitment to quality and customer service.

Founded in 1964 and headquartered in Troutdale, Oregon, MML Diagnostics Packaging operates an FDA-registered, ISO 13485:2016-certified manufacturing facility. The company specializes in producing specimen collection swabs and offers a broad range of contract packaging services, including specimen collection kits, wound care dressing packaging, and reagent formulation. MML’s wholly owned subsidiary, APCO Technologies, supports manufacturing operations through in-house automated equipment design and maintenance.

Salt Creek Capital’s acquisition involves a full ownership stake, although financial terms were not disclosed. The private equity firm focuses on investing in profitable lower middle market companies with revenues up to $150 million, partnering closely with management teams to drive operational improvements and growth.

Geoffrey Pestes, recently appointed CEO after more than a decade leading MML’s operations, emphasized the company’s legacy: “MML’s reputation has been built over six decades on quality, reliability, and deep partnerships with our customers and employees. Our team is energized to continue that tradition while working alongside Salt Creek Capital to build on the strong foundation my family created.” His father, Dale Pestes, who led the company for 30 years, expressed confidence in the partnership, highlighting Salt Creek Capital’s alignment with the company’s long-term values and commitment to employees and customers.

Jordan Stankowski, Managing Director and Operating Partner at Salt Creek Capital, noted, “MML’s 60-year track record reflects exceptional leadership and a dedicated team. In a market where quality and reliability are non-negotiable, MML has consistently delivered, earning perfect supplier ratings and long-term customer loyalty. We look forward to supporting Geoff and the MML team in this next chapter.”

The acquisition positions MML to leverage Salt Creek Capital’s resources to expand its customer base and accelerate growth initiatives. Operational synergies include optimizing procurement, streamlining overhead, and investing in facility expansions and technology upgrades. Maintaining MML’s customer-first culture and experienced workforce remains a priority during integration.

The medical diagnostics and single-use device packaging market demands high regulatory compliance and technical expertise, areas where MML has established a strong reputation. This deal strengthens MML’s competitive position amid increasing demand for reliable contract manufacturing solutions in healthcare.

Looking ahead, Salt Creek Capital plans to support MML’s scaling efforts and broaden service offerings while preserving operational discipline. The partnership aims to enhance MML’s market presence and deliver continued value to customers and employees alike.