GenNx360 Capital Partners has made an investment in Tooling Technology, a manufacturer of tooling and automation systems. This transaction represents the third investment for GenNx360 Capital Partners’ Fund II.
Tooling Technology is a manufacturer of tooling and automation systems utilizing thermoforming, twin-sheet and single-sheet vacuum forming, pressure forming, compression molding, rotational molding, blow molding, resin transfer molding, rubber and polyurethane molding, carpet and metal stamping, foundry tooling and pulp molding. The company sells its products to companies in the industrial machinery and components, oil and gas, logistics and supply chain management, agricultural, specialty chemicals, and aerospace sectors. Tooling Technology is fully integrated with design, pattern-making, prototyping, machining, casting and finishing capabilities. The company employs approximately 100 people and has production facilities in Fort Loramie and Fremont, OH and an engineering design facility in Grand Rapids, MI. Tooling Technology was founded in 1982 and is headquartered north of Dayton in Fort Loramie, OH (www.toolingtechonline.com).
“We strongly believe in the megatrends that drive Tooling Tech’s business. Re-shoring of industrial manufacturing to the US and strong automotive trends will continue to drive industry growth,” says Matt Guenther, the GenNx360 Partner who led the transaction. “With its multiple processing capabilities, excellent track record and customer responsiveness, Tooling Tech is well positioned to benefit from continuing market demand. We expect to build on Tooling Tech’s strengths by leveraging our operational expertise and executing on identified opportunities, both organically and through add-on acquisitions.”
GenNx360 Capital Partners is a private equity firm focused on investing in industrial business-to-business companies in the middle market. Sectors of interest include industrial machinery and components, oil and gas, logistics and supply chain management, agricultural, specialty chemicals, and aerospace sectors. GenNx360 was founded in 2006 and is headquartered in New York with additional offices in Seattle and Boston (www.gennx360.com).
“As we enter our next phase of growth, we are extremely excited to partner with GenNx360. Its significant experience in growing companies, its industry relationships and deep operational expertise will help us immensely in our continued growth efforts,” said Tooling Technology’s Founder and CEO, Tony Seger.
2014 PEPD • Private Equity’s Leading News Magazine • 7-23-14
