Yukon Backs Recap of Tooling Technology

Yukon Partners has provided mezzanine debt and an equity co-investment to Tooling Technology Group, a supplier of tooling used in a variety of material forming processes primarily for the automotive industry and a portfolio company GenNx360 Capital Partners since July 2014.

Tooling Technology’s products are used to produce a range of vehicle components including powertrains components, valve bodies, hood components, dashboard components, roof components, trunk components, and wheel liners. Non-automotive uses for the company’s tooling products include manufacturing refrigeration panels, kayaks, gas cans, water tanks, and small engines for lawn & garden equipment. The company’s customer base includes automotive OEMs, Tier I and II automotive suppliers, as well as consumer and industrial products companies. Tooling Technology was founded in 1982 and is headquartered north of Dayton in Fort Loramie, OH (www.toolingtechonline.com).

Since being acquired by GenNx360 in July 2014, Tooling Technology has completed two add-on acquisitions: In October 2015, it acquired St. Louis-based G.H. Tool & Mold, a designer and maker of tooling for die casters in the automotive, outdoor products and aerospace industries; and in May 2015, the company acquired Detroit-based Majestic Industries, a manufacturer of progressive and transfer dies used for stamping automotive parts.

“Tooling Technology’s manufacturing and engineering expertise, as well as its dedication to superior service, position the company as a critical partner to its blue-chip customer base,” said Michael Hall, Managing Partner of Yukon. “A number of factors are at play right now in the auto industry that provide a favorable backdrop for tooling manufacturers and we are excited to be partnering with GenNx360 and their industry leading platform in Tooling Technology, as they continue to execute their value-added strategy.”

“GenNx360 is excited to partner with Yukon as Tooling Technology enters its next phase of growth. Following strong organic growth and two successful add-on acquisitions in 2015, this recapitalization provides the company with a strong capital base going forward,” said Matt Guenther, Managing Partner of GenNx360.

GenNx360 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, logistics and supply chain solutions, industrial and environmental services, food and agricultural, infrastructure equipment and services, specialty chemicals, packaging, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York (www.gennx360.com).

Yukon Partners makes subordinated debt and equity investments of $10 million to $50 million in middle market, private equity sponsored business transactions. The firm is based in Minneapolis (www.yukonpartners.com).

© 2017 Private Equity Professional | August 17, 2017

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