Industrial Opportunities Partners Acquires WEK Industries

Industrial Opportunities Partners Acquires WEK Industries

wek nf1Toledo Molding & Die, a portfolio company of Industrial Opportunities Partners acquired in November 2011, has acquired blow molder WEK Industries.

WEK Industries is a provider of engineered blow molded components and assemblies to the automotive industry. WEK was a part of Myers Industries’ Engineered Products Segment. WEK has locations in Jefferson, OH (headquarters) and Reidsville, NC (

Toledo Molding & Die is an automotive supplier that designs, develops and manufactures highly engineered molded thermoplastic components and assemblies such as interior cockpit modules and air and fluid management products. The company also designs and builds molds and related tools for its injection and blow molded components. TMD has approximately 1,000 employees and operates out of six facilities in Ohio. The company is headquartered in Toledo (

gottlieb nf1“We are excited to support our platform investment in TMD with the strategic acquisition of WEK. We believe TMD is positioned for growth both internally and through strategic acquisitions such as WEK. WEK represents TMD’s first acquisition since IOP invested in TMD in 2011,” said Adam Gottlieb, Senior Managing Director of IOP.

IOP focuses on acquiring middle-market manufacturing and value-added distribution businesses, typically with revenues between $30 million and $350 million. IOP targets businesses with strong product, customer, and market positions and provides management and operational resources to support sales growth and operational improvements. The firm has $460 million of committed capital and was founded in 2005. IOP is headquartered in the Chicago suburb of Evanston (

Western Reserve Partners ( served as the exclusive financial advisor to Myers Industries on the sale of WEK Industries.  The transaction team for Western Reserve Partners included Managing Director Kevin Mayer and Director Matt Mueller of the firm’s Industrial Group, supported by Analyst Kevin Harper. This represents the second automotive industry divestiture Western Reserve has advised on this quarter. Western Reserve also advised Stoneridge (NYSE: SRI) in the divestiture of its Wiring Business segment, which was announced in May.

“This was a highly competitive process with several parties showing strong interest in the business. In the end, TMD was the best partner for the business, and the transaction allows Myers to continue to focus on its core businesses,” said Mr. Mayer.

2014 PEPD • Private Equity’s Leading News Magazine • 6-24-14

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