Tooling Technology Holdings, a portfolio company of GenNx360 Capital Partners, has acquired automotive die manufacturer Majestic Industries.
Majestic is a manufacturer of progressive and transfer dies used for stamping automotive parts. The company designs, engineers, builds, and tests dies for both automotive original equipment manufacturers and Tier 1 automotive suppliers. Majestic was founded by Al Janiszewski in 1980 and is based in the Detroit suburb of Macomb Township (www.majesticind.net).
Tooling Technology, acquired by GenNx360 in July 2014, is a manufacturer of tooling and automation systems utilizing thermoforming, twin-sheet and single-sheet vacuum forming, pressure forming, and compression and rotational 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 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 (www.toolingtechonline.com).
The Majestic acquisition expands the tooling capabilities of Tooling Technology and allows the group to continue its expansion into different industries and positions the company as a one-stop tooling shop. “This acquisition vertically integrates the GenNx360 automotive tooling platform, expanding product diversity to the current offerings. Majestic’s strong engineering team and its well-entrenched OEM relationships will enable the platform to extend its footprint and market presence,” said Matthew Guenther, the GenNx360 Partner who led the transaction.
“Majestic is a great fit for us as it adds progressive die tooling capabilities to our offerings, expands our customer base and provides us with improved visibility in the supply chain,” says Tony Seger, CEO of Tooling Tech.
GenNx360 is a private equity firm focused on investing in industrial business-to-business companies in the middle market. Sectors of interest include aerospace & defense; automotive; building products; food & agriculture; healthcare; metals & mining; oil & gas and power; packaging, specialty chemicals; and transportation. GenNx360 was founded in 2006 and is headquartered in New York with an additional office in Boston (www.gennx360.com).
2015 PEPD • Private Equity’s Leading News Magazine • 5-27-15
