Tooling Tech Acquires GH Tool
This deal increases their footprint in the automotive sector and widens their reach in the southern U.S. and Mexico.
Posted: November 4, 2015
GenNx360 Capital Partners (New York, NY), a private equity firm investing in middle market business-to-business industrial manufacturing and business services companies, has announced that its portfolio company, Tooling Technology Holdings, LLC (Fort Loramie, OH) has completed the acquisition of G.H. Tool & Mold, Inc. (Washington, MO) a company that specializes in the design and manufacturing of high-quality tooling for die casters in the automotive, outdoor products and aerospace industries.
Tooling Tech, which was acquired by GenNx360 in July 2014, is a leading supplier of high-quality tooling for a variety of material forming processes, including 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 GH Tool transaction represents the second add-on acquisition Tooling Tech has completed under GenNx360 ownership this year. Tooling Tech acquired Majestic Industries, Inc. (Macomb, MI), one of the few progressive die makers in the U.S., in May of this year. The three tooling companies form the GenNx360 Tooling platform and are a one-stop shop for compression molding, progressive dies, transfer dies, thermoforming, blow molding, rotational molding, low to medium parts production, die cast tooling and precision machining services that serve a diverse set of end markets, including automotive, industrial, aerospace, outdoor products, automation and quick-change products.
“GH Tool is another strategic acquisition that provides us with increased visibility to the automotive programs, enhancing our tooling capabilities to serve different end markets, and widening our geographical reach in the southern United States and Mexico,” said Tony Seger, the chief executive officer of Tooling Tech.
“We are delighted to partner with GenNx360 and Tooling Tech at this stage of our evolution. The rich operational expertise and industry relationships that GenNx360 and Tooling Tech bring to our business will help us grow at a much faster pace,” said Gerry Hellebusch, the founder of GH Tool.
“We are excited about the addition of GH Tool to our Tooling platform. We believe there is enormous potential for revenue synergies from combining these businesses,” said Matthew Guenther, the GenNx360 partner who led the transaction.
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