Blackford Capital Invests in Houston-based Texas Injection Molding
GRAND RAPIDS, Mich. and HOUSTON, Nov. 14, 2025 /PRNewswire/ -- Blackford Capital ("Blackford"), a leading lower middle market private equity firm, announced today that it has invested in Texas Injection Molding ("the Company"), a leading manufacturer of precision-engineered injection molded industrial components headquartered in Houston. The investment will provide capital for the continued expansion of the Company, as well as access to Blackford's experience in identifying and integrating acquisitions. Terms of the transaction were not disclosed.
"We have been impressed with Texas Injection Molding's engineering capabilities, tooling and resources and are excited to partner with the team as they take advantage of the many opportunities available in Texas today," said Blackford CEO Martin Stein. "We will look to support the business' growth across Texas and in other high-growth regions across the country by leveraging our industry and regional experience with Lubbock, Texas-based Industrial Molding Corporation. We're thrilled to have another investment in Texas, and we're excited to grow this fantastic business and team."
Texas Injection Molding Founder and CEO Jeff Applegate said, "Our vision over the last 12 years has been to be the best supplier to our customers, best employer to our team, best customer to our vendors, and to give thanks to the Lord for His provision. We've been fortunate to find a partner in Blackford Capital that shares our vision, and will help us continue to build a lasting, great company that allows our employees, customers, and shareholders to prosper."
Mr. Applegate will retain a substantial equity stake and focus primarily on supporting the team with strategy and growth of the Company. Scott Kelley will remain as President, and Texas Injection Molding's existing management team will continue in their current roles.
Augmenting the team is Scott Osterling, who joins the Company as CEO. With more than 20 years of leadership experience, Mr. Osterling has a track record of driving strategic initiatives across portfolio companies, improving EBITDA and building high-performance teams. He most recently supported portfolio operations for Platinum Equity, and previously held senior leadership roles at Cameron and Schlumberger. Mr. Osterling is a U.S. Army veteran who achieved the rank of Major and served as a Special Forces Detachment Commander. He earned his bachelor's degree from the United States Military Academy and an MBA from Harvard University.
"We believe the injection molding sector remains very attractive, helped by the tailwinds of customers reshoring manufacturing to the United States, and I'm excited to build upon the strong brand and positive culture Jeff has established," said Mr. Osterling. "I look forward to working with him and the entire Texas Injection Molding team as we look for innovative ways to better serve our customers and continue to grow the business."
Blackford Capital's previous experience in the plastics industry includes its strategic transformation of Custom Profile, a plastic extruder, which led to a successful 2019 exit. During its investment period, Blackford led revenue growth at Custom Profile by more than 124% with an 8.6% revenue CAGR.
PMCF Investment Banking, led by John Hart, served as financial advisor to Texas Injection Molding in the transaction.
About Texas Injection Molding
Founded in 2013, Texas Injection Molding has rapidly grown to be one of the largest custom injection molding manufacturers in Texas. With 200 employees, the Company operates 35 injection molding machines with a facility of approximately 90,000 square feet. Texas Injection Molding was recognized as a 2024 Plastics News Best Places to Work, received the Manufacturers Association of Plastics Professionals 2024 Innovation Award, and was named to the Houston Business Journal's Houston's Fast 50 list in 2023. More information can be found at www.texasinjectionmolding.com.
About Blackford Capital
Founded in 2010, Blackford Capital is a private equity investment firm headquartered in Grand Rapids, Michigan. Blackford acquires, manages, and builds founder and family-owned, lower middle-market companies in manufacturing, distribution, and services. The firm has a track record of exceptional returns, a disciplined and relentless approach to value creation, a focus on operational excellence, and a compelling culture. The investment into Texas Injection Molding is Blackford's third platform investment in the plastics space, 19th platform investment, and 51st acquisition since its founding in 2010. Blackford's honors include being named to the Inc. Founder-Friendly Investors and Inc. 5000 lists in 2024, as well as securing the 2024 USA Deal of the Year at the Americas M&A Atlas Awards and the 2024 Deal of the Year at M&A Advisor's International M&A Awards. The firm's professionals have been named to Crain's Detroit Notable Dealmakers, Crain's Detroit Notable Leaders in Finance, Crain's Grand Rapids Business Dealmaker of the Year, and the Grand Rapids 200 lists over the last year. For more information, visit www.blackfordcapital.com.
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SOURCE Blackford Capital
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