NEW YORK, April 18, 2018 /PRNewswire/ -- GenNx360 Capital Partners ("GenNx360"), a New York-based private equity firm which invests in middle market business services and industrial companies announced two new add-on acquisitions for its portfolio company Tooling Technology Group ("TTG"). TTG, one of the largest manufacturer of tooling solutions serving the automotive and industrial end markets in North America, acquired CTG Holdings ("CTG") which operates Century Tool & Die ("Century") and Bel-Kur ("Bel-Kur") on March 29, 1918. Century provides medium and large compression molds for automotive, heavy truck and industrial applications. Bel-Kur provides secondary tooling, fixtures and automation equipment for a wide range of operations.
"TTG continues to demonstrate strong growth since our acquisition in 2014," said Matt Guenther, the GenNx360 Managing Partner who led the transaction. "Following the acquisition of Majestic Industries and G.H. Tool in 2015, the addition of Century and Bel-Kur represents another successful step in executing TTG's strategy to expand its market reach and overall growth potential and further position it as one of the largest privately-held fully integrated tooling solutions provider in the United States."
"Both Century and Bel-Kur are highly strategic add-on acquisitions that will add Class A exterior tooling capabilities, address secondary tooling and automation growth opportunities, expand machining capabilities and capacity, broaden our customer base, and introduce new selling opportunities," said Tony Seger, Chief Executive Officer of TTG.
"The CTG businesses are highly complementary to TTG's existing operations, and we are very happy to join the TTG team," said Robert Rich, President of CTG.
CTG was majority owned by First Capital Partners, a private investment firm based in Omaha, Nebraska. Financial terms of the transaction were not disclosed.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business services and industrial companies. We invest in companies with proven and sustainable business models in expanding industries with the objective of implementing the required operating changes to deliver cost efficiencies, accelerate growth, and generate strong financial returns. Target industries include industrial machinery and components, logistics and supply chain solutions, industrial and environmental services, food and agricultural products and services, infrastructure equipment and services, specialty chemicals, packaging, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360 Capital Partners, please visit http://www.gennx360.com.
About Tooling Technology Group
Tooling Technology Group, founded in 1982 and headquartered in Fort Loramie, Ohio 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 full range of in-house capabilities, including patterns, models, cast tooling, finishing, CNC machining as well as design and engineering, provides customers with a complete, one-stop solution for their tooling needs. For more information about Tooling Technology Group, please visit: http://www.toolingtechgroup.com
For media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Investor Relations Manager
Email: [email protected]
Tel: +1 212.257.6772
SOURCE GenNx360 Capital Partners