NEW YORK, May 27, 2015 /PRNewswire/ -- Tooling Technology Holdings, LLC ("Tooling Tech"), a portfolio company of GenNx360 Capital Partners ("GenNx360"), acquired Majestic Industries Inc. ("Majestic"), a Macomb, Michigan, based manufacturer of progressive and transfer dies, on May 22, 2015.
The Majestic acquisition adds significant benefits and expertise to Tooling Tech, expanding tooling capabilities that now include: compression molding, progressive dies, transfer dies, thermoforming, blow molding and rotational molding. This broad range of capabilities allows the group to continue expanding into a number of different industries ranging from automotive to industrial and positions the Company to offer numerous solutions to service the needs of its customers as a one-stop tooling shop.
"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. "This merger enhances our offerings through the addition of design capabilities, low volume production, and repair services," he added.
"After more than 45 years of ownership and pursuant to our strategy to identify a new owner, we are delighted that Tooling Tech, together with GenNx360, is acquiring Majestic. Tooling Tech has the capital and management expertise to take Majestic to the next level," said Al Janiszewski, Majestic's founder.
"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.
ABOUT GENNX360 CAPITAL PARTNERS
GenNx360 Capital Partners is a private equity firm who applies years of operational and leadership experience to investments in middle market industrial manufacturing and business services companies. The Fund's differentiation is derived through an operationally-based culture where it brings Fortune 50 operating tools and experience to middle market companies. The Fund will employ a hands-on and value-build approach to invest in companies within the following industries: 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 City.
For more information about GenNx360, please visit: www.gennx360.com
Majestic (www.majesticind.net), founded in 1980, and based in Macomb Township, Michigan, a suburb of Detroit, is a leading manufacturer of progressive and transfer dies for the automotive industry. The Company designs, engineers, builds, and tests progressive dies for automotive original equipment manufacturers ("OEMs") and their Tier 1 suppliers in North America. It specializes in the production of large, high-speed progressive dies for stamping automotive parts used throughout a vehicle.
ABOUT TOOLING TECHNOLOGY
Tooling Technology Holdings, LLC, (www.toolingtechonline.com) 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 media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Investor Relations Manager
Tel: +1 212.257.6772
SOURCE GenNx360 Capital Partners