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Topics Mergers & Acquisitions
Molders Supply Corp., a mainstay in Leominster, Mass., for selling supplies to plastics processors, has a new owner, as Tim Swart bought the business July 1.
Swart said he bought Molders Supply from John White, who founded the company 45 years ago. He is looking to hire one or two people to help run the store, which gets a lot of walk-up business.
Molders Supply sells products like heater bands, nozzle bands, immersion heaters, thermocouples, hot runners and discrete controllers, for injection molding and the wire and cable sectors.
Swart, who is a former production manager at NEC Technologies Inc. in Boxborough, Mass., most recently sold similar products to molders, working out of his house. He said buying Molders Supply will allow him to ship more quickly, from parts in stock.
Swart said word had spread that Molders Supply was closing, prompting him to buy the business. "It was never closed down," he said. Now he wants to rebuild the operation.