Mack Molding buys product development firm

By Gayle S. Putrich
Staff Reporter

Published: July 23, 2013 12:39 pm ET
Updated: July 23, 2013 1:57 pm ET

Image By: Mack Molding

Related to this story

Topics Medical, Mergers & Acquisitions, Injection Molding, Design

Custom injection molder Mack Molding Co. is expanding its product development services with the July 22 acquisition of Milford, Conn.-based Synectic Engineering, Inc.

Financial details of the deal between the two privately held companies were not disclosed. All 18 of Synectic's employees will remain with the company and the now-wholly owned subsidiary will retain its name, Mack officials said.

Adam Lehman will be elevated from Synectic's vice president and COO to president, reporting directly to Jeff Somple, president of Mack Molding's Northern Operations.

Somple said the acquisition will help close the ever-present gap between product development and full production for both companies.

"It really fits into the front end of our value chain. What they're good at is the up front product development and realization process," Somple said.

"A gap exists today between the beginning of a product and getting it out the door in volume… while another company works to make a product work, the manufacturer ends up trying to work out production for it on the fly, with concurrent engineering. And it works out but you might end up with a high reject rate, long cycle time, things you have to live with all because you didn't really develop it on the front end. With this acquisition, we'll be doing it all from the same company."

Founded in 1981 by Jess Stein and Pam Zeller, the previous owners who are retiring, Synectic operates on a five-phase, fixed-price development model, rather than taking the more conventional time and materials approach. So a client knows exactly how much they will pay for definition, concept development, engineering development, design for manufacturability, and pilot manufacturing.

Mack will also have access to Syentic's brain power as well as its 3D CAD platforms, a model shop, an in-vitro tissue lab, and an on-site Class 10,000 clean room for pilot manufacturing — for which Somple and his team already have big plans.

"I've already warned them that my engineers and sales people are going to bombard them with all the little problems on products that maybe we've been limping along with because we didn't have ready access to this kind of development team or facility," Somple said. "Sometimes, in acquisitions, a company is just buying sales but with this, we're really expanding our true capabilities."

"We are all very excited about joining Mack, which will allow us to keep programs under one roof," Lehman said in a news release. "We'll now be able to provide uninterrupted oversight and support for the full life of a program, rather than handing off to a manufacturing partner. The whole process will now be seamless, because Mack will be involved from the start."


Comments

Mack Molding buys product development firm

By Gayle S. Putrich
Staff Reporter

Published: July 23, 2013 12:39 pm ET
Updated: July 23, 2013 1:57 pm ET

Post Your Comments


Back to story


More stories

Image

Lund adds to aftermarket auto products portfolio with buy of Bushwacker

January 29, 2015 2:49 pm ET

Lund International Inc. has expanded its portfolio of plastic aftermarket vehicle accessories by acquiring Bushwacker Inc.    More

Image

Chemtrusion, Mytex Indiana compounding plant set for expansion

January 29, 2015 1:35 pm ET

Japanese and American partners in a compounding plant in Indiana plan to expand the facility.    More

Image

Falcon Plastics expands in South Dakota

January 29, 2015 11:45 am ET

Falcon Plastics Inc. is putting the final touches on a 60,000 square foot addition that will nearly double the size of its Brookings, S.D.,...    More

Image

African equity fund invests in Kenya's General Plastics

January 28, 2015 4:24 pm ET

An African investment fund specializing in agriculture has invested in Kenyan packaging firm General Plastics Ltd. to provide funds to expand in the...    More

M&A deals in packaging hit record

January 28, 2015 1:49 pm ET

It's good to be in packaging these days. More precisely, it's good to be in packaging and decide to sell or merge.    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events