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

Medical manufacturer adds clean room, machinery

August 1, 2014 8:39 am ET

Medical component maker UFP Technologies Inc. expanded its Georgetown, Mass., operation with the addition of a clean room and high volume equipment.    More

Spain's ITC Packaging acquires Coveris rigids plant

July 31, 2014 9:59 am ET

International packaging group Coveris Holdings has sold its Spanish business Coveris Rigid Spain, including an injection molding plant, to the...    More

Private equity firm buys majority share of truck accessory maker

July 31, 2014 10:30 am ET

A majority share of Ann Arbor, Mich.-based truck accessory manufacturer Tectum Holdings Inc. has been acquired by Boston-based private equity firm TA ...    More

Image

Impact-resistant window maker buys competitor for $111 million

July 31, 2014 3:07 pm ET

PGT Inc. is acquiring CGI Windows & Doors Holdings Inc. for $111 million as part of a plan to grow strategically by buying businesses with...    More

Buyer plans to sell former Hoover molding, assembly plants

July 31, 2014 2:06 pm ET

A former Hoover manufacturing plant with 150 injection machines in El Paso, Texas, and a nearby maquiladora plant in Juarez, Mexico, changed owners an...    More

Market Reports

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

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

More Events