Private equity firm TVV Capital of Nashville has acquired injection molder Design Molded Plastics Inc. for an undisclosed price.
Macedonia, Ohio-based DMP serves numerous markets, including home appliances, sporting goods, automotive and consumer goods. TVV Capital President Andrew Byrd said in an Aug. 19 news release that DMP’s “highly diversified customer base, as well as its ability to provide full-service engineering, tooling and manufacturing services translates into a high-growth business with the potential for continued rapid expansion.”
DMP had a big expansion phase in 2012 and 2013 at its manufacturing site in Macedonia. The firm added 20,000 square feet in 2013 to the 110,000 square feet it occupied over two buildings. In 2012, DMP added six new injection molding machines, ranging from 88-950 tons of clamping force.
According to the company’s website, DMP now has 120-plus employees and 35 injection presses. DMP posted sales of $23 million in 2012. The 29-year-old firm is one of only a few U.S. manufacturers that still produce parts for vacuum cleaners.