CHF Capital Partners has acquired injection molder MOS Plastics Inc. of San Jose, Calif.
The partnership plans to boost its MOS investment ``through a combination of internal growth and acquisitions,'' said Tim Howard, a general partner in CHF. CHF is based in Palo Alto, Calif.
CHF bought MOS on May 7 from Compass Plastics & Technologies Inc., which was forced to sell the unit to repay commercial loans. CPTI said it sold MOS for $8.25 million; that figure includes about $1.53 million in assumed liabilities.
MOS runs 38 injection presses with clamping forces of 28-550 tons. All presses have TG Brand's Shotscope software, and MOS recently added a video measuring system for its quality laboratory, said Paul Hoefler, MOS general manager. MOS has 131 employees and 54 temporary workers.
Howard and fellow general partner Dan Flamen left venture capital positions to form their own business in 1986 with funding from institutional investors. They bought out their limited partners in 1994 and operate now with the partnership's own capital.
CHF acquired thin-film converter 20th Century Plastics Inc. from Avery Corp. in 1988, made four add-on acquisitions and sold the package to a Boston investor group in 1997.
CHF purchased rubber processor Burke Industries Inc. in 1988, made three add-on acquisitions including silicone capability and sold those operations to a New York investor group in 1997.