Irrigation components specialist K-Rain Manufacturing Corp. has bolstered its in-house injection molding capability dramatically by acquiring Palm Beach Precision Molding Co.
Palm Beach Precision, renamed K-Industries, will dedicate most of its capacity to making K-Rain's range of rotors, sprinklers, sprays, valves and other irrigation products. Both K-Rain and K-Industries are based in Riviera Beach, Fla. Other markets served by the former Palm Beach Precision plant were medical, telecommunication, filtration, hardware and electronics.
Terms of the deal were not disclosed.
K-Rain President Chip Kah said his firm exited captive molding about 15 years ago but had resumed it to a modest degree with four injection presses in a Dominican Republic facility.
In a telephone interview, Kah said the purchase of Palm Beach Precision, with its 20 presses, gives K-Rain significant captive molding capacity to meet its own needs.
K-Industries will contribute about 400,000 parts per day and outside molders will make more than 1.1 million parts per day.
Palm Beach Precision, founded in 1995, was owned by Warren Avis, who will exit the firm's business, according to Kah.
Palm Beach Precision General Manager Erica Bauman will continue his position under the new ownership.
In the next few years, Kah expects to consolidate K-Rain's headquarters plant and K-Industries into a single operation in the Palm Beach area.
K-Rain's products are used in commercial and residential irrigation worldwide. The company was founded by Kah's father, Carl, in 1974 and since has garnered more than 50 patents. Not including its recent acquisition, K-Rain employs more than 300 in design, manufacturing, sales and distribution.