Three investors acquired GB Mold LLC of Riverside, Calif., and chart an aggressive expansion targeting work with higher cavitation and mold interchangeability.
Recently, the firm has invested $200,000 for equipment including a Charmilles sinker machine and a Mitsubishi wire electrical discharge machine. Both are computer numerically controlled.
``We are in 3,000 square feet and actively looking to upgrade to more than 10,000 square feet next year with the growth we have experienced so far this year,'' said Anthony de la Fuente, managing partner. ``We are up 50 percent year over year and looking to tap into some new areas such as pay-for-performance mold making and rapid prototype tooling.''
In March, company founder Robert Wright sold the business to de la Fuente; Larry Wein, principal of equipment financer LW Capital of Newport Beach, Calif.; and Gib Yancey, a Newport Beach-based distributor for Johnson & Johnson's joint-replacement DePuy Orthopaedics Inc. unit. Wright, a Great Britain native who continues as a consultant, founded GB Mold in 1982. Terms were not disclosed.
Len Graham joined the firm as general manager in December. Graham began providing consulting services to GB in September. De la Fuente began recruiting the industry veteran after hearing a Graham presentation at an April seminar about automating mold manufacturing.
``We are budgeted to add three more people in the first quarter of 2006,'' de la Fuente said, noting a recruiting challenge. ``Most people we are finding want to advance to a toolmaker role before they really understand the nuances.''
GB Mold employs seven, including three master mold makers and two people with skills in manual machining and grinding.
GB plans a presentation on ``Pay for Performance Mold Making'' during the 2006 MoldMaking Expo taking place April 25-26 in Novi, Mich.