Investment firm Watermill Group has bought Tenere Inc. of Dresser, Wis., which does injection molding, mold making, metal stamping and machining.
Terms were not disclosed. Watermill of Lexington bought the business from Columbus, Ohio-based private equity firm Stonehenge Partners Inc.
Tenere has 16 injection presses, with clamping forces of 20-1,000 tons, at its plant in Lakewood, Colo. It also does various secondary services, including decorating and welding.
In metal, Tenere does metal stamping, machining and die and mold making. Customers include OEMs in aerospace, agricultural, information, medical and industrial markets.
Watermill said Tenere is adding expanding production at its newest facility, in St. Croix Falls, Wis., and expects to hire as many as 100 employees within the next year.
“We're approaching a critical phase ... and Watermill is the right partner to help us expand and scale to the needs of our customers,” said Jon Fisk, Tenere's chief operations officer, in a Dec. 17 news release.