Dynaplas Ltd. has bolstered its toolmaking capabilities by acquiring a small mold shop in Peterborough, Ontario.
Dynaplas, a custom molder and mold maker in Toronto, announced the acquisition of Chilton Precision Inc. on Dec. 6. It did not disclose terms of the deal.
Chilton Precision, a specialist in mold bases, “complements our in-house mold making,” said Dynaplas director of sales Sean Dent, in a phone interview. “They're very good at what they do.”
Dynaplas has relied heavily on Chilton Precision for mold bases and when the owners decided to focus on the operational side of the Chilton operation, Dynaplas saw an opportunity to integrate Chilton Precision's administrative functions into its own, Dent explained. Dynaplas' size also helps ensure financial stability.
Dynaplas has 175 employees and annual sales of about C$32 million (US$33.9 million). Chilton employs six.
Chilton's former owners, Steve and Mike Chilton, will continue with the Peterborough business as vice president and president, respectively. The operation will continue to run as a separate entity in Peterborough to encourage key employees to stay with Chilton Precision.
The vast majority of Dynaplas' sales are in automotive, with a significant portion of that in exports to low-cost regions offshore. Other markets are commercial and industrial, plumbing, electronics and cosmetics. A relatively new but growing business is its foray into paddles for white water and touring boats, kayaks and canoes. That subsidiary, housed in its Toronto plant, is called H2O Performance Paddles.
Dynaplas uses engineering and high-heat resins for high precision, tight tolerance parts. Its technology for stiff, lightweight paddles molded from glass and carbon reinforcements can transfer over into its other molding markets. It runs 55 presses with clamps from 12 to 500 tons.
“Adding Steve and Mike Chilton's expertise in precision machining deepens our company's talent level in mold making and will make us more efficient in supplying the highest quality products to our customers,” noted Dynaplas President, CEO and owner, Greg Walton, in a news release.