MGS Mfg. Group Inc. is growing in Mexico with its purchase of a 125,000-square-foot injection molding operation in Juárez and a pledge to the seller, Jabil Inc., to keep on the 500 employees.
Terms of the deal, announced Sept. 5, were not disclosed.
MGS, based in Germantown, Wis., is a mold maker and contract manufacturer for high-precision plastics products. The company already has a 125,000-square-foot manufacturing facility in the city of Chihuahua, Mexico. The Juárez acquisition, which includes 65 injection molding machines, aligns with a plan for continued growth in the state of Chihuahua.
"We are pleased to welcome the Juárez employees to the MGS team. MGS has experienced significant growth in the Mexican market, and the Juárez facility is a great fit for our continued expansion," MGS President Paul Manley said in a statement about the transaction.
MGS is owned by the Milwaukee-based private equity firm Mason Wells.
Based in St. Petersburgh, Fla., Jabil is a publicly traded company that reported net income in June of $4.5 billion for the third quarter of its fiscal 2017 year. Jabil offers engineering, manufacturing and supply chain services at 28 facilities worldwide for the appliances, automotive, medical devices and other markets.
Jabil was advised by Stout Risius Ross, which is based in Chicago.