Newly formed holding firm Westfall Technik Inc. of Las Vegas acquired Fairway Injection Molds Inc. and Integrity Mold Inc. in separate Oct. 18 transactions. Terms were not disclosed.
Together, Fairway in Walnut, Calif., and Integrity in Tempe, Ariz., employ about 130 and have annual sales of about $30 million.
Veteran plastics industry executive Brian Jones founded and is managing director of Westfall Technik.
"The new company, Westfall, is the result of several years of planning and design with a purpose of creating a world-class company to serve market leaders at a significantly higher quality and productivity level,” Jones said. “We are excited with our launch of Westfall.”
In a statement, Jones added, "We have a no-bureaucracy culture to optimize our customer response time, ensure efficient service, and provide excellent customer satisfaction."
Westfall Technik is in active acquisition discussions with other tool makers and injection molders. Targets include suppliers to the medical, packaging and consumer goods markets.
Currently, Westfall Technik employs three. In addition to Jones, Perry Morgan is chief financial officer, and Rick Shaffer, another managing director, focuses on opportunities in the Southwest U.S. and Europe.
Fairway was founded in 1977 and produces multi-cavity injection molds including single face, stack, high-speed unscrewing and multi-shot molds.
Westfall Technik acquired the Fairfield Injection Mold assets from the Henn brothers-owned Fairway Injection Molding Systems Inc., also in Walnut.
The Integrity business was acquired from Montage Partners Inc. of Scottsdale, Ariz. Montage invested in Integrity in December 2015 in a recapitalization in partnership with the company's founders and management.