Alsco Industries Inc., an injection molder based in Sturbridge, Mass., is up for sale as owner and CEO Allan Rieser wants to replace suit coats and ties with golf tees and travel.
For more than 25 years, the company has offered various turnkey solutions, including part engineering, injection molding, tool making, overmolding and other processes for industries such as dental and medical, fiber optics, electronics, construction equipment and lawn and garden, among others.
"I saw that there was a strong market for acquisitions and that made it the right time to find new leadership for the company," Rieser said in a June 21 news release. "I'm 79 and want to pursue my love of travel and golf full time."
Rieser founded Alsco Industries in 1990 in Southbridge, Mass. He purchased the company's current facility in Sturbridge in 2003, expanding the building from 20,000 square feet to 65,000 square feet a year later.
The facility, which is ISO 9001-certified and FDA-registered for manufacturing Class 1 medical devices, sits on 9.6 acres of land and is located off Route 20 with access to major thoroughfares, including the Massachusetts Turnpike.
The sale of the company is being managed by the Branford Group, an industrial auction and valuation business based in Branford, Conn., in conjunction with the Absolute Group of Cos. — Absolute Machinery Corp., Absolute Haitian Corp. and Absolute Robot Inc. — in Worcester, Mass.
"It's a well-laid-out facility for a plastics manufacturer," James Gardner, partner at the Branford Group, said in a June 20 phone interview. "This provides a great opportunity in an excellent location to either continuing the operations there or expanding on their existing business."
Alsco Industries' equipment list includes 31 injection molding machines with clamping forces ranging from 44-787 U.S. tons, such as an all-electric 45-ton Zhafir press from 2015 and a 220-ton Haitian press from 2012.
Additional facility support and auxiliary equipment is also up for sale, including material handling systems, dryers, grinders and hot runner controls.
For plastics processors looking to expand capacity, Alsco Industries offers room to grow, according to President and Chief Operating Officer Steve Rieser, one of the owner's sons.
"Our team of 40 employees averages 15 years of experience," Steve Rieser said in a statement. "From toolmakers and setup technicians to machine operators, assemblers, [quality assurance] technicians and packaging/shipment team members, they share a dedication to getting the job done for our customers."
Allan Rieser Jr. is the company's molding manager. Both sons said they would assist during the transitional period as a result of a change in ownership, Gardner said.
"There are tons of companies out there looking to expand, and this building is a walk in. You don't need to do anything here, but come in," he said. "And if you have a product line where you need more machines and more capabilities, more production capabilities, this would be a natural fit given the age and condition of the equipment."
