Grand Traverse Plastics Corp., an injection molder and Tier 1 supplier of plastic parts for the automotive, material handling, commercial vehicle and industrial industries in Williamsburg, Mich., has been sold to Southfield, Mich.-based private equity firm Covington Partners LLC.
Terms of the deal were not disclosed. Messages seeking further details and comment were left for both companies and not immediately returned.
The acquisition was announced Dec. 19 by Angle Advisors LLC, a Birmingham, Mich.-based investment bank that advised Grand Traverse Plastics on the deal.
Grand Traverse Plastics, founded in 1981, operates three manufacturing facilities at its Williamsburg campus, east of Traverse City, Mich. The company also has a sales office in the Detroit suburb of Sterling Heights, Mich.
The three manufacturing facilities house operations for small-tonnage injection molding machines equipped with automated assembly equipment, large-tonnage presses with additional robotics and automation along with a research and development and tooling group. Clamping forces on the presses range from 230-1,100 tons.
Grand Traverse Plastics molds a variety of under-the-hood automotive components, including engine and rocker covers, internal engine parts and oil filler tube caps. Additional services include mold making and design, rapid prototyping with additive manufacturing as well as process technologies such as molded-in-color, molded-in-fasteners and insert molding.
