Westfall Technik Inc. acquired Precision Injection Molding Co. (Pimco) of Corona, Calif., on Feb. 22, marking Westfall Technik's12th acquisition of an injection molding or mold making business in the past 16 months.
Terms of the new deal were not disclosed.
Westfall Technik said it is welcoming two of Pimco's leaders, Steve Crawford and Scott Rose, to the Westfall team. The acquisition announcement did not mention Pimco President Mike Murphy.
Pimco and Westfall Technik began discussions in November.
"This transaction will allow us to provide additional technologies and capabilities and increase the speed-to-market for our customers and their products," Crawford, Pimco vice president and an owner, said in a statement.
Pimco is located on a 0.23-acre site and makes plastic parts primarily for use in the medical, telecommunication, consumer durable and light industrial markets.
The processor operates 27 injection molding presses with a clamping force range of 25-275 tons. Toshiba, Fortune, Arburg and Toyo are among the machine brands.
Pimco can provide secondary and sub-assembly operations, overmolding, hot stamping, sonic welding and in-house quality control.
Pimco says its team has 50 years combined experience in the injection molding industry, specializes in difficult-to-mold parts and handles both short- and long-term production demands.
Pimco was involved in early production of Solar Shield-brand sunglasses for Dioptics Medical Products Inc. of San Luis Obispo, Calif.
Pimco has an ongoing relationship with SR Machining Inc. and its precision injection molding affiliate, SR Plastics, both of Norco, Calif.
MBS Advisors of Florence, Mass., provided exclusive advisory services to Pimco in connection with the transaction.
Brian Jones, a former Nypro Inc. CEO, founded the Westfall Technik holding company with funding from New York-based middle-market private equity firms Lee Equity Partners LLC and BlackBern Partners LLC.
Its acquisition of plastics firms with tooling, medical, packaging and consumer product capabilities began in October 2017. Las Vegas-based Westfall Technik's aggressive growth strategy is aimed at building a comprehensive and vertically integrated solution provider.
Prior to the Pimco deal, Westfall Technik operations employed more than 1,300 people. Now, its businesses occupy more than 850,000 square feet of manufacturing space and had locations on 16 sites in North America.
