Westfall Technik Inc., the global holding company on an acquisition spree, is building a micromolding group to serve the medical market. The latest addition: Tempe, Ariz.-based Micro Tech Southwest Inc., where Westfall plans to invest in an ISO 8 clean room.
Westfall announced it bought Micro Tech Southwest on March 20. Terms were not disclosed.
Micro Tech focuses on medical and consumer products. CEO Steve Kraxberger, who founded the micromolder, will retire after a transition period. The Micro Tech management team will remain with the company, according to a news release from Las Vegas-based Westfall Technik.
"When the time came to sell, I wanted to find a buyer who could continue MTSW's strong tradition of customer service," Kraxberger said. "I am sure that Westfall Technik is the right group to do this."
Micro Tech employs about 80 and runs 24 injection molding machines in clamping forces ranging from 28-350 tons, housed in a 58,000-square-foot plant. The company is certified for ISO 9001 and 13485 but currently does not have clean room production.
"That is going to change quickly," said Rick Shaffer, Westfall's managing director.
In addition to a clean room, the new owner plans to add material handling equipment, modernize the building's infrastructure and make productivity improvements.
Westfall Technik has made two other micromolding deals in the last few months. In December, Westfall bought Mold Hotrunner Solutions Inc., a company in Georgetown, Ontario, specializing in hot runners and injection presses for micromolding. Then, in mid-January, Westfall purchased Mold Craft Inc., a Willernie, Minn.-based maker of injection molds for micromolding and high-cavitation applications.
Micromolding is a key part of Westfall's strategy, which includes buying medical plastics firms, Shaffer said.
"That is one piece, especially to serve the medical industry, which is using micromolding more and more," he said. "It is one of the fastest-growing segments of plastics, especially medical," he said.
Shaffer said not many plastic processors know much about true micromolding, which produces tiny parts that require a microscope to see the detail.
Micro Tech Southwest grew dramatically after industry veteran Brett Black joined the company in 2014, according to the news release.
"We found new ways to increase output and ensure quality at a fair price, which allowed us to become a leader in high-tech parts," Black said.