Design Molded Plastics Inc. (DMP) was weeks away from closing its doors in Macedonia, Ohio, when the assets were purchased through a public sale by Big Shoulders Capital in May 2023.
Now the injection molding company is doing the acquiring.
In the last four months, DMP bought the majority of assets owned by two other Ohio-based injection molders, which will close at the end of the year.
Company officials aren't sharing many details yet — not even the names of the two businesses — let alone details of the financial terms.
However, DMP President Brian Schroeder did say in an email that the acquired assets include machinery and equipment, accounts receivable, inventory and proprietary molds.
A majority of employees were offered jobs with DMP, Schroeder added, noting "a number of" the management, technical staff and other employees are making the move.
All customers of the acquired companies are being integrated into the Macedonia facility, Schroeder also said.
"DMP has been both financially and operationally restructured, added strong technical and business development resources and re-established relationships and trust with its vendor base to serve as a stable source of supply and value-add resource to its customers," he said.
DMP currently has 31 presses in Macedonia ranging from 88-950 tons. The acquisitions also are bringing additional robotics capabilities, CNC machines and robust secondary operations in silk screening, pad printing and hot stamping, Schroeder said.
The DMP president, who also heads up the acquisition strategy at Big Shoulders Capital, said he will release more details about the two deals early in 2025 and will discuss other transactions the company hopes to make.