Eindhoven, Netherlands-based mold maker IGS GeboJagema has acquired U.S.-based TerBeek Machine & Tool, creating IGS USA to serve its North American customers.
IGS opened a sales office in the U.S. in 2022 as part of its plan to expand to North America after investment firm Smile Invest purchased it in 2021.
The deal includes all of injection mold maker TerBeek's equipment, Ron Cisliek, U.S. director of business development for IGS GeboJagema, told Plastics News in an email.
Six of TerBeek's employees will remain at the Peachtree City, Ga., facility, which is leased, Cisliek said.
IGS expects to hire "at least 10 local professionals … to establish an initial team of 20 members in the U.S. within its first year," it said. Three employees from IGS Netherlands will also relocate to the U.S. to work at the facility.
The acquisition is "a significant part of IGS GeboJagema's expansion plan to enhance the company's service offerings in the North American market and underscores its commitment to be closer to its customers," a news release said.
TerBeek's tool shop "requires minimal investments and is ready to commence operations immediately," the release said. "Its location near the Atlanta airport makes it easily accessible from anywhere in North America."
The company's U.S. branch is expected to be fully operational by the fourth quarter of 2023.
IGS GeboJagema declined to comment on the terms of the deal.
"This acquisition will enable us to better meet the needs of our clients in North America," IGS GeboJagema CEO Herman Rusch said in the release. "TerBeek Machine & Tool's focus on service, coupled with their unique American entrepreneurial spirit, complement our Industry 4.0 approach perfectly. We believe we can learn a lot from each other."
"The acquisition will allow the mold maker to better serve its clients with service, maintenance, refurbishments, new projects, training, on-site inspections and advice … the new branch will develop mold designs and perform mold validations," the release said.
The acquisition "also supports sustainability efforts, as it eliminates the need to ship molds across the Atlantic," it added. "It reduces travel time and costs, which will lead to a lower total cost of ownership for IGS GeboJagema clients."
IGS GeboJagema, which specializes in medical applications and ophthalmic products, posted sales of more than $42.9 million (€40 million) in 2022 and expects to approach $64.4 million (€60 million) in 2023.