Campbell, Calif.-based Global Supply LLC acquired the business assets of Innovative Plastics, which was in Murrieta, Calif., to offer injection molding capabilities for the first time and support the development of new and existing products.
Founded in 1987, Global Supply manufactures and distributes electronic fasteners, interconnects, hardware, thermally conductive materials, test and measurement equipment for customers that include original equipment manufacturers and contract manufacturers.
The Innovative Plastics acquisition is part of a strategic plan to add new brands and manufacturing capability for electronic fasteners and interconnects, according to Global Supply President Lance Archer.
Through the purchase, Global Supply acquired multiple injection molding machines with clamping forces up to 90 tons; hundreds of propriety injection molds for electronic, electrical, aerospace and utility products; and intellectual property for specialty over-molding in the automotive and utility industries, Archer said in an email.
No terms were disclosed.
Innovative Plastics was a small manufacturer with distribution through companies such as Bossard and Bisco Industries. The owner and founder will continue as an adviser for operational and technological requirements, Archer said.
Global Supply will use it new injection molding capabilities to add products to its TekNational brand of products, Archer said.
Global Supply's website shows products divided into two categories: one for thermal materials and die cutting — think thermally conductive gap pads and silicone tubes — and the other for printed circuit board (PCB) hardware, such as card guides, card ejectors and threaded nylon components.
The Innovative Plastics brand includes PCB hardware products.
"The product lines acquired are complementary to our TekNational business, which has been at the forefront of the electronic hardware component and thermal insulation field for over 41 years," Archer said.
Global Supply officials are looking to buy other companies that produce electronic hardware components and fasteners with a focus on aerospace, defense, advanced electronics and other markets, Archer added.
For the Innovative Plastics acquisition, Global Supply was represented by Calabasas Capital, a Calabasas, Calif.-based investment banking firm that does business as Fallbrook Capital.