Gund Co., a fabricator and manufacturer of engineered materials, has acquired Vanderveer Industrial Plastics LLC (VIP).
VIP will continue to operate its 29,000-square-foot plant in Placentia, Calif. The facility is equipped with state-of-the-art computer numerically controlled fabrication and inspection technology and equipment, Gund said in a May 5 news release.
Some of VIP's main markets include renewable energy, semiconductors and aerospace. It stocks rods, sheets, tubes and industrial laminates.
Gund said the purchase will significantly expand its capabilities though VIP's experience in composites and engineered thermoplastic fabrication. It also said VIP's access to highly engineered thermoplastics will add to Gund's product offerings.
Mike Moran, who was vice president of business development at VIP, now holds the same position at Gund.
Financial details of the acquisition were not disclosed.
Founded in 1951, Gund employs more than 700 worldwide. Based in St. Louis, Gund is a third-generation family-owned business, with 30 percent owned by employees.