Haartz Family Holdings LLC has acquired injection molder Total Molding Services Inc. and rebranded the business as Moldgenix.
No purchase price was included in an April 8 news release announcing the deal. Acton, Mass.-based Haartz is acquiring Moldgenix of Quakertown, Pa., from Thomas McNutt, who founded the firm in 1987.
In a video interview, Moldgenix President Thomas Houdeshell said that the deal allows Haartz to enter the medical molding market.
"This business aligns to [Haartz's] future thinking," he added.
Moldgenix makes a variety of medical devices and components and also offers tooling and assembly services. Officials said the new name "implies the creation of molded products and is designed to better reflect the company's innovative spirit and future-forward vision."
Haartz now plans to invest in processes, talent and technology at Moldgenix, although Houdeshell said details aren't yet available. The firm currently operates 28 injection molding machines at a 50,000-square-foot site where it employs 35.
"We look forward to watching them prosper and thrive in the coming years," Haartz Principal Eric Haartz said in the release. In addition to medical, Moldgenix makes parts for the dental, industrial, electronics and customer goods industries. Haartz was founded in 1907 and provides materials used in automotive fabric and interior trim, including moldable skins and artificial leather. The firm employs more than 400 worldwide in the U.S., Germany, China and India.
The medical market "is hard to get into, but once you're in, it's a good business," said Houdeshell, an industry veteran who joined Moldgenix in 2022. "It's got steady growth."
He added that Moldgenix will benefit from Haartz's connection with Peak Performance Compounding LLC. Haartz acquired a minority stake in Leominster, Mass.-based Peak in 2021. Peak makes compounds for several markets, including medical and industrial.
Overall, the acquisition will be beneficial to Moldegenix and its employees and customers, Houdeshell said. "From a vision standpoint, we want to prioritize people and create an enduring and nurturing culture."