Injection molding company Le Sueur Inc. is acquiring prototype company Craft Pattern and Mold in an all-Minnesota deal.
Le Sueur, based in its namesake town, not only makes plastic injection molded products, but also aluminum castings and machine castings. Craft Pattern and Mold of Montrose, Minn., is described by Le Sueur owner Delos Capital as "a rapid prototyping and complex metal and plastics component manufacturer."
"The acquisition of Craft is highly complementary and will provide LSI with additional capabilities, enabling an end-to-end service offering for our customers," said Jordan Mondshine, principal at Delos Capital, in a statement.
Craft has been in business for more than 30 years.
"Craft Pattern is excited to partner with LSI and Delos Capital and the growth potential it will provide. We feel it is a recipe for continued success and can't wait to see how this collaboration takes Craft and LSI to the next level," said Tony Cremers, Craft's president and owner in a statement.
Silverfern, an investment management firm, provided an equity investment as part of the deal. Ironwood Capital and Genesis Park also provided debt and equity investments, Le Sueur said.