MGS Manufacturing Group Inc. will build a 118,000-square-foot innovation center at its corporate campus in Germantown, Wis., with its new landlord serving as the developer.
Borgman Capital purchased the buildings that make up MGS's headquarters from MGS founder Mark Sellers and is building up the manufacturing site for its real estate portfolio.
MGS, owned by private equity firm Mason Wells Inc. of Milwaukee since 2016, has always leased those facilities, according to Shawn Krenke, MGS chief technology officer and senior vice president of automation.
"The company looks forward to its new relationship with Borgman Capital as the property owner," Krenke said in an email about the addition of an innovation center.
"This advanced manufacturing facility will bring its design, tooling, automation, mold sampling, and production development capabilities together in one location. The new facility will connect all its existing local facilities into one continuous campus, enabling an exceptional customer experience and collaboration across all functional areas of the company," he said.
The new innovation center will complete the company's plan to create a global health care manufacturing center of excellence, Krenke added.
MGS sits on a 24-acre campus that also is home to its North American tooling technology center and global automation center in addition to the health care center.
Founded in 1982 as Moldmakers Inc. by Mark G. Sellers, MGS also has sites in Mexico and Europe.
When Sellers sold the company in 2016 to Mason Wells, he retained ownership of the real estate, which was recently sold to Borgman for $32.7 million.
Sellers was the CEO from 1982 until 2016. MGS's annual sales were more than $200 million when he sold it and had facilities in Wisconsin, Illinois, Mexico and Ireland, according to the website for Seller's new business, Alligator Holdings LLC.
In 2021, MGS acquired Formteknik, which operates in Denmark, Sweden and Germany.
The acquisition brought the MGS team to 1,500 employees and 11 global facilities, building on a European presence that had been limited to a facility in Ireland, company officials said at the time.