Custom injection molder Empire Precision Plastics of Rochester, N.Y., was just acquired by private investment firm Kouza Capital of Troy, Mich.
Joseph Caradonna, chief investment officer of Kouza Capital, said by phone the deal closed March 16 for an undisclosed amount and includes all of Empire's equity securities.
"Empire's manufacturing capabilities and product mix mesh particularly well with the needs of our other portfolio companies and will help us achieve new supply chain efficiencies and enter new markets," Caradonna said in a news release.
Empire makes precision optics and parts for the firearms, medical, consumer electronics and industrial markets. It supplies other companies in Kouza's portfolio, including Eotech LLC, a Plymouth, Mich., manufacturer of scopes, sights and other equipment for firearms.
Another of Kouza's holdings is OptiFlow Inc., an Ann Arbor, Mich., machining firm and supplier of computer numerical control parts and components for sporting goods.
Empire, founded in 1992, employs 110 and operates a 70,000-square-foot plant.
EPP Team Inc., dba Empire Precision Plastics, told Plastics News it had 2020 injection molding sales of $14 million. It ranked No. 302 out of 589 North American injection molders in Plastics News' most recent survey.
Kouza said it targets established, profitable businesses with strong management teams. Bodman plc law firm of Detroit advised Kouza in the transaction, which was financed by Waterford Bank N.A.
EPP Team was represented by Chicago-based Stout Investment Banking, with Managing Director Mike Benson leading the deal team.