Persico SpA has acquired Precision Mold Services Inc. of Blaine, Minn., and will relocate some of Persico's Michigan operations and employees to Blaine.
Precision Mold Services, founded in 1999, is being renamed Persico Rotomolding USA Inc. The company repairs molds for rotational molding and does computer numerically controlled mold manufacturing.
Persico said it will keep its automotive-related operations in Rochester Hills and Shelby Township, Mich. Persico Automotive manufactures molds, tools and equipment for making interior and exterior parts for cars and industrial vehicles — parts such as composite body panels, upholstery, and heat and sound insulation systems.
Nembro, Italy-based parent Persico SpA, founded in 1976, makes the Leonardo and Smart automated rotomolding machines. It created Persico USA in 2013 when it acquired Autoplas Systems Ltd. of Rochester Hills.
Persico also makes custom racing yachts, tools and equipment for medical applications and performs composite molding for the aerospace and aeronautics industries. According to its website, Persico Group had 2020 sales of $172.8 million.
Becker & Poliakoff law firm of Fort Lauderdale, Fla., assisted Persico in the transaction. Financial details were not disclosed.