Dennis Savalia has continued his buying spree by acquiring injection molder Molding Corp. of America for an undisclosed price.
Savalia acquired Pacoima, Calif.-based MCA on Feb. 28. He's now made seven plastics acquisitions in less than four years. MCA is the largest of the seven, all of which are located in Southern California.
In an email to Plastics News, Savalia said that MCA operates 27 injection molding machines at a 65,000-square-foot location. He's acquiring the firm from Mark Hurley and Sandra Rinder. MCA was found in 1964 in Los Angeles County.
The combined businesses acquired by Savalia now employ more than 100. He'll take on the roles of president and CEO of MCA.
The MCA deal is Savalia's first since acquiring Performance Engineered Products Inc. of Pomona in late 2018. He then combined his previous acquisitions at PEP's location.
In 2017, Savalia acquired Honor Plastics, Pearce Plastics Inc., Precision Plastic Concepts Inc. and Kowalski Molding Service Inc. and its machine shop. In 2018, he added Target Molds Inc.
According to Plastics News data, MCA has 65 employees and 2020 fiscal year sales of $9 million. PEP had 95 employees and sales of $12 million.