Sunningdale Tech Ltd., a precision injection molder and toolmaker based in Singapore, now has a U.S. manufacturing base.
Publicly traded Sunningdale bought Chandler, Ariz.-based Moldworx LLC on Nov. 6 for $4 million.
"This marks Sunningdale's first expansion into the U.S.," Jim Taylor, founder and owner of Moldworx, said.
Sunningdale has 18 manufacturing plants in Asia, Latin America and Europe, and it already had a support office in Michigan. The company has four units: automotive/aerospace, consumer/information technology, health care and tooling.
CEO Khoo Boo Hor said some U.S. health care customers have "indicated a strong interest" to expand their business with Sunningdale.
"The acquisition is in line with our forward-looking plans to accelerate growth for our health care segment as it will allow us to capture new business opportunities in the large U.S. market," he said.
Sunningdale considered building a greenfield U.S. molding business but acquired Moldworx for a speedier route into the market.
Taylor said he was not particularly looking to sell his 25-year-old business, but when a good offer came along, he decided it was time.
Sunningdale will retain the Moldworx name and all 35 employees, including Taylor, who is now vice president and general manager, as well as his business partner Joe Motyka, who is now director of operations.
Taylor said he connected with Sunningdale through a former owner of Tech Group, a Scottsdale, Ariz.-based molder that was sold to West Pharmaceutical Services Inc. in 2017. Tech Group used to have an ownership stake in Sunningdale.
"The president of Sunningdale reached out to the former owner of the Tech Group looking for info on who might be a good fit in the Southwest for Sunningdale to expand," Taylor said. "The former Tech Group owner reached out to a former Tech Group salesperson, whom I know, and the sales person introduced both me and Joe. … The four of us went to dinner and that started the conversation."
Because of COVID-19 and travel restrictions, Taylor said that was the only in-person meeting they had through the acquisition process.