Singapore-based injection molder and toolmaker Sunningdale Tech Ltd. is continuing to expand its North American operations, completing an asset purchase agreement with Proactive Plastics LLC of Phoenix.
Proactive injection molds parts for multinational companies mainly in the industrial and transportation industries.
In addition to acquiring Proactive's assets, Sunningdale said it will continue doing business with Proactive's current customers.
MBS Advisors, a Florence, Mass., investment banking firm focused on plastics, represented Proactive Plastics in the transaction. Financial details were not disclosed.
Michael Friend, Proactive's owner and president, said Sunningdale's international presence will expand the 3-year-old company's engineering and tooling abilities. Sunningdale operates in nine countries.
Sunningdale gained its first U.S. production through its 2020 acquisition of another Arizona-based company, Moldworx LLC in Chandler. Sunningdale bought that injection molder and mold maker for $4 million.
Khoo Boo Hor, Sunningdale CEO and executive director, cited "an ongoing trend towards nearshoring" and "global shifts in supply chains" as reasons for his company's interest in growing its North American presence.
With more than 1,150 injection molding machines in 17 plants, Sunningdale serves the automotive, consumer/information technology, health care and tooling industries.