SyBridge Technologies LP has completed its purchase of Pyramid Mold & Tool, a Rancho Cucamonga, Calif., manufacturer of multicavity injection molds.
Pyramid is SyBridge's fifth acquisition in just 10 months.
Florence, Mass.-based Molding Business Services Inc., dba MBS Advisors, represented SyBridge in the Pyramid deal, which was announced Oct. 18.
Founded in 1995 by Steve Hoare, Pyramid produces complex, high-cavitation precision molds for the medical, packaging and electronics markets. The company will be folded into SyBridge, and Hoare will become SyBridge's western region president, reporting to Bill McDonough, president of the SyBridge Life Sciences business unit.
SyBridge has big plans for the unit, McDonough said.
"Life Sciences … is a key strategic growth area for SyBridge Technologies. Adding Pyramid is an important step to expand our presence on the West Coast and be closer to our core customers," he said Oct. 20 by email. "We plan to grow our Life Sciences business unit through both organic growth and further acquisitions."
Pyramid ranked No. 47 in Plastics News' just-published survey of North American mold makers, with $12 million in annual sales. Its plant has 31,000 square feet of manufacturing space, 55 workers and more than 50 stations for machining molds.
Southfield, Mich.-based SyBridge was launched in 2019 by private equity firm Crestview Partners of New York to acquire mold and tool companies.
SyBridge's first purchase was Concours Technologies Inc. of Lakeshore, Ontario, which then bought Valiant Tool and Mold Inc. of Windsor, Ontario, in January 2020. Late last year, SyBridge acquired Fairview, Pa.-based X-Cell Tool and Mold Inc. to anchor its medical molds unit. MBS Advisors also assisted in the X-Cell transaction.
In February of this year, Concours bought mold manufacturer Active Industrial Solutions Inc. (AIS), also of Windsor.
Plastics News ranked Concours as North America's third-largest mold maker, with 2020 sales of $154 million, eight plants and 630 employees.