SyBridge Technologies LP continues to accumulate acquisitions, purchasing two more plastics tooling firms: Lakeshore Fixture & Gauge Ltd. in Canada and Action Mold and Machining Inc. The Action purchase includes its tooling unit, Action Tooling LLC; both are in Grand Rapids, Mich.
The deals closed late last year but weren't announced until Jan. 4. Terms were not disclosed. The transactions brought SyBridge's number of acquisitions to six in 2021.
Action launched in 1997, repairing plastic injection molds and tooling. It then added new plastic injection and die-cast injection molds to its offerings using metal additive manufacturing. It also repairs blow molds. In the Plastics News ranking of mold and tooling makers published in October, Action ranked No. 62, with annual sales of $9 million and 45 employees.
Action also has custom injection molding, with seven presses ranging in clamping force from 100-700 tons.
SyBridge said Action gives it five dedicated service facilities in North America and will serve customers in the Midwest.
Lakeshore, based in the town of Tecumseh near Windsor, Ontario, gives SyBridge in-house ability to design, manufacture, certify and repair fixtures, gauges and end-of-arm tooling.
"This marks a significant step for SyBridge to offer a full suite of industrial technology solutions to customers in mobility, life sciences, consumer products and other industries," SyBridge said in a news release. Lakeshore also serves the automotive market.
New York-based private equity firm Crestview Partners launched Southfield, Mich.-based SyBridge Technologies in 2019 to acquire tool and mold companies.
SyBridge's first purchase was Concours Technologies Inc. of Lakeshore, Ontario, which then bought Valiant Tool and Mold Inc. of Windsor in January 2020.
In late 2020, SyBridge acquired Fairview, Pa.-based X-Cell Tool and Mold Inc. to anchor its medical molds unit.
In February 2021, 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.
In October, SyBridge completed its purchase of Pyramid Mold & Tool, a Rancho Cucamonga, Calif., manufacturer of multicavity injection molds.
Pyramid ranked No. 47 in Plastics News' just-published survey of North American mold makers, with $12 million in annual sales.