SyBridge Technologies Inc., the company that has acquired a dozen firms since 2019 to become a leading supplier of tools and technology in North America, has named a new CEO.
Byron Paul will become the Southfield, Mich.-based company's new CEO and a member of SyBridge's board, the company announced Sept. 6.
Paul, who will be based in Southfield, replaces Tony Nardone, who left the company this month to "to pursue other interests," according to a news release.
"We appreciate the many contributions Tony has made to SyBridge and wish him well in his future endeavors," stated Jason Luo, chairman of SyBridge Technologies' board of directors and an operating executive at Crestview Partners, the $10 billion New York City private equity firm that owns the company.
Nardone could not immediately be reached for comment Tuesday morning.
Paul was most recently group president at Tampa, Fla.-based Signode Industrial Group, focused on packaging technologies and warehouse automation technologies including plastics, and has held several other roles, including president of Auburn Hills-based automation company Destaco.
"I am thrilled to be joining a world-class team at SyBridge Technologies," Paul said in the release. "They have done an outstanding job expanding SyBridge Technologies' global reach, growing from three sites in 2019 to 16 locations today. I look forward to partnering with the Board and Crestview Partners as we embark on the next phase of growth to build an unrivaled leader in digital manufacturing."
SyBridge was formed by Crestview in 2019 and backed with $200 million in equity. The company has made 12 acquisitions since then, most recently buying consumer products mold maker Calframax Technologies Inc. of Ontario. In May, it acquired Fitchburg, Mass.-based Wachusett Precision Tool Inc.
In March, SyBridge acquired Advantage Engineering Inc. in Windsor, Ontario, to offer online quoting for digital rapid prototyping and additive manufacturing as well as bridge tooling.
Other acquisitions have included Active Industrial Solutions Inc. in Windsor; Pyramid Mold & Tool in Rancho Cucamonga, Calif.; Lakeshore Fixture & Gauge Ltd. in Windsor; Action Tooling LLC in Grand Rapids, Mich.; Concours Technologies Inc. of Lakeshore, Ontario; Valiant Tool and Mold Inc. of Windsor; X-Cell Tool and Mold Inc. in Fairview, Pa.; Toolplas Mexico of Querétaro, Mexico; and Toolstats software platform.
The Concours business is No. 3 in the most recent Plastics News ranking of North American mold makers with $154 million in annual sales.