Tuscon, Ariz.-based fuel systems supplier Walbro Corp. has acquired the assets of Cascade Engineering Inc.'s powersports business including a 50,000-square-foot facility in Grand Rapids, Mich.
"We fast-tracked this acquisition as it aligns well with our long-term vision of growing our product offerings in the markets we serve," Mike Coyle, president of fuel systems at Walbro, said in a Nov. 30 news release. "Additionally, the significant growth planned for this site in the coming years made it extremely attractive."
Walbro will continue to operate the business out of the same facility with the former Cascade team.
"We see Grand Rapids … as a desirable location to secure the required talent supporting the growth with the larger pool of resources within the area," Coyle added. "We already operate in Michigan and close proximity to support this site from our existing location as well."
"Our team is excited with this bolt-on acquisition and we welcome our expanded team members," Chris Quick, executive vice president of fuel systems at Walbro, said. "We see this as an opportunity to serve our existing customers with new product lines, along with new relationships with the added customers served by Cascade."
Walbro did not respond to request for comment by Plastics News.
The sale marks the second divestiture for Cascade this year. In July, it sold CK Technologies, a supplier to commercial trucks and buses, to Creative Liquid Coatings Inc.
"As we shift our focus to our large-tonnage business, we could not have found a better buyer for Cascade Powersports given Walbro's excellent reputation with our customers, experience with plastic injection molding and intention to continue operations at our [existing] facility," Greg Bylsma, CEO of Cascade, said in the release.
Cascade Powersports molds plastic parts primarily for OEM's in the powersports industry, including Harley-Davidson, Polaris and Honda Powersports, among others. Its capabilities include injection molding, three-dimensional suction blow molding, vibration welding, ultrasonic welding, spin welding, CNC machining and assembly.
A portfolio company of Nova Capital Management and Landon Capital Partners, Walbro manufactures high-pressure aluminum die cast and blow molded plastic products for the lawn and garden, recreational and marine, construction, agriculture, and outdoor power equipment markets. It manufactures carburetors, ignition systems, fuel injection systems, pumps, valves and fuel storage and delivery systems.