Precise Mold & Plate acquires ErgoStation® product line to expand its portfolio of tooling solutions
ZEELAND, MI October 27, 2016 — Extol today announced the divestiture of its ErgoStation line of height-adjustable workstations and machine bases. The divestiture is consistent with Extol’s strategy to focus the organization on processes and products that improve the way plastic products are made for its customers.
“We received very attractive offers from many interested buyers,” said Extol Chief Executive Officer Randy Antaya. “My colleagues and I were deeply involved in interviewing prospective buyers. We selected Precise as a partner because we fully intend to continue purchasing ErgoStation products from Precise to meet our internal manufacturing needs, as well as the packaged solutions we provide to our customers.”
Antaya went on to say, “We ultimately selected Precise because of their demonstrated track record in manufacturing world-class tooling solutions. During the interview process, we learned that Extol and Precise serve many of the same customers, and that both cultures hold similar values. So we’re very excited to pass the baton to Precise as they expand ErgoStation’s footprint with U.S. manufacturers.”
“We’re delighted to add ErgoStation products to the solutions we provide to our customers,” noted Don Dumoulin, CEO / Owner of Precise. “Hardly a week goes by that an injection mold or plate machining customer doesn’t ask us about building custom workstations or machine bases. Now we can respond with an enthusiastic ‘Yes!’ He went on to say, “Our ongoing investment in five-axis CNC technology and enhanced training for our craftsmen enable us to provide the innovative, cost-competitive solutions our blue chip customers expect.”
Regarding their plans, Dumoulin said, “We believe the ErgoStation product line is well positioned for the resurgence in U.S. manufacturing. ErgoStations are height-adjustable, exceptionally rugged, and highly configurable. They are also affordable, making this a winning combination with industrial manufacturers and machine configurators across multiple industries.”
The transaction closed today. Financial terms of the deal were not disclosed.
Grand Rapids-Michigan, based Calder Capital, LLC served as the exclusive M&A representative of Extol, Inc. Regarding the transaction, Calder Managing Parter Max Friar stated, “The ErgoStation transaction was picture perfect and we are very pleased at the speed, transparency and professionalism with which all parties handled the process. We brought multiple strong offers to the table within 30 days and the transaction closed in less than 3 months. Bringing the right price, terms and cultural fit are all critical to the successful consummation of every deal and we are extremely happy to say that every one of those criteria were met.”
Regarding the current deal market, Friar noted: “This is Calder’s 11th transaction of 2016. The market is hot. We continue to receive strong interest from buyers and sellers, particularly for West Michigan manufacturing companies. We have recently completed three transactions (Extol ErgoStation®, Impres Engineering Services, LLC & Baumann Tool & Die) in the Holland-Zeeland corridor. We work closely with numerous buyers looking in the area. It’s a great place to be a seller.”
About Extol: Extol is an engineering and innovation company that improves the way plastic products are made. They work with their customers to develop a robust product and process solution through prototyping and testing. They also provide production equipment to meet their customers’ unique needs and then support that equipment globally.
The company continues to develop better methods of welding and assembling plastic components for its automotive, life science, and consumer product customers.
Extol offers welding joint design consultation, application lab testing, and prototype services in their Process Development Center. They also offer equipment concepts and manufacturing line configuration assistance in their Manufacturing Solutions Center.
The company designs and manufactures both custom and pre-engineered plastics-joining equipment. Standard products include patented infrared staking (InfraStake®) and welding (InfraWeld®) technologies along with servo-driven hot-plate welding (Rapid Conductor®) and spin-welding (Vortex Precedence®) machines.
Extol was founded in 1985. Its headquarters are located in beautiful West Michigan, with a sales and support network strategically positioned across North America, Asia, and Mexico.
Please visit www.extolinc.com to learn about how the Company improves the way plastic products are made.
About Precise: Category leaders in the automotive, aerospace and consumer goods industries partner with Precise Mold & Plate for world-class craftsmanship, on-time delivery and fair price.
Manufacturers trust Precise to design, craft and repair plastic injection molds many other firms won’t tackle. The Company’s craftsmen are highly experienced in every phase of injection mold tooling, custom machining services and precision weldments. Plastics manufacturers don’t like down time, so Precise manages its capacity to enable fast turnaround on engineering changes & mold repairs—including those designed or built elsewhere.
Precise’ capabilities range from simple prototype molds to multi-cavity, insert, and shuttle molds. Privately owned since 1979, the Company’s state-of-the-art facility in Columbus, Indiana includes the latest five-axis CNC machining centers and EDMs.
Please visit precisemold.com to learn more about the Company’s capabilities, craftsmen and customers or call John Rowe at 952.221.1926 for more information.
“We approached Calder Capital in July 2016 regarding our desire to divest of the ErgoStation product line, which we had manufactured for decades, however no longer fit our strategic focus to improve the way that plastic products are made. Max Friar presented us with a comprehensive and professional marketing plan, and we engaged Calder in August. We are very pleased to say that within 30 days Calder had produced 5 attractive offers from very qualified buyers! We successfully consummated a transaction in less than 3 months and are extremely pleased with the outcome. Most importantly, Calder found us a buyer with similar values and expectations as Extol, which made the transaction a joy to work on. We would definitely recommend Calder Capital to any company seeking to divest of a product line! Thank you Max & Scott for your efforts!”
– Kyle Harvey, Product Manager, Extol, Inc.