Blackford Capital, a private equity firm, announced on Wednesday that it has acquired Industrial Molding Corp. or IMC, an injection molded plastic products maker and a subsidiary of NN, Inc. (NNBR).
The financial terms of the transaction are not known. The transaction is the first add-on acquisition for Blackford portfolio firm Davalor Mold Co., LLC, a manufacturer and distributor of injection molded plastic products primarily for the automotive industry.
Martin Stein, Managing Director of Blackford Capital, said: "Industrial Molding Corporation is an exceptional addition to the Davalor platform, expanding strength of leadership and depth and breadth of capability. With the addition of IMC, we are building a solid foundation for accelerated and sustained growth within the Davalor platform, paving the way for continued expansion and innovation."
Post transaction, Davalor and IMC will operate as separate business units.
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