Owned by the Cluthe family for more than 50 years, Moldco Inc. is an injection molding company operating out of the Kitchener-Waterloo Region serving customers in a variety of industries in both Canada and the U.S. The company has long standing reputation for high quality products, superior customer service and innovation.
To allow him to focus on another business which does not compete with Moldco, the owner decided to sell the business and set up the spin off business in a new dedicated facility.
The timetable was structured around the fact that the company had recently made a major investment in new customized manufacturing equipment tapping new markets and generating incremental sales. Once this equipment was installed and orders were in the system, we were in a stronger position to sell the business as the buyer could see tangible proof of the sales and profit upside post ownership change.
Interest in the business was strong with multiple offers received. In March 2020, the business was sold to Injection Technologies Inc. who are running Moldco Inc. as a subsidiary operation capitalizing on 50 years of goodwill. Sales of the combined companies exceed $15 million annually.