Moldco sold to Injection Technologies
The Company
Owned by the Cluthe family for more than 50 years is an injection molding company operating out of is own manufacturing facility in the Waterloo Region serving customers in a variety of industries across Canada and the U.S. Over the years, the company had established a reputation for high quality products, superior customer service and innovation.
The Divestiture
The owner made the decision to sell the business to focus his attentions on another non-competitive business he had already set up. Based on a major investment in customized equipment to tap new markets the business was growing. In the information package, we therefore emphasized the incremental sales and profits resulting from this investment.
The Results
Interest is the business was strong with several offers received. As announced in, March 2020, the business was sold to Injection Technologies Inc. Sales of the combined companies exceeded $15 million annually.