GenNx360 Capital Partners’ Portfolio Company Tooling Tech Group Acquires Century Tool Group
Portfolio Company News - April 18, 2018
New York, New York. April 18, 2018 - GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm investing in middle market business-to-business industrial and business services companies, is pleased to announce that its portfolio company, Tooling Tech Group (“TTG”), has completed the acquisition of Century Tool Group (“CTG”), which includes both Century Tool & Gage in Fenton, Michigan, and CTG Bel-Kur Automation in Temperance, Michigan. This is the third acquisition for Tooling Tech Group since GenNx360 invested in the platform in July 2014.
Century Tool Group is a multi-faceted engineering and manufacturing company, providing fully machined, precision compression molds, automation equipment, and secondary fixtures to North American automotive and heavy-truck OEM’s and Tier 1 suppliers. Under the Century Tool & Gage name, the company provides medium to large compression molds for automotive and heavy-truck structural and Class-A exterior components. CTG Bel-Kur, Century’s Automation division, provides automated assembly equipment and fixtures for downstream compression molding operations, ranging from simple manually operated machines to fully automated work-cells.
“Century Tool is a world-class company that fits perfectly with our ‘whatever it takes, on-time, every-time’ operating model,” said Tony Seger, CEO of TTG. “We are excited to partner with them as TTG enters its next phase of growth. This acquisition presents an opportunity for us to expand our already strong position in the automotive, heavy-truck and automation industries.”
About Tooling Tech Group
Founded by Tony Seger in 1982 and headquartered in Macomb, Michigan, the Tooling Tech Group has grown to become the largest tooling company in the United States serving the automotive industry with tooling used to produce a wide variety of vehicle components, including soft-trim, powertrain components, structural stampings, valve bodies, dashboard and under-the-hood components, thermo-acoustic panels, roof components, liquid reservoirs, trunk components, wheel liners and more. Non-automotive uses for the company’s tooling products include manufacturing of appliances, lawn & garden products, consumer goods, off-road equipment, marine products, agricultural equipment, heavy-trucks, industrial blow-molds, kayaks, small engines, and aerospace structures. www.toolingtechgroup.com
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business services and industrial companies. We invest in companies with proven and sustainable business models in expanding industries with the objective of implementing the required operating changes to deliver cost efficiencies, accelerate growth, and generate strong financial returns. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360 Capital Partners. www.gennx360.com
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GenNx360 Capital Partners
Carmen Rojas, Investor Relations Manager
Email: investorrelations@gennx360.com
Tel: +1 212-257-6772