NewCo, a platform formed by White Wolf Capital Group ("White Wolf"), is a vertically integrated provider of custom plastic injection molded parts and custom molds based out of Lockport, Illinois. NewCo's acquisition of Magenta and its affiliates provide a diversified custom injection molding solution for customers within the healthcare, personal care, biotechnology, chemicals, food & beverage, and a vast array of end markets. The acquisition of Magenta solidifies NewCo's commitment to providing mission-critical manufacturing services to its robust customer base across the medical, personal care, pharmaceutical, and industrial end markets.

Heyco-Werk plans a 65,000-square-foot production facility and show room for its injection molding at a 10-acre site at the Apple Creek Corporate Center, located just west of the town of Dallas. That’s about 70 miles from BMW’s massive manufacturing operation in Greer, South Carolina.

North Carolina has more than 250 automotive manufacturing companies, says N.C. Commerce Secretary Machelle Baker Sanders.

This latest investment will mark LO3 Capital's tenth investment since the fund's launch in September of 2022. Glenn Harrison, Managing Director and Co-Founder of LO3 Capital, said, "We have a long-standing relationship with White Wolf and we look forward to supporting them as they continue their growth strategy with NewCo plastics."

Founded in 1937 in Remscheid, Germany, by Max and Ernst Heynen, the Heyco Group has eight sites worldwide and employs approximately 1,250 people. It is a leading supplier of products and engineering services in the area of metal and plastic processing technology.

“We are thrilled to expand our manufacturing footprint to North Carolina and join the close network of German-based manufacturers in the region,” said Daniel Dittmar, CEO and president of Heyco-Werk USA. “HEYCO benefits from the central location that provides access to major hubs to our specialized supply chains and strong customer base. We are excited to invest in new technologies and to create high-quality manufacturing jobs in Gaston County.”

“I’m happy we can continue to provide jobs in Gaston County and especially when the average way is considerably higher than our average,” says Chad Brown, chairman of the Gaston County Board of Commission.

Heyco-Werk USA was established in 2014 and began manufacturing in Emporia, Virginia, in 2019. The company manufactures precision plastic molded parts for the automotive industry as well as various industrial markets. Manufacturing automotive products for all BMW SUV models worldwide, this expansion to a second location in North Carolina will help meet the growing needs of BMW and other European car manufacturers in North America, according to a release.

A company that manufactures plastic molded parts for the automotive industry will invest $12.75 million in Gaston County to build a manufacturing site. Heyco-Werk will also create 34 jobs in the county, according to a release.

About LO3 CapitalLO3 Capital is a minority-owned private investment firm committed to helping lower-middle market companies grow. The firm has offices in Nashville, New York and Dallas and targets business with over $3 million of EBITDA across a variety of industries. LO3 Capital partners with management teams, business owners, and private equity firms to finance organic growth, acquisitions, recapitalizations, and ownership transitions. LO3 Capital was previously a division of Live Oak Growth Capital and continues to manage the Live Oak Growth Capital funds. For more information, please visit lo3capital.com

LO3 Capital, a private investment firm providing transformative capital to lower-middle market companies, announced today a senior subordinated debt...

Elie Azar, White Wolf Capital Group Founder, CEO and CIO, added, "NewCo Plastics and White Wolf are excited to partner with the talented teams at Magenta. We're well-positioned to offer a broader range of services and deliver an even better experience to our valued customers."

NEW YORK, May 28, 2024 /PRNewswire/ -- LO3 Capital, a private investment firm providing transformative capital to lower-middle market companies, announced today a senior subordinated debt and equity investment to support NewCo Plastics ("NewCo") acquisition of Magenta LLC and its affiliates, Permian Plastics LLC, and MM Plastics LLC (collectively, "Magenta").

LO3 Capital, a private investment firm providing transformative capital to lower-middle market companies, announced today a debt and equity...