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Monroe Capital LLC provided financing for the acquisition. Winston & Strawn LLP provided legal representation to Core and Fathom in the transaction.

Medical is the largest application for micro injection molded plastic. In the micro injection molding industry, medical micro molding is a highly specialized sector. As medical equipment gets more miniaturized, they rely on micro injection molded components to provide crucial patient care both within and outside the body.

The key players profiled in the Micro Injection Molded Plastic Market report include Accumold LLC (US), Isometric Micro Molding, Inc. (US), Makuta Micro Molding (US), Precimold Inc. (Canada), MTD Micro Molding (US), Microsystems Precision Medical Moulds (UK), Veejay Plastics Injection Molding Company (US), Knightsbridge Plastics Inc.(California), Polymermedics Ltd. (UK), Manner Solutions For Plastics (Germany), Microdyne Plastics, Inc. (US), SMC Ltd. (US), Mikrotech (US), Sovrin Plastics (UK), Stack Plastics (US), American Precision Product(US), D&M Plastics, LLC (US), Paragon Medical (US), Micro Molding Inc. (US), Spectrum Plastics Group, Inc. (US), Matrix Plastic Products (US), Yomura Technologies Inc (Taiwan), and Barnet Intelligent Materials (US).

Micro Injection Molding Machine Market by Type (0-10 tons, 10-30 tons and 30-40 tons), Application (Medical, Automotive, Fiber Optics, Electronics), and Region (APAC, North America, Europe, MEA, South America) - Global Forecast to 2026 https://www.marketsandmarkets.com/Market-Reports/micro-injection-molding-machine-market-245710637.html

Founded in 1996, Summit provides plastic injection mold design, precision mold making, and close-tolerance injection molding with a specialty in small to medium prototype injection molds. Summit primarily serves long-tenured customers in the medical and packaging end markets with its fleet of more than 30 machines, said Core's announcement.

Europe is the second-largest consumer of micro injection molded plastic, in 2020. Germany, France, the UK are key countries considered in the European region. Increased consumer spending and exports drive the region's economy. Europe has a well-developed automotive sector. It is one of the largest producers of commercial vehicles and has a strong spare parts industry as well. It offers an ideal logistics platform for companies to export to international markets. Europe is an important market for Japanese and US car manufacturers looking to strengthen their position in Europe. Macroeconomic factors such as the recovery of the economy, rising domestic demand, and increase in consumer spending and exports are expected to drive the economic growth of Europe.

Core Industrial Partners’ portfolio company Fathom acquired the precision tooling and injection molding supplier serving customers in the packaging and medical markets.

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In-house metalworking capabilities include engineering design, sheet metal shearing, punching and bending, roll forming, hardware integration, welding, grinding, polishing, painting, and assembly. Summit’s thermoplastics engineering expertise allows the company to process multi-shot and bi-injected tooling and perform insert overmolding. Pad printing, hot stamping, ultrasonic welding, and assembly are also offered by the company, which operates a 26,000-square-foot facility northwest of Chicago in McHenry, IL.

Chicago-based private-equity firm Core Industrial Partners announced today the acquisition of Summit Tooling Inc. and Summit Plastics Inc. by its portfolio company Fathom. The precision tooling and injection molding supplier is the fourth add-on acquisition to the Fathom platform since Core made its initial investment in 2018.

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According to Institute of Industrial Technology and Automation (ITIA-CNR), Micro-components are often smaller than a single grain of granulate. Micro injection molded plastic components are of shot weights of 1 to 0.1 g with tolerances in the range of 10 to 100 microns. This molding process allows manufacturers to produce complicated small geometries with maximum possible accuracy and precision.

“Summit’s focus on customers during the design, prototyping, and low-volume production stages of a product’s life cycle perfectly aligns with Fathom’s unique customer-value proposition,” Fathom CEO Ryan Martin said in a prepared statement. “We’re excited to work with the Summit team to explore opportunities to even better serve its customers through Fathom’s comprehensive digital manufacturing platform while also providing Fathom’s existing customer base expanded domestic quick-turn precision tooling and molding capabilities,” added Martin.

“Summit’s leading customer base includes some of the largest and most recognizable players in the medical and packaging spaces,” said Matthew Puglisi, Partner of Core. “This acquisition significantly enhances Fathom’s domestic injection molding and tooling capabilities, and we’ll continue to actively pursue acquisitions, similar to Summit, that simultaneously broaden our customer base, enhance our service offering, and deepen our presence in attractive, recession-resistant end markets.”

Dan Martin, President of Summit, commented: “Since my wife, Michelle, and I founded Summit 25 years ago, we’ve been committed to providing outstanding quality and customer service to build the business into a leader in the design, engineering, and construction of molds and molded components. We’ve now reached an inflection point in our growth trajectory, and we believe Fathom is the perfect fit in terms of both culture and customer-value proposition to help take Summit to the next level.”

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Micro molds are utilized for various medical processes. Few of the medical molds include surgical devices, endoscopic devices, catheters, hearing aids, point of care testing devices, diabetes management devices, DNA research and sequencing devices, electronic components for medical devices, microfluidics, and pharmaceutical applications, including drug delivery devices, vials, caps, specimen cups, blood collection tubes, syringes, and IV parts. The shifting trend towards miniaturization and nanotechnology in the medical sector is fueling the demand for compatible micro-molds for every medical application.

CHICAGO, Feb. 3, 2022 /PRNewswire/ -- According to the new market research report "Micro Injection Molded Plastic Market by Material Type (Liquid-Crystal Polymer (LCP), Polyether Ether Ketone (PEEK), Polycarbonate (PC), Polyethylene (PE), Polyoxymethylene (POM)), Application and Region - Global Forecast to 2026" published by MarketsandMarkets, the Micro Injection Molded Plastic Market is projected to reach USD 1,692 million by 2026, at a CAGR of 11.2% from USD 995 million in 2021. Micro injection molded plastics are made of micro injection molding technique which is a highly specialized manufacturing process that produces extremely small, high-precision thermoplastic components with micron tolerances, which can be used in various industries such as medical, automotive, electronics and others.

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