“Our CEE team members have showed entrepreneurship at its finest, growing this organization from the early days of making small trinkets to what it is today as a leader in the fluid connector business,” Keller said.

Berry said this acquisition will further enhance its global tooling capabilities as well as bring proprietary technologies in the closures and bottles space, specifically targeting high-end growth markets.

The transaction was valued at $27.7 million (25.4 million euros), according to a statement. The acquisition includes an almost 70,000-square-foot facility. TIFS will keep on CEE’s 349 employees.

The latest transaction follows a series of divestitures for Cascade Engineering. Last year, Cascade sold its power sports business to Tuscon, Ariz.-based Walbro Corp. It also sold its business unit, CK Technologies, which injection molds parts for commercial trucks and buses, to Kendallville, Ind.-based Creative Liquid Coatings Inc.

“I would like to extend a warm welcome to CEE’s staff, and we look forward to working alongside them as we continue to follow our growth strategy,” Dieltjens added.

Cascade Township-based Cascade Engineering Inc. has sold its Budapest, Hungary-based injection molding business Cascade Engineering Europe to Auburn Hills, Mich.-based automotive supplier TI Fluid Systems.

Angle Advisors acted as the exclusive investment banking adviser to Cascade Engineering and CEE through the transaction.

F&S Tool operates a 90,000-square-foot facility in Erie, PA, with 11 issued or pending patents. Just over 100 employees serve a broad spectrum of plastics manufacturers. Founded in 1983, F&S Tool cites packaging, medical, and closures as core applications.

Crain's Grand Rapids Business launched in 2023, bringing together MiBiz, the Grand Rapids Business Journal and Crain Communications to create the top source of business news, analysis and information in West Michigan.

Cascade Engineering Inc. did not respond to requests for comment by Plastics News, which is owned by Crain Communications.

The self-described global leader in sustainable plastic packaging operates more than 11 tooling manufacturing locations across the world. With this acquisition, Berry’s customers will have access to a full suite of tooling capabilities, including injection, blow, compression, and thermoforming molds that can be integrated into their existing product orders.

CEE is expected to generate 2023 sales of $37.4 million (35 million euros) for TI Fluid Systems, a supplier of thermal and fluid system solutions for the automotive market in 28 countries.

“Our acquisition of CEE is tangible evidence that we are delivering on our electrification strategy,” Hans Dieltjens, president and CEO of TI Fluid Systems, said a Nov. 6 news release. “By integrating CEE’s operations and expertise into our global business, we are growing our market share in thermal fluid connectors for electric vehicles — a critical segment for us.”

The Informa Markets Engineering network of B2B media sites includes Design News, Battery Technology, Medical Device & Diagnostic Industry (MD+DI), Packaging Digest, PlasticsToday, and Powder & Bulk Solids.

Packaging giant Berry Global Group Inc. has added to its portfolio F&S Tool, a specialized provider of high-output, high-efficiency hot-runner injection and high-volume compression molding applications.

“This strategic move allows for greater opportunity for CEE in alignment with a large multinational organization and is a smart move for Cascade Engineering as it allows us to focus on our core,” Christina Keller, CEO of Cascade Engineering Inc., said in a statement.

Cascade Engineering Europe designs and manufactures thermal fluid connectors and other complex plastic injection molded components for the automotive industry.

“The integration of F&S Tool’s talented teams and market-leading innovation capabilities combined with Berry’s global operations reinforces the company’s commitment to providing customers across the globe with access to its industry-leading range of products in core markets while offering the benefits of local service and speed,” said Berry Global CEO Kevin Kwilinski in a prepared statement.

The combination of a vast selection of tooling with Berry Global’s regionally-based knowledge offers customers a competitive advantage by providing faster turnaround from start to finish and greater assurance that the molds will fit its production lines, said the company in the news release.

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