TP Tools OY, a family-owned business with more than three decades of expertise in tire mold manufacturing, has acquired a FormUp 350 metal powder bed fusion machine from French metal AM hardware manufacturer AddUp. This strategic move positions TP Tools at the forefront of innovation and efficiency in the production of tire sipes, a critical component in tire mold manufacturing.

Echoing those comments, Blackford Capital founder and managing director Martin Stein noted that IMC’s seasoned leadership team and deep expertise in the plastics injection molding industry will be a “capability multiplier for our customers.” The acquisition, he added, builds a “solid foundation for accelerated and sustained growth within the Davalor platform, paving the way for continued expansion and innovation.”

Founded in 2010, Blackford Capital focuses on the acquisition and management of founder- and family-owned lower middle-market companies in the manufacturing, industrial, and distribution sectors. The company is based in Grand Rapids, MI.

Founded in 1947 and based in Lubbock, TX, IMC molds precision components for global customers in a variety of end markets. The long-tenured management team will continue in their current roles, said the news release.

Private equity firm Blackford Capital has acquired Industrial Molding Corp. (IMC), the first add-on acquisition for its portfolio company, Davalor Mold Co. IMC is an independently run subsidiary of NN Inc., a precision metal manufacturer based in Charlotte, NC, with a global footprint. NN Inc. said total net cash proceeds would reach approximately $16 million. IMC is NN’s sole plastics processing plant and, as such, was targeted for divestment because it was not core to its strategic direction.

Lastly, the reliability of the FormUp and AddUp’s technology is successful in industrial operations, demonstrating consistent repeatability across the built plate, from one production cycle to the next, and even across different machines operating with the same parameters.

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“We are thrilled to announce the acquisition of the FormUp 350 Powder Bed Fusion machine from AddUp. This strategic investment allows us to optimize our manufacturing process, shorten lead times, and most importantly, accelerate new developments in tire mold innovations” explained Marko Pirhonen, owner of TP Tools OY.

The FormUp 350 also offers unique key features to support tire sipe applications for mold production. The 350mm squared build plate enables the production of entire segments of tire molds, showcasing its capacity for efficient and comprehensive manufacturing. Additionally, the integration of a roller and fine powder contributes to achieving unparalleled surface roughness as-printed, thereby minimizing the need for post-processing.

Blaige & Co. served as the exclusive financial advisor to NN Inc. on the transaction. Greenberg Traurig LLP served as counsel for Blackford Capital, with legal entity support from Varnum LLP. Parliament Capital Management provided lending for the acquisition, with legal support from DLA Piper. Plante Moran advised on financial and tax diligence, and Signature Associates CRE brokered the Sale Leaseback transaction with STORE Capital.

“We are excited to welcome the IMC team to Davalor. We are committed to providing our customers with the most advanced, most reliable injection molded plastic products available," said Davalor CEO John Boeschenstein. "As we seek to expand our capabilities beyond our core plastic injection molding offering, we are thrilled to have found a strategic partner with a great management team, a professional and highly capable staff, and a strong, design-for-manufacturing approach to injection molded plastics. I look forward to working together to expand our capabilities on a national scale."

TP Tools has established itself as a trusted partner in tire mold manufacturing, with business continuing to grow. The company’s expertise in tire mold manufacturing, coupled with the latest technological addition of the FormUp 350, reaffirms TP Tools’ commitment to delivering quality, safety, and performance in every tire mold produced. The Finnish company has been at the center of the tire mold industry for over three decades and it has been heavily involved in developing better and safer products in the birthplace of winter tires since the 1970s.

TP Tools’ decision to bring tire sipe production in-house marks a significant shift aimed at reducing costs associated with outsourcing. By streamlining the manufacturing process, the company not only saves on expenses but also shortens lead times, enhancing overall operational efficiency. With the acquisition of the FormUp 350, the company gains greater control over the production process, aligning with its commitment to delivering high-quality tire molds for its clients.

1,346 polymer and metal AM companies and 143 end-users. Consumer products AM generated $2.6 billion in 2023. Segment expected to grow to $28 billion by 2033 at 26.8% CAGR. This new market study fro...

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Headquartered in Chesterfield, MI, Davalor provides injection molding services primarily for the automotive industry. It was acquired by Blackford Capital in 2016, and the addition of IMC to the portfolio “marks an initial stride toward establishing a global, full-service plastics injection molding business with a range of capabilities and a diversified, global customer base,” said Blackford Capital.

TP Tools OY Manufacturing FacilityThe FormUp 350 Powder Bed Fusion machine from AddUp introduces new possibilities for TP Tools in tire sipe design. With on-site metal 3D printing capabilities, TP Tools is poised to accelerate developments and innovations within the tire sipe landscape. This move not only maximizes production efficiency but also opens doors to highly customized and complex geometries, enabling the creation of innovative tire mold designs.