Photos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/1a085ecb-39c6-4fd8-9d69-5ea8b4645ddehttps://www.globenewswire.com/NewsRoom/AttachmentNg/d5c29c8e-1bd5-46cc-b045-6f3ce01f6853

Perfectly timed to realize strong cost synergies and drive non-organic growth, the acquisition of IMC is the first addition to the Davalor platform since being acquired by Blackford Capital in 2016. The expanded platform marks an initial stride toward establishing a global, full-service plastics injection molding business with a wide range of capabilities and a diversified, global customer base.

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Inovar Communications is the only publishing company solely dedicated to serving the Powder Injection Moulding (PIM, MIM, CIM), Powder Metallurgy (PM) and metal Additive Manufacturing (AM/3D Printing) industries.

Nick Williams, Managing Director of Inovar Communications Ltd and Editor of PIM International, stated, “The decision to make PIM International available as a free digital publication will further broaden our readership within the PIM industry, and serve to promote MIM and CIM technology to the end-user communities worldwide.”

Our audience includes component manufacturers, end-users, materials and equipment suppliers, analysts, researchers and more.

In addition to providing extensive industry news coverage, Metal AM magazine is known for exclusive, in-depth articles and technical reports.

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Powder Injection Moulding International, the magazine for the Metal Injection Moulding (MIM) and Ceramic Injection Moulding (CIM) industries, is now available for the first time as a free digital download.

Many objects we encounter in everyday life including surgical instruments, dental brackets, cars, mobile phones, watches, computers, firearms, domestic appliances, cameras and power tools contain PIM parts, to name just a few markets.

GRAND RAPIDS, Mich., July 03, 2024 (GLOBE NEWSWIRE) -- Blackford Capital (“Blackford”), a leading lower middle market private equity firm, announced today the acquisition of Industrial Molding Corporation (“IMC”), an injection molded plastic products manufacturer and subsidiary of NN, Inc. (NASDAQ: NNBR), as the first add-on acquisition for its portfolio company, Davalor Mold Company, LLC (“Davalor”).

“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. 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,” said Boeschenstein.

In addition to publishing Powder Injection Moulding International, Inovar Communications also publishes Powder Metallurgy Review and Metal Additive Manufacturing.

“Industrial Molding Corporation is an exceptional addition to the Davalor platform, expanding strength of leadership and depth and breadth of capability. Their seasoned leadership team and deep expertise in the plastics injection molding industry will be a capability multiplier for our customers,” said Martin Stein, founder and managing director of Blackford Capital. “With the addition of IMC, we are building a solid foundation for accelerated and sustained growth within the Davalor platform, paving the way for continued expansion and innovation.”

“Despite the rapid and ongoing growth in the industry, there remains a serious lack of awareness about the capability of the technology amongst many design engineers. PIM International provides a window into the industry. Since our launch in 2007 our subscription base has grown every year and we will continue to serve subscribers with a high quality print edition of our magazine.”

Launched in 2007, the quarterly PIM International magazine quickly established itself as the essential publication for those involved in MIM and CIM worldwide thanks to high quality editorial content that ranges from technology developments and application reviews to company profiles, industry news and technical papers.

The 80 page June 2014 issue of PIM International (Vol. 8 No. 2), which is now available for download from www.pim-international.com/magazine, includes a profile on one of the world’s largest MIM parts producers, ARCMIM, as well as articles on managing quality in the MIM process chain, innovations in the processing of titanium MIM parts and advances in the production of aluminium MIM.

Powder Injection Moulding (PIM), which encompasses Metal Injection Moulding and Ceramic Injection Moulding is a major manufacturing technology with estimated global sales of more than $1.5 billion. Asia is the world’s largest PIM producing region, followed by Europe and North America. MIM accounts for around 90% of the market for PIM products, which as a whole is seeing annual growth of between 10-20% worldwide.

Davalor, a manufacturer and distributor of injection molded plastic products primarily for the automotive industry, is headquartered in Chesterfield, Michigan. Under a new leadership team that includes CEO John Boeschenstein, Davalor's business has experienced rapid organic growth and an expanding customer mix in recent years.

IMC is an independently run subsidiary of global precision metal manufacturer NN, Inc. Founded in 1947, IMC is a leading manufacturer of precision-engineered injection molded industrial components with international blue chip customers in a wide variety of end markets. The Lubbock, Texas-based manufacturer has an exceptional, long-tenured management team who will continue in their current roles.

Blaige & Company 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.

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About Davalor Mold CompanyFounded in 1979, Davalor Mold Company is a manufacturer and distributor of injection molded plastic products. Headquartered in Chesterfield, Michigan, Davalor offers a wide variety of molded plastic products found in OEM level automotive corporations, which are supplied by Tier 1 automotive suppliers. To learn more about the company, visit www.davalor.com.

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About Blackford Capital Founded in 2010, Blackford Capital is a private equity investment firm headquartered in Grand Rapids, Michigan. Blackford acquires, manages, and builds founder and family-owned, lower middle-market companies, with a focus on the manufacturing, industrial and distribution industries. Blackford has a track record of exceptional returns, a disciplined and relentless approach to value creation, and a focus on operational excellence and a compelling culture. In 2023, Blackford Capital was named to Inc’s list of Founder-Friendly Investors, was recognized by ACG Detroit with the 2023 M&A Dealmaker of the Year Award and awarded the 2023 Small Markets Deal of the Year award by both Buyouts Magazine and the Global M&A Network Atlas Awards. For more information, visit www.blackfordcapital.com.

Metal AM magazine, published quarterly in digital and print formats, is read by a rapidly expanding international audience.