Blackford Capital, a leading lower middle market private equity firm, has acquired Industrial Molding Corporation (IMC) from NN, Inc. This purchase marks the first add-on acquisition for Blackford’s existing portfolio company, Davalor Mold Company, LLC. IMC, founded in 1947 and based in Lubbock, Texas, is renowned for its precision-engineered injection molded industrial components and boasts an experienced management team set to continue in their roles. Davalor, specializing in injection molded plastic products for the automotive sector, has seen rapid growth under CEO John Boeschenstein. The integration of IMC is expected to produce significant cost and growth synergies, enhancing Davalor’s national capabilities. Other advisors in the transaction involved financial services from Blaige & Company, legal counsel from Greenberg Traurig, LLP, among others, and lending support from Parliament Capital Management.
Private Equity, Manufacturing, Automotive, Financial Advisory, Legal Services,United States
https://www.globenewswire.com/news-release/2024/07/03/2908130/0/en/Blackford-Capital-Acquires-Industrial-Molding-Corporation-from-NN-Inc.html