Chicago, Illinois, Peabody, Mass., and s’-Gravendeel, The Netherlands/September
03, 2003/ -- Synventive Molding Solutions, one of the world’s largest
designers, manufacturers and suppliers of hot runner systems and related
components to the injection molding industry, announces that it has
been acquired by Madison Capital Partners, an investment group based
in Chicago, USA.
Synventive has four manufacturing facilities; one in Peabody, USA,
one in s’-Gravendeel, The Netherlands and two in Bensheim, Germany and
employs over 600 people worldwide. Synventive has a global network of
branch offices that provide sales, engineering and service to customers
in more than 30 countries.
Madison has extensive experience in the plastics industry and with this
acquisition will further expand its portfolio of companies in the plastics
industry.
"It is our objective to buy, build and grow industrial manufacturing
companies with a strong reputation, well-recognized brand name and a
strong management team," says Larry Gies, Madison’s president and CEO.
"With Madison as our new partner the long-term continuity and growth
of our business is ensured" says Hub Cilissen, president and CEO of
Synventive Molding Solutions. "Our vision is to become the injection
molding industry’s leading solutions provider of choice and we believe
that our new partner will help us to achieve this objective. They recognise
and enforce our core strengths, the spirit of the people who embody
our organization, and our guiding principles of innovation and commitment
to developing strong, long-term customer relationships."
Synventive is a leader in hot runner technology currently holding 39
patents and has 79 patents applications pending worldwide. Its Dynamic
Feed® technology is the only control system in the industry that is
able to independently control the rate of filling and packing pressures
of each cavity of a (multi-cavity) mold.
Over the past decades, Synventive Molding Solutions and its predecessors
(Dynisco HotRunners, Eurotool, Kona) have served customers in the automotive,
electronics, telecommunications, packaging, medical, consumer/ industrial
and PET industries.
Madison has a proven track record in the plastic molding, plastic machinery
and plastic auxiliary equipment industries, enhancing its businesses’
long-term value through an intense focus on the customer and product
innovation.
In 2000, Madison bought three Dynisco units that make pressure transducers,
extrusion equipment and testing equipment. At the time, Berwind Group
(Philadelphia), which owned Dynisco, chose to hang onto the hot-runner
business, which was then called Dynisco HotRunners. A year later it
changed the name to Synventive. This company now employs 600 staff,
and claims to be the world's third-largest hot-runner systems supplier.
Madison's other holdings include thermoforming machinery builder Brown
Machine LLC (Beaverton, Mich.), remanufacturer Epco Machinery LLC (Fremont,
Ohio) and some US-based plastics processors.
