Engineering & Capital Goods News

SYBRIDGE TECHNOLOGIES ACQUIRES CALFRAMAX TECHNOLOGIES


Calframax is Sybridge’s First Acquisition Focused on the Consumer End-Market

Transaction Marks SyBridge’s Twelfth Acquisition in Three Years

SyBridge Continues to Develop into an Industrial Technology Solutions Partner for Customers in High-Growth Industries

SOUTHFIELD, Mich., Aug. 3, 2022 /PRNewswire/ — SyBridge Technologies (“SyBridge”), a global industrial technology company, announced today that it has acquired Calframax Technologies, Inc. (“Calframax”), a leader in the precision tooling market and headquartered in Oldcastle, Ontario Canada. Calframax expands SyBridge’s presence in the consumer end-market. This transaction marks SyBridge’s twelfth acquisition since inception in 2019.

Calframax, founded in 1995, is a leader in the construction of precision molds, with market leadership in the manufacturing of rigid plastic molds serving both the consumer goods and industrial pails market. Calframax also supports its customers throughout the production process from design and engineering to aftermarket parts, spares and repairs. Calframax is Sybridge’s first acquisition that is focused on the consumer end-market. 

SyBridge Technologies was established in 2019 by Crestview Partners, a New York based private equity firm, who committed $200 million of equity to create a market leading value-added manufacturing solutions provider spanning end-markets, geographies, and advanced technological capabilities.

Tony Nardone, CEO of SyBridge, said of the transaction, “Calframax is an exciting expansion into rigid plastic mold making and continues our vision of building a leadership position in consumer goods markets. The combination of Calframax’s and SyBridge’s capabilities will enable us to better serve Calframax customers throughout North America. With this transaction, SyBridge will be able to leverage its full network of capabilities to seamlessly serve consumer goods customers in North America.”

Bill McDonough, President of SyBridge’s Consumer & Life Sciences Business Units, added, “Calframax owners Joe Gasparovic and Ray Little have done a great job in building a top tier consumer tooling company. The entire Calframax team will strengthen the Sybridge franchise. We are excited to welcome new team members and work together to support our customers’ continued growth investments.”

Calframax’s owners, Joe Gasparovic & Ray Little, commented “We are very pleased to be part of SyBridge Technologies. Joining forces with their platform is a natural next step in the evolution of our company. We look forward to the opportunities this transaction creates for our customers and employees.”

About SyBridge Technologies
SyBridge Technologies was established in 2019 by Crestview Partners to create a global technology leader that provides value-added design and production solutions across multiple industries. SyBridge is based in Southfield, Michigan. For more information, please visit www.sybridgetech.com.

About Calframax Technologies
Founded in 1995, Calframax provides design & engineering, precision manufacturing and aftermarket services for customers in consumer and industrial packaging. Calframax is located in Oldcastle, Ontario. For more information, please visit www.calframax.com.

About Crestview Partners
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $10 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: industrials, media, and financial services. For more information, please visit us at www.crestview.com.

For more information, please contact:
Jeffrey Taufield or Daniel Yunger
Kekst CNC
(212) 521-4800
[email protected] / [email protected]

SOURCE SyBridge Technologies; Crestview Partners



Source link

Leave a Comment