Big Shoulders Capital said its investment in the plastic injection molding company will save 50 manufacturing jobs in Ohio and target expansion
NORTHBROOK, Ill.—Big Shoulders Capital reported that it purchased the assets of Design Molded Plastics, a 40-year-old custom plastic injection molding business in Macedonia, Ohio. Big Shoulders previously invested in another Ohio injection molder and mold builder, DRS Industrial, LLC, in 2020. Both molding companies will continue to operate independently, the company said in a release.
Big Shoulders said it plans to use its expertise and experience to grow Design Molded Products and “take full advantage of the talented team and extensive capabilities of the company.” Its growth strategy involves operational improvements, management restructuring, and overhead alignment, coupled with a focus on external sales, improved existing customer relationship management, and bolt-on acquisitions of other injection molding companies, the company said.
Despite the financial and operational challenges facing Design Molded Plastics, the management team at Big Shoulders Capital saw an opportunity to help save the business, support its more than 50 employees, and give it the best chance to thrive again.
“We have a strong track record of identifying exactly this type of company, investing appropriately, and creating long-term value,” said Brian Schroeder, vice president of equity investments, in a statement.
Design Molded Products serves customers in the appliance, consumer goods, industrial, and automotive industries. The company operates 35 plastic injection molding presses with clamp forces ranging from 88 tons up to 950 tons. Its capabilities include two-shot molding, vertical molding, in-mold labeling, and sub-assembly in 150,000 square feet of production and distribution space.
The company recently moved to a 24/7 production schedule to increase capacity, decrease scrap, increase machine efficiency, and reduce overtime. With its new ownership and team, the company has the capacity to support new and former customers who may have left under the previous ownership, according to the release.