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Private equity firm buys Summit tooling, molding businesses
Ryan Martin, CEO of Fathom.
Chicago-based private equity firm Core Industrial Partners has acquired Summit Tooling Inc. and Summit Plastics Inc. of McHenry, Ill., for its portfolio company Fathom.
Fathom provides on-demand manufacturing in 14 processes and six additive manufacturing technologies across its national footprint, which includes about 100 industrial-grade 3D printing machines for mostly plastics but also metal.
The Summit acquisition increases Fathom s in-house tooling capabilities and expands its injection molding capacity, which will help the acquirer answer calls for on-shore injection molding, according to Fathom CEO Ryan Martin. We saw really tremendous growth in 2020 across our additive business, CNC machining, injection molding, tooling and urethane casting machining, Martin said. Many times we had to leverage our supply chain partners for tooling to injection mold parts as our internal capacity a
PE-backed Fathom acquires Summit Plastics pehub.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pehub.com Daily Mail and Mail on Sunday newspapers.
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CORE Industrial Partners Portfolio Company Fathom Acquires Summit Tooling and Summit Plastics
February 3, 2021 GMT
CHICAGO (BUSINESS WIRE) Feb 3, 2021
CORE Industrial Partners (“CORE”), a Chicago-based private equity firm, announced today the acquisition of Summit Tooling, Inc. and Summit Plastics, Inc. (collectively, “Summit” or the “Company”), a leading precision tooling and injection molding services provider, by CORE portfolio company Fathom. Summit is the fourth add-on acquisition to the Fathom platform following CORE’s initial investment in 2018.
Founded in 1996, Summit provides high-quality plastic injection mold design, precision mold-making and close-tolerance injection molding with a specialty in small-to-medium prototype injection molds. Utilizing a fleet of more than 30 machines, Summit primarily serves long-tenured customers in the medical and packaging end m
LongueVue Capital Completes Investment In Summit Plastics And Adds Experienced Specialty Packaging Operating Partner
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NEW ORLEANS, Jan. 20, 2021 /PRNewswire/ LongueVue Capital ( LVC ) is pleased to announce it has partnered with CEO Tom Nathanson and the management team of Summit Plastics ( Summit or the Company ) to recapitalize the business and provide growth capital. Headquartered in Summit, MS, Summit is a business-to-business focused niche manufacturer of custom low-density and linear low-density polyethylene ( LLDPE ) blown film and bags for a number of commercial end markets, including food and beverage, industrial, and healthcare.
Summit has experienced rapid growth since Tom Nathanson acquired the business in 2015. The Company currently employs more than 100 full-time employees and operates out of a recently-upgraded 90,000 square foot manufacturing facility, from which it can produce a wide range of value-added