NYX FORT WAYNE, LLC HAS BEEN ACQUIRED BY NYLONCRAFT, INC., A TECHNIPLAS GROUP COMPANY
Birmingham, Michigan – June 14, 2013 – Angle Advisors is pleased to announce that Nyloncraft, Inc. (“Nyloncraft”), a Techniplas Group company, has acquired NYX Fort Wayne (“NYXFW” or the “Company”) from NYX, Inc. (“NYX”). Angle Advisors acted as the exclusive investment banking advisor to NYX in completing this transaction.
Based in Fort Wayne, Indiana, NYXFW is a leading North American manufacturer of pressurized plastic fluid reservoirs and related functional components for under-the-hood vehicular applications. The Company’s primary products include engineered, tight tolerance components such as brake reservoirs and surge tanks for automotive and heavy truck applications. As a full service Tier II supplier, the Company’s products are primarily molded from nylon composites and engineering-grade polypropylene. Featuring highly automated and vertically-integrated manufacturing operations, the Company serves its customers from a modern 50,000 square foot facility.
Jay Sandhu, Chief Executive Officer of NYX, commented, “Our management team at NYX Fort Wayne has executed very well and are excited to leverage Nyloncraft’s extensive process expertise to grow the business. Although we will miss our NYX Fort Wayne co-workers, the transaction will allow us to focus our resources and attention to the upcoming launches of our core offerings, as well as the expansion of our Tennessee molding operation and the startup of NYX, Mexico. We’d also like to thank the team at Angle Advisors who executed another very efficient sale process for us again with a strategic buyer. As with the divestiture of Bates, we are thrilled with the results of this transaction and were impressed with Angle’s ability to seamlessly execute these two transactions.”
George Votis, Chairman and Owner of the Techniplas Group, commented “Further enhancing the under-the-hood capabilities of the Techniplas Group of Companies, we are delighted to have the opportunity to add a proven technology leader in the field of vehicular brake reservoirs and surge tanks to our organization. The acquisition of NYX Fort Wayne exemplifies Techniplas Group’s and Nyloncraft’s focus on businesses with a leadership position in clearly-defined and defensible product niches. It was a pleasure to work with members of the NYX executive team as well as the professionals from Angle Advisors on the transaction. Angle’s deep knowledge of the plastics space and ability to navigate key business issues streamlined the final negotiations resulting in a timely close.”
Based in Livonia, Michigan, NYX designs, develops, and manufactures interior, automotive systems, and technology solutions for the automotive industry. For additional information, please visit www.nyxinc.com.
Nyloncraft, Inc. is a technical plastics company with facilities in Indiana and Michigan. Since being founded in 1956, the company has built a solid reputation within the automotive and heavy trucking industries for its ability to create new applications for existing and new technologies (i.e. new product innovations). The company does this while exceeding stringent automotive requirements to lower cost and reduce weight, and maintaining the highest level of quality and safety performance. For additional information, please visit www.nyloncraft.com.
Techniplas Group is a privately-held group of plastics-focused manufacturing businesses. Through expertise in custom thermoplastics and thermoset molding, engineering, and design, the Techniplas Group of Companies are well-positioned to fulfill the comprehensive requirements of its customers. In addition to Nyloncraft, other Techniplas companies include Dickten Masch Plastics, a custom thermoplastics and thermoset molder with technical expertise and advanced processing capabilities that produce unique advantages for customers in a range of industries, and Vallotech, a high-technology, precision manufacturer of thermoplastic, thermoset and metal insert parts for the automotive, electrical and mechanical markets based in Switzerland.
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions with a particular emphasis on the vehicular and industrial sectors. The firm's 33 professionals have completed 85 M&A transactions since the beginning of 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.