Synventive bought by equity firm
Canadian PlasticsCanadian Plastics
One of the world's largest designers, manufacturers and suppliers of hot runners and other components to the inject...
One of the world’s largest designers, manufacturers and suppliers of hot runners and other components to the injection molding industry, Synventive Molding Solutions, has been purchased by a private equity investment firm.
Boston, Mass.-based Advent International said it would provide Synventive financial and strategic resources to help the firm achieve its five-year growth plan. Synventive’s goals are to improve its product line, both through innovation within the company, and through possible acquisitions, and to focus more energy on the customer.
Synventive is headquartered in Peabody, Mass. in North America.
The firm also plans to continue expanding globally into new markets, as it did recently by opening a facility in China.
"Synventive will continue with its current strategy, which is to become the supplier of first choice to the plastic injection molding industry. We will earn that position by continuing to lead with new product innovation, continue to shorten product delivery cycle time, improve our product quality and continue to increase the value of our systems in the plastic injection molding business. Just as important, we will also continue to enhance our sales, application engineering and post sales service support," said Dale Barnhart, president and CEO of Synventive.