DMS North America buys Ontario tooling supplier Component Guys
The acquisition will expand DMS's inventory capacity, product offering, and service/support levels.
In a deal involving two mold, tool and die suppliers in Oldcastle, Ontario – which is just south of Windsor – DMS North America has acquired Component Guys Inc., a global provider of custom and standard mold components and tooling supplies.
The financial terms of the deal have not been disclosed.
In a March 4 news release, DMS noted that the acquisition will reunite former and present DMS members. “The move will provide DMS North America customers with increased inventory capacity, innovative product offering, and service/support levels.”
Both companies will continue to operate independently during a brief transition period, the news release said.
Component Guys is headed by Frank Iatonna, president; Jason Mayville, general manager; and Brian Camlis, sales manager. Iatonna was a general manger at DMS from 1979 to 2006, and then served as company president from 2006 to 2012.
“Most industry forecasts predict that the mold and die sector is moving into a strong growth position,” DMS officials said in the news release. “This acquisition will allow DMS North America to be in a stronger position to better supply this industry growth.”
DMS was established for over 40 years ago, and also has two locations in the U.S. – one in California and the other in Illinois.