Injection molder Cascadia Custom Molding bought by Blue Point Capital Partners
The acquisition will broaden the manufacturing capabilities and expand the geographic footprint of Blue Point IV portfolio company VRC Engineered Solutions.
In a move designed to expand its business in the Pacific Northwest, private equity firm Blue Point Capital Partners and its IV portfolio company VRC Engineered Solutions have purchased Cascadia Custom Molding, an injection molder that operates out of manufacturing facilities in Coeur d’Alene, Idaho, and Woodinville, Wash.
The financial terms of the deal have not been disclosed.
In a March 30 news release, officials with Blue Point and VRC said that they “value Cascadia’s diverse customer base and focus on complex, low-volume parts, as well as in-house capabilities that further expand VRC’s tooling, materials, production and service capabilities.”
“This acquisition strategically marks the next phase of growth for both VRC and Cascadia,” said Blue Point partner Jonathan Pressnell. “Uniting the respective company visions and leveraging their combined capabilities, services, technologies and expertise across all locations will offer significant benefit to our customers. The geographic and end market expansion, along with the potential for cross-selling opportunities, makes the combined company well-positioned for growth.”
Cascadia is VRC’s first add-on acquisition since Blue Point acquired the platform in August 2019.
Cascadia was formed in May 2016 when two firms – Accurate Molded Plastics and Mold-Rite Inc. – merged after Accurate acquired Mold-Rite.