Injection molder MGS acquires European tooling supplier Formteknik
Formteknik’s operations in Denmark, Sweden, and Germany will allow Wisconsin-based MGS to deliver integrated manufacturing solutions in Europe with a single point of contact, mirroring its North American model.
Germantown, Wis.-based custom injection molder and toolmaker MGS Mfg. Group Inc. has acquired Formteknik, a European-based tooling manufacturer founded in 1979, with operations in Roskilde, Denmark; Anderstorp, Sweden; and Dortmund, Germany.
The financial terms of the deal haven not been disclosed.
“We are excited to welcome Formteknik to MGS,” MGS president and CEO Paul Manley said in a Jan. 7 news release. “Culturally, we have tremendous alignment – everything our organizations do revolves around delivering superior solutions for our customers. With Formteknik, MGS can now deliver integrated manufacturing solutions in Europe with a single point of contact, which mirrors our model in North America.”
The acquisition gives MGS 1,500 employees and 11 facilities globally. The company recently announced the two-phased expansion of its Wisconsin-based global headquarters to consolidate its warehousing and distribution operations, as well as expand its manufacturing footprint. Phase one of the expansion is expected to be completed in the fall of 2021.