August 2020 – Inman, SC – Orchard Creek Capital has recently acquired custom injection molder, Tool Technology Corporation of Inman, SC. Tool Technology operates out of a 20,000 square foot facility, running 24/7, 5 days a week. The company’s core competencies include injection molding and metal machining for outdoor recreation and the consumer products end markets. It houses 24 injection molding machines ranging in size from 40 – 1450 tons. The company has 32 full-time employees and hires temporary help during busy seasons.
Jon Carlson, President of Orchard Creek Capital said, “Tool Technology is an excellent fit for Orchard Creek. We are focused on assembling a network of plastics processors in the United States and thus, we were excited to find an organization like Tool Technology in the Southeast. We are also excited to announce that Don Reid, the founder of Tool Technology, has retained a meaningful amount of equity in the business and he will stay on with us as the President of the operation.”
Orchard Creek is a unique private equity firm. The firm pursues investments in smaller businesses rather than traditional “fund-based” private equity firms and has a longer investment horizon than conventional equity firms. The focus is on companies with revenue ranging from $4-20 million. It seeks to acquire well-established plastics companies with a defensible market position and a proven track record. Orchard Creek’s plastics portfolio now includes three companies – including the recently acquired Advantage Plastics based in Winter Haven, Florida.
MBS Advisors of Florence, MA advised Tool Technology in the transaction.
The above was taken directly from Orchard Creek’s official press release.
Click here for an article Plastics News wrote on Orchard Creek and this transaction.