Tonka Bay Invests in Seaway Plastics Engineering
March 9th, 2015
MINNETONKA, Minnesota (March 9, 2015) —Tonka Bay Equity Partners LLC (“Tonka Bay”) has announced an investment in Seaway Plastics Engineering (Seaway), an industry leader in plastic injection molding specializing in prototype and low volume production. Tonka Bay has partnered with Seaway’s owners Tim Smock, CEO, and Paul Bernard, President, to accelerate the growth of the company.
Based in Port Richey and Brooksville, Florida, Seaway provides engineered solutions to customers in a variety of industries that value high quality and speed to delivery. The company’s internal capabilities include the design and building of prototype and production molds, low to medium volume injection molding, cleanroom facilities and surface finishing through its Florida Finishing division.
In a joint statement, Tim Smock and Paul Bernard stated: “We were seeking a partner that could help us serve our expanding list of top-tier customers, and provide growth opportunities for our employees. Tonka Bay’s culture and industry experience make them an ideal match for our company.”
“We are pleased to have the opportunity to invest in Seaway and to work with Tim and Paul,” commented Cary Musech, Managing Principal of Tonka Bay Equity Partners. “Our firm’s prior investments in injection molding and prototype to production business models make Tonka Bay a value-added partner for the company.”
About Seaway Plastics Engineering
Headquartered in Port Richey, Florida, Seaway Plastics Engineering is a plastic injection molding company specializing in prototype injection molding, low to medium volume production, mold making, and surface finishing through its Florida Finishing division. With a dedicated workforce of over 160 employees in Port Richey and Brooksville, Florida, Seaway meets the needs of leading OEMs in several industries including medical, aerospace, military, packaging, food service, industrial, electronics, and consumer products. For more information about Seaway, please visit www.seawayplastics.com.
About Tonka Bay Equity Partners
Based in Minnetonka, MN, Tonka Bay Equity Partners is a private equity firm that acquires and invests in lower middle market businesses in the highly-engineered manufacturing, business services and value-added distribution sectors. For more information, call (952) 345-2035 or visit www.tonkabayequity.com.