Small products, big potential
Tonka Bay partners with a micro injection molded parts manufacturer to accelerate its growth trajectory while delivering for both its founding shareholders and its senior management.
As the world continued to get smaller, one company's potential was clearly headed the other direction.
AccuMold was founded in 1985 to meet growing demand for high-precision, micro-molded plastic parts used in rapidly miniaturizing high-tech devices. The company thrives on complexity and fast turnaround times, serving high-tech industries that include microelectronics, telecommunications, healthcare and aerospace and defense.
In 2006, AccuMold's founding shareholders determined it was time to realize a return on their investment. At the same time, the AccuMold senior management team, who held a minority ownership position in the company, was interested in seeing the company's momentum continue through an additional financial partner.
According to Roger Hargens, AccuMold CEO and board member, Tonka Bay was the right partner to satisfy the needs of both parties.
"Tonka Bay provided an ideal solution for the goals of both our management team and our ownership group," Hargens said. "Our founders have been duly rewarded, and we now have the additional resources and support on hand to continue our growth trajectory."
Tonka Bay partnered with senior management to buy out the non-active owners, providing liquidity for the value that was created over the previous two decades. With their increased ownership stake, senior managers are well positioned to reap the rewards of their ongoing efforts.
AccuMold also benefited from a new financial partner capable of providing capital for growth, along with new levels of insight for taking full advantage of AccuMold's unique capabilities.
"The AccuMold management team clearly knows how to achieve exceptional growth and market share," said Cary Musech, Managing Principal of Tonka Bay and an AccuMold board member. "This company may manufacture the smallest of parts, but we expect nothing but big things from it."