PMCF Advises Texas Injection Molding on its Investment From Blackford Capital Management
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PMCF Investment Banking (“PMCF”) is pleased to announce that it served as the exclusive financial advisor to Texas Injection Molding (“TXIM” or the “Company”) on its investment from Blackford Capital Management (“Blackford Capital” or “Blackford”).
Texas Injection Molding is a leading manufacturer of precision-engineered injection molded industrial components headquartered in Houston. The investment will provide capital for the continued expansion of the Company, as well as access to Blackford’s experience in identifying and integrating acquisitions.
Jeff Applegate, founder and CEO of Texas Injection Molding, will retain a substantial equity stake and focus primarily on supporting the team with strategy and growth of the Company. Manufacturing and industry executive Scott Osterling will join the team and assume responsibilities of CEO. Scott Kelley will remain as President, and Texas Injection Molding’s existing management team will continue manage the Company in their current roles.
Commenting on the transaction, Jeff said, “Our vision over the last 12 years has been to be the best supplier to our customers, best employer to our team, best customer to our vendors, and to give thanks to the Lord for His provision. We’ve been fortunate to find a partner in Blackford Capital that shares our vision, and will help us continue to build a lasting, great company that allows our employees, customers, and shareholders to prosper.”
Martin Stein, Blackford CEO, noted, “We have been impressed with Texas Injection Molding’s engineering capabilities, tooling and resources and are excited to partner with the team as they take advantage of the many opportunities available in Texas today. We will look to support the business’ growth across Texas and in other high-growth regions across the country by leveraging our industry and regional experience with Lubbock, Texas-based Industrial Molding Corporation.”
Scott Osterling, who joins the team as CEO, made the following remark. “We believe the injection molding sector remains very attractive, helped by the tailwinds of customers reshoring manufacturing to the United States, and I’m excited to build upon the strong brand and positive culture Jeff has established. I look forward to working with him and the entire Texas Injection Molding team as we look for innovative ways to better serve our customers and continue to grow the business.”
PMCF served as the Company’s exclusive financial advisor in the transaction. Jeff commented, “John Hart and his team’s multiyear support of TXIM was critical to achieving this successful transaction outcome. PMCF’s expertise in the injection molding and broader plastics space was evident throughout our relationship and led to an effective process for our shareholders. We strongly encourage other plastics companies considering a transaction in the short or long-term to work with PMCF.”
Speaking on the transaction, Managing Director of PMCF’s Plastics & Packaging Group, John Hart, said, “It was a pleasure to work with Jeff and his team throughout this process. They have developed a highly successful injection molding business with a profound impact on its vendors, customers, and employees. PMCF remains excited about TXIM’s continued growth under the leadership of Blackford Capital.”
About PMCF Investment Banking
PMCF is a client-centric middle market investment bank providing merger and acquisition advisory services to privately held shareholders as well as public, and private equity owned companies worldwide. The firm combines expansive industry and transactional expertise with highly engaged, senior-level bankers to create tailored solutions for clients. PMCF has been serving the plastics and packaging industries for over 20 years and has a long track record of successful transactions involving specialty, niche players in these industries. For more information about PMCF, please visit www.pmcf.com
About Texas Injection Molding
Founded in 2013, Texas Injection Molding has rapidly grown to be one of the largest custom injection molding manufacturers in Texas. With 200 employees, the Company operates 35 injection molding machines with a facility of approximately 90,000 square feet. Texas Injection Molding was recognized as a 2024 Plastics News Best Places to Work, received the Manufacturers Association of Plastics Professionals 2024 Innovation Award, and was named to the Houston Business Journal’s Houston’s Fast 50 list in 2023. More information can be found at www.texasinjectionmolding.com.
About Blackford Capital
Founded in 2010, Blackford Capital is a private equity investment firm headquartered in Grand Rapids, Michigan. Blackford acquires, manages, and builds founder and family-owned, lower middle-market companies in manufacturing, distribution, and services. The firm has a track record of exceptional returns, a disciplined and relentless approach to value creation, a focus on operational excellence, and a compelling culture. The investment into Texas Injection Molding is Blackford’s third platform investment in the plastics space, 19th platform investment, and 51st acquisition since its founding in 2010. Blackford’s honors include being named to the Inc. Founder-Friendly Investors and Inc. 5000 lists in 2024, as well as securing the 2024 USA Deal of the Year at the Americas M&A Atlas Awards and the 2024 Deal of the Year at M&A Advisor’s International M&A Awards. The firm’s professionals have been named to Crain’s Detroit Notable Dealmakers, Crain’s Detroit Notable Leaders in Finance, Crain’s Grand Rapids Business Dealmaker of the Year, and the Grand Rapids 200 lists over the last year. For more information, visit www.blackfordcapital.com.
