Blackford Capital Strengthens Presence with Investment in Texas Injection Molding

Blackford Capital Expands Its Investment Footprint in the Texas Injection Molding Sector

Blackford Capital, a notable private equity firm specializing in lower middle market investments, has recently announced its strategic investment in Texas Injection Molding, a well-established manufacturer based in Houston, Texas. This investment marks a significant step for Blackford as it aims to boost Texas Injection Molding's growth trajectory and leverage its innovative capabilities within the industry.

Strategic Partnership for Growth

Blackford Capital's CEO, Martin Stein, expressed his enthusiasm for this investment, noting their admiration for Texas Injection Molding's engineering prowess and robust tooling capabilities. With ambitions to enhance operations across Texas and other burgeoning markets in the U.S., Blackford is poised to share its extensive experience from previous investments, particularly drawing from its successful partnership with Industrial Molding Corporation in Lubbock.

Jeff Applegate, the founder and CEO of Texas Injection Molding, emphasized the company's commitment to being a top-notch supplier, employer, and partner. He shared his optimism about collaborating with Blackford Capital to foster sustainable growth while ensuring all stakeholders - employees, customers, and shareholders - benefit from this partnership.

Leadership Enhancements

To further strengthen its operational framework, Texas Injection Molding welcomes Scott Osterling as the new CEO. With over two decades of leadership and a stellar track record in enhancing strategic initiatives and profitability, Osterling is expected to drive the company towards even greater achievements. His vast experience extends across various sectors, including significant roles at notable companies like Cameron and Schlumberger. An Army veteran, Osterling also brings a unique perspective to leadership, having commanded Special Forces units.

Osterling expressed his belief in the injection molding sector's bright prospects, particularly as more manufacturers look to reshore operations to the United States. He intended to build upon the positive corporate culture established by Applegate, ensuring customer service excellence and sustained business growth.

The Market Landscape

The injection molding industry is currently experiencing a revitalization, encouraged by trends favoring reshoring manufacturing practices. Blackford Capital's experience in this domain, especially highlighted by their successful exit strategies, places them in a favorable position to thrive in a competitive marketplace. Historically, Blackford's investments, such as the transformation of Custom Profile, a plastic extruder, led to remarkable growth surpassing 120% and a consistent revenue increase during their intervention period.

Texas Injection Molding's Recognition

Founded in 2013, Texas Injection Molding has rapidly ascended to prominence as one of Texas's largest custom injection molding manufacturers, employing around 200 individuals and operating from an extensive facility of approximately 90,000 square feet. Their commitment to quality and innovation has garnered them accolades, including recognition as one of the Best Places to Work by Plastics News, and the 2024 Innovation Award from the Manufacturers Association of Plastics Professionals. Their inclusion in the Houston Business Journal's Fast 50 list in 2023 further emphasizes their impressive growth and enterprise reliability.

Conclusion

This latest investment signifies Blackford Capital's ongoing commitment to enhancing American manufacturing through strategic partnerships that enable operational excellence and innovation. As Texas Injection Molding embarks on this new chapter, the collaborative endeavors are expected to yield fruitful results, fostering a thriving environment for all stakeholders involved. With a focus on long-term growth, Blackford Capital and Texas Injection Molding are set to make notable contributions within the industrial manufacturing landscape.