Evanston, Ill., October 2, 2018 – Industrial Opportunity Partners (“IOP”), an operations-focused private equity firm based in Evanston, Ill., today announced that it has completed the sale of portfolio company Toledo Molding & Die, Inc. (“TMD” or the “Company”) to Grammer AG (“Grammer”), a global leader in the development and production of components and systems for automotive interiors as well as suspension driver and passenger seats for onroad and offroad vehicles. The divestiture represents IOP’s ninth investment realization from its $185 million inaugural fund. Terms of the transaction were not disclosed. IOP acquired TMD in November 2011.
TMD is a full service automotive supplier that designs, develops and manufactures highly engineered molded thermoplastic components and assemblies such as interior components and air and fluid management products.
IOP Operating Principal Jim Todd served as TMD’s Chairman of the Board, providing strategic oversight of the Company during IOP’s investment period. Mr. Todd said, “I believe the Company’s leadership team and its employee base have worked tirelessly to establish TMD as a premier supplier to automotive OEM’s and other Tier 1 suppliers, and that the Company is well-positioned for its future under Grammer ownership. I wish TMD and Grammer much success in the future.”
Kyle Hood, Director of IOP, added, “We would like to thank the outstanding management team at TMD led by President and CEO Steve Ciucci. TMD has been a very successful investment for IOP, and we expect it to thrive under Grammer’s ownership.”
Steve Ciucci, President and CEO of TMD, noted, “We have had an outstanding partnership with IOP, and it is a natural next step for TMD to find a strategic partner with a global footprint.”
About TMD
TMD is a full service automotive supplier that designs, develops and manufactures highly engineered molded thermoplastic components and assemblies such as interior components and air and fluid management products. The Company also designs and builds the dies and related tools for its injection and blow molded components. TMD, headquartered in Toledo, Ohio, operates out of ten facilities in the United States and one in Mexico. For more information, visit TMD’s website at www.tmdinc.com.
About Industrial Opportunity Partners
IOP, an Evanston, Ill.-based private equity firm with $910 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with sales between $30 million and $400 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses.