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Industrial Opportunity Partners' Platform Toledo Molding & Die Acquires WEK Industries

Acquisition Expands TMD's Customer Base

Evanston, Ill., June 24, 2014 – Industrial Opportunity Partners ("IOP"), an operations-focused private equity firm based in Evanston, Ill., today announced the strategic acquisition of WEK Industries ("WEK") by its portfolio company Toledo Molding & Die ("TMD") from Myers Industries. TMD, headquartered in Toledo, Ohio, is a full-service automotive supplier that designs, develops and manufactures highly engineered thermoplastic components and assemblies including interior cockpit modules and air and fluid management products. TMD also designs and builds molds and related tools for its injection and blow molded components. TMD has approximately 1,500 employees and operates out of eight facilities in Ohio.

Headquartered in Jefferson, Ohio, WEK is a provider of engineered blow molded components and assemblies to the automotive industry, as well as a lineup of custom and proprietary products. WEK operates out of two facilities located in Jefferson, Ohio and Reidsville, N.C.

Adam Gottlieb, Senior Managing Director of IOP, stated, "We are excited to support our platform investment in TMD with the strategic acquisition of WEK. We believe TMD is positioned for growth both internally and through strategic acquisitions such as WEK. WEK represents TMD's first acquisition since IOP invested in TMD in 2011."

Jim Todd, Chairman of TMD and an Operating Principal of IOP, added, "The acquisition of WEK expands TMD's customer base which should benefit the combined company through its broadened customer relationships and product offerings. I believe the TMD platform is well positioned and has significant momentum as the automotive market continues to perform well."

 

About Toledo Molding & Die, Inc.

TMD is a full-service automotive supplier that designs, develops and manufactures highly engineered thermoplastic components and assemblies including interior cockpit modules and air and fluid management products. TMD also designs and builds molds and related tools for its injection and blow molded components. TMD has approximately 1,500 employees and operates out of eight facilities in Ohio. For more information, visit TMD's website at www.tmdinc.com.

About Industrial Opportunity Partners

IOP, an Evanston, Ill.-based private equity firm with $460 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 $350 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.

 

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