Heavy gauge thermoform tooling manufacturer Tooling Technology LLC (Fort Loramie, OH) announced the acquisition of FPM Tooling and Automation in Fremont, Ohio. FPM, formerly known as Fremont Plastic Mold, specializes in the design and manufacture of custom industrial blow mold tooling, and in development and manufacture of automation equipment for both blowmolding and thermoforming. FPM's automation division also provides flexible work cells that incorporate robotic press loading, fastening, visual inspection, assembly, de-flashing, welding and packaging of finished parts. (We visited with FPM in 2007; here a link to our report on the company.)
"This acquisition presents an opportunity for The Tooling Tech Group to expand our already strong position in the automotive, transportation and consumer products tooling markets through additional product offerings," said Tony Seger, CEO. "FPM is an excellent fit with our 'Whatever it takes, on-time, every time' operating model." Terms of the purchase were not revealed. The Tooling Tech Group, including FPM, employs approximately 120. The Tooling Tech Group is owned and operated by Cognitive Capital Partners, a Chicago, IL-based private equity investment company. Cognitive also owns Edward D. Segen & Co., a supplier of equipment such as quick-change fasteners for thermoforming as well as a thermoforming tool builder and maintenance provider....