GenNx360 Capital Partners, a New York-based private equity firm that invests in middle-market business services and industrial companies, has announced two new add-on acquisitions for its portfolio company, Tooling Technology Group (TTG). TTG, one of the largest manufacturer of tooling solutions serving the automotive and industrial end markets in North America, acquired CTG Holdings, which operates Century Tool & Die and Bel-Kur on March 29. Century provides medium and large compression molds for automotive, heavy truck and industrial applications. Bel-Kur provides secondary tooling, fixtures and automation equipment for a wide range of operations.
“TTG continues to demonstrate strong growth since our acquisition in 2014,” said Matt Guenther, the GenNx360 managing partner, who led the transaction. “Following the acquisition of Majestic Industries and G.H. Tool in 2015, the addition of Century and Bel-Kur represents another successful step in executing TTG’s strategy to expand its market reach and overall growth potential and further position it as one of the largest privately held fully integrated tooling solutions provider in the United States.”
“Both Century and Bel-Kur are highly strategic add-on acquisitions that will add Class A exterior tooling capabilities, address secondary tooling and automation growth opportunities, expand machining capabilities and capacity, broaden our customer base, and introduce new selling opportunities,” said Tony Seger, CEO of TTG.
“The CTG businesses are highly complementary to TTG’s existing operations, and we are very happy to join the TTG team,” said Robert Rich, president of CTG.
CTG was majority-owned by First Capital Partners, a private investment firm based in Omaha, Nebraska. Financial terms of the transaction were not disclosed.
