NewHold Enterprises Announces Sale of F&S Tool to Berry Global
NEW YORK, April 17, 2024 /PRNewswire/ -- NewHold Enterprises, an operationally focused investment firm, is pleased to announce the sale of F&S Tool, a leading North American designer and manufacturer of precision injection molding tools, to Berry Global Group, Inc. (NYSE: BERY). F&S Tool operates a 90,000 square foot facility located in Erie, Pennsylvania, with 11 issued/pending patents and 105 employees focused on proprietary technologies to serve a large and diverse addressable market. The sale was completed on April 05, 2024.
"F&S Tool is a leader in precision injection molding tools, with best-in-class manufacturing and sampling and unique technology. We believe the company's unique innovations and intellectual property is a fantastic addition to Berry's global tooling capability," said Kevin Charlton, Co-Chairman at NewHold and Vice Chairman of F&S Tool. "It has been a pleasure to partner with JD and Mike Faulkner, our CEO Bryan Mikula, and the entire team at F&S Tool for the past few years and be a part of their history. We wish them continued success under Berry's leadership."
F&S Tool was founded in 1983, and NewHold invested in 2020. The company has grown to be a market leader with proprietary technology in high-end growth markets, achieving industry leading cycle-time improvements through proprietary cooling techniques and best-in-class manufacturing/sampling.
About NewHold Enterprises
NewHold is an operationally focused investment firm that partners with management teams of lower middle market industrial and business services firms with the goal of transforming them into middle market sector leaders. NewHold retains the flexibility to retain ownership in the companies as they grow, thereby encouraging a long-term focus on company culture and sustainable growth. Learn more at www.newhold.com.
About F&S Tool
F&S Tool was founded in 1983 and operates a 90,000 square foot facility located on the shores of Lake Erie in Erie, Pennsylvania, USA. F&S Tool specializes in high output, high efficiency hot runner injection molding applications typically with 2-6 million cycles expected per year. In addition to injection molding, F&S Tool is an expert in high volume compression molding applications with similar throughputs. Learn more at www.fstoolinc.com.
NewHold Enterprises
Amanda Tarplin
Tarplin Consulting
908-872-4804
amanda@tarplinconsulting.com
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SOURCE NewHold Enterprises, LLC
