Cavalier Tool Acquires Mold Services International
Bucking the 2020 trend, Cavalier continues its momentum with increased capacity in gundrilling, EDM, plate milling, large roughing, large five-axis and toolmaking—all the things the company used to outsource.
Mold Services International (MSI, Ontario, Canada) a manufacturer of production injection and compression molds, has been purchased by Cavalier Tool and Manufacturing Ltd. (Ontario, Canada), a respected global manufacturer of mid-to-large size molds.
“We’re a machine shop that can build everything under one roof—but as we continue to grow, we’re exceeding that capacity,” says company President, Brian Bendig. “With MSI’s innovative technology and 22,000-square-foot Oldcastle facility complementing our own, we can now offer increased capacity in gundrilling, EDM, plate milling, large roughing, large five-axis and toolmaking—all the things we usually outsource. This also allows us to fulfill volume opportunities that we couldn’t offer earlier due to limited capacity.”
Impressed by MSI’s bottom line, Bendig is clear the company will continue to operate as a standalone business.
“Our intention is not to go in and pull the place apart,” says Bendig. “We want the business to run as it is. It’s profitable: It stands on its own two legs. It runs the way it runs now. We want to learn that and understand that.”
MSI GM/Owner Damphouse says the long-term partnership already in place with Cavalier made this sale much easier to work through. “Our number one focus during these discussions has been that we take care of our employees and customers. It was crucial that we partner with someone who can appreciate and carry on our legacy of over two decades in business,” says Damphouse. “Cavalier provides that comfort and we are excited to see how much can be achieved in joining forces.”
At a time when many in industry are struggling, Cavalier is building on the momentum from 2020 (see MMT Chats: The Cavalier Tool Army Takes on COVID-19). Stephen MacKenzie, president and CEO, Windsor-Essex Economic Development Corp., says this news speaks volumes about Cavalier’s dedication to continuous improvement.
“It is about two great companies coming under one corporate umbrella,” says MacKenzie. “Cavalier’s accomplishments in the midst of a pandemic and a general industry slowdown have been impressive. It is an innovative and successful company as well as a great corporate citizen. We are fortunate to have them as part of our advanced manufacturing ecosystem here in Windsor-Essex.”
However, it is a momentum that is not necessarily experienced by other moldmakers. In a mid-2020 survey conducted by Michigan-based consulting firm Harbour Results Inc., HRI president Laurie Harbour discovered that 35% of tool shops and 47% of production shops are either struggling or concerned about the future, with moldmakers overall forecasting a 25% drop in revenues from their original 2020 forecasts.
According to Bendig, Cavalier is bucking the trend because he doesn’t buy into doomsday predictions and prefers to focus on diversity and mindset.
Tim Galbraith, Cavalier sales manager and long-time board member of Canadian Association of MoldMakers, adds that Cavalier also has a “secret sauce is people, process and equipment. “We reinvest back into the business,” he says.
Honoring female makers, innovators and leaders who are influencing our industry's future.
Solutions for managing the plastics supply chain improving OEMs' total cost of manufacturing.
A mold-building perspective on Mexico’s manufacturing opportunities, trends and challenges.