MGS Acquires European-Based Formteknik
The supplier of molding, molds and automation cells enhances its tooling, integrated services offerings and adds three moldmaking facilities in Europe with the acquisition.
MGS, (Germantown, Wisconsin) a provider of vertically integrated manufacturing solutions for complex, high-precision plastic components, announced on Jan. 7 the acquisition of Formteknik (Roskilde, Denmark), a European company in innovative tooling solutions with operations in Denmark, Sweden and Germany.
This acquisition will reportedly strengthen MGS’ ability to serve as a single supply source for integrated tooling, molding and automation capabilities to global customers in healthcare, automotive, packaging and consumer industries.
“We are excited to welcome Formteknik to MGS. Culturally, we have tremendous alignment—everything our organizations do revolves around delivering superior solutions for our customers,” says Paul Manley, president/CEO of MGS. “With Formteknik, MGS can now deliver integrated manufacturing solutions in Europe with a single point of contact, which mirrors our model in North America.”
Formteknik’s management team of Henrik Jørgensen (Denmark), Jan Aronsson (Sweden), and Dirk Paulmann (Germany) state that its company’s services—from tool development to turnkey injection molding solutions and system validation—perfectly align with MGS’ current global capabilities.
The acquisition expands the MGS team to 1,500 employees, with 11 facilities globally. The company also recently announced the two-phased expansion of its Wisconsin-based global headquarters to consolidate its warehousing and distribution operations, as well as expand its manufacturing footprint. Phase one of the expansion is expected to be completed in the fall of 2021. Outside of Wisconsin, MGS has facilities in Mexico (Chihuahua and Juarez) and Ireland.