Tolerance Tool is Acquired by Beanstalk Collaborative Community Wealth
Tolerance Tool, a precision manufacturing firm operating in North St. Paul, Minnesota, will continue to lead and grow its people, process and capital investment.
Tolerance Tool headquarters.
As of Dec 9, Beanstalk Collaborative Community Wealth (BCCW) has acquired Tolerance Tool, a highly skilled manufacturer of high-end injection mold tooling servicing demanding medical device and automotive customers, from co-founders Rich White and Tom Hoffer.
Beanstalk’s mission is to maintain and grow community wealth by partnering with like-minded manufacturing owners who wish to preserve their legacies and keep their businesses, jobs and economic benefits in their local communities.
Greg Kolbeck, general manager, and Roland Hart, engineering manager, with more than 50 years of combined experience with Tolerance, will continue to lead the Tolerance team. “Tolerance has a strong management team and staff, and we will continue to invest in people, process and capital investment to maintain Tolerance’s position as a high-quality U.S. manufacturer of injection mold tooling,” says Bill Smith, BCCW co-founder.
To support Tolerance’s continued sustainability, and growth in the North St. Paul, Minnesota, community, Beanstalk also partnered with Platinum Bank, a local community bank, to fund the transaction.
“As a local, Twin Cities community bank, we are delighted to have helped fund this acquisition. We share Beanstalk’s mission to keep these types of manufacturing businesses in our community,” adds David Faust, Platinum Bank CEO.
Beanstalk Collaborative Community Wealth is seeking high-quality precision manufacturing acquisition opportunities that support aerospace and defense, medical device, automotive, electronics and industrial equipment industries, with revenues of $3-20 million and/or $500k+ in EBITDA.
