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3i backed MoldMasters acquires UK firm

Monday, October 12, 2009

Mold-Masters Acquires Controller Manufacturer PMS Systems

Friedrichshafen, Germany - Mold-Masters (2007) Ltd. of Georgetown, Canada has acquired PMS Systems based in Hereford, UK. The combined businesses will become one of the world's largest hot runner controller manufacturing companies and the global leader in hot runner control technology.

"Mold-Masters and PMS have worked together for many years in the development and supply of the highest quality and performance micro processor based temperature controllers." said Jonathon Fischer, President and CEO of Mold-Masters. "This seamless working relationship has enabled our two companies to take the next natural step and become a single company. We believe strongly in the strengths of PMS and together we will create additional value for our growing customer base." said Fischer.

"We see tremendous synergies between Mold-Masters and PMS. We are very excited about the opportunities that will emerge as a result of this transaction since we both share the same common goal to be the industry's number one choice for hot runner technology," said Iain Nunn, Director and one of the three founders of PMS.

Mold-Masters will also be retaining the PMS distributor network. "We are very pleased that the existing PMS distributors have agreed to come on board with the new organization. Distributors such as IMSI and others bring significant knowledge and relationships in hot runner controls. Combining the strength of this network with the industry's most advanced controllers is a powerful combination of technology and experience." stated Patrick Bennett Executive VP of Sales for Mold-Masters.

 

Notes to editors

About PMS Systems Limited

PMS was founded in 1974 by Iain Nunn, Andrew Reed and Stephen Kench. PMS Systems is the largest manufacturer of hot runner controllers in the UK, with the widest range of hot runner control products from any worldwide manufacturer. All design and manufacturing of the control products are carried out in-house.

PMS places a great deal of emphasis on simplicity of use, and operation of their controllers. This, together with superior backup from a team of enthusiastic and knowledgeable engineers, ensures that they remain market leaders in control technology.

Innovation has always been important to PMS and in 1981 the world's first screen based Hot Runner Controller was exhibited at Interplas, the International Plastics Exhibition in Birmingham, England. Other firsts in hot runner control include the World's first colour LCD HMI console in 1992, closely followed by the world's first color touch screen console in 1996. Technology that has now been widely adopted in the industry. For more information on PMS Systems, please visit www.pmssystems.com.

 

About Mold-Masters Limited

Mold-Masters Limited is the global leader in hot runner technology. The company has invested heavily in research and development with more than 1,600 granted and pending international patents. Mold-Masters designs and manufactures the plastic industry's most advanced hot runner systems, temperature controllers and complete hot half solutions.

Their support network spans more than 40 countries, with facilities in North America, South America, Europe and the Pacific Rim. For more information on Mold-Masters, please visit www.moldmasters.com.

 

About 3i

3i North America invests selectively in market leading businesses across the region, focusing activity on Growth Capital (minority investing in high growth businesses) and Infrastructure (investments in asset-intensive businesses providing essential services on long term basis). 3i Growth Capital typically invests up to $300m per deal, in businesses with enterprise values ranging from $150m to $1.5bn, participates in both minority and change of control investments to help businesses achieve growth ambitions, restructure shareholdings, provide liquidity or change the balance of equity to debt.
3i North America’s total investment portfolio includes companies such as: Quintiles (CRO services to pharmaceutical industry), Gain Capital (FOREX.com retail foreign exchange trading platform), Butterfield Fulcrum Group (global hedge fund administrator) and MoldMasters (plastic injection mouldings).
http://www.3i.com/

For further information please contact:

Rachel Richards, 3i Press Office,
email. rachel.richards@3i.com
tel. +44 207 975 3573

Contact

For further information please contact:
Rachel Richards
rachel.richards@3i.com
+44 207 975 3573

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