NEW YORK, September 9, 2020 – NewHold Enterprises, LLC (NewHold), a long-term investment holding company and direct investment platform focused on middle market industrial and services companies, together with its partners at Tecum Capital, announced today a growth investment in F&S Tool Inc. (F&S). F&S is an innovation leader in the design and manufacture of high-output precision tooling. Financial terms of the transaction were not disclosed. This transaction represents NewHold’s third platform, following its investment in the non-hazardous liquid waste industry, through American AllWaste LLC in mid-2018 as well as its investment in architecture and engineering services through PRIME AE Group, Inc. in November 2019.
“We feel very fortunate to be partnering with F&S at an inflection point in the businesses’ evolution, and for domestic manufacturing more broadly, where we see more complex areas of the critical supply chain coming back home,” said Kevin Charlton co-chairman of NewHold. “For various reasons, the F&S value proposition is more relevant than ever, and we look forward to supporting the company’s growth through this period and beyond.”
F&S Tool Inc. (F&S), founded in 1983, is a family owned/operated manufacturer of precision tooling. F&S specializes in high-output, high-efficiency injection and compression molds. The company excels in the most complex mold designs, including Stack and Cube Molds with high-cavity applications that produce volume products and with industry leading (short) cycle times. F&S operates out of a 90,000 square foot facility located on the shores of Lake Erie in Erie, Pennsylvania, USA.
“F&S has built a reputation of outpacing our competition through innovation and virtual engineering, producing precise, highly reliable, durable, fast-cycling molds that deliver a superior return on investment to customers,” said JD Faulkner, CEO of F&S. “These areas helped F&S experience tremendous growth within the medical and packaging markets. The primary goal of our dedicated team is to solve custom problems, and this new partnership allows us to access broader experience and capital to help support our continued growth.”
NewHold is a holding company focused on long-term ownership and growth of North American, middle-market industrial and services companies. Established in 2017, NewHold operates through platforms which are built through acquisitions and organic growth of such companies. Each platform strategy is led by an experienced industry executive and is targeted to reach a minimum of $30 million to $50 million of EBITDA. NewHold’s investors consist primarily of family offices seeking long-term capital appreciation through ownership and growth of middle-market, industry-leading companies. www.newhold.com