Summit, established in 1996, mainly serves customers in the medical and packaging end markets
Fathom has acquired Summit Tooling and Summit Plastics. (Credit: Adam Radosavljevic from Pixabay)
CORE Industrial Partners portfolio company Fathom has acquired US-based Summit Tooling and Summit Plastics (collectively, known as Summit) for an undisclosed sum.
With a focus on the medical and packaging end markets, Summit provides precision tooling and injection moulding services to its customers.
Summit president Dan Martin said: “Since my wife, Michelle, and I founded Summit 25 years ago, we’ve been committed to providing outstanding quality and customer service to build the business into a leader in the design, engineering and construction of moulds and moulded components.”
Established in 1996, Summit offers plastic injection mould design, precision mould-making and close-tolerance injection moulding services. It has expertise in offering in small-to-medium prototype injection moulds.
Its in-house metalworking capabilities consist of engineering design, sheet metal shearing, punching and bending, roll forming, hardware integration, welding, grinding, polishing, painting and assembly.
Also, Summit’s thermoplastics engineering expertise enables the company to process multi-shot tooling, bi-injected tooling and insert overmoulding, in addition to providing pad printing, hot stamping, ultrasonic welding and assembly.
Based in the northwest of Chicago in McHenry, Illinois, Summit manages a 26,000ft² facility with a fleet of more than 30 machines.
Fathom CEO Ryan Martin said: “Summit’s focus on customers during the design, prototyping and low-volume production stages of a product’s life cycle perfectly aligns with Fathom’s unique customer value proposition.
“We’re excited to work with the Summit team to explore opportunities to even better serve its customers through Fathom’s comprehensive digital manufacturing platform while also providing Fathom’s existing customer base expanded domestic quick-turn precision tooling and moulding capabilities.”
Monroe Capital provided financing for the acquisition, while Winston & Strawn offered legal services to CORE and Fathom for the deal.