Xcentric Mold & Engineering announced today that it has received an investment from The Riverside Company, a global private equity investment firm focused on high growth businesses in a variety of sectors. Xcentric provides technology-enabled custom injection molding, rapid prototyping, and CNC machining services for clients across numerous industries including medical devices, aerospace, automotive, consumer products, and electronics.
Xcentric has earned a stellar reputation for its proprietary software, systems and processes, which allow it to manufacture both the mold tooling and injection molded parts much more rapidly and cost effectively than traditional injection molders in the U.S. or Asia. Xcentric can produce and deliver complicated part orders in as little as 15 days. The company handles orders as low as 1 part and as high has 100,000 parts, all with the same level of high quality and fast turnaround times via its high-tech Michigan manufacturing facility.
“Xcentric really outshines its competition with respect to fast turnaround of sophisticated injected molded part orders,” said Xcentric Co-founder and CEO Brendan Weaver. “We are excited to have this investment from The Riverside Company in order for us to expand our sales & marketing, continue making investments in high-tech machinery and robotics, and finish the development of our second factory.”
Xcentric has many paths to grow its large base of repeat customers due its unique capabilities to handle complex part orders and technology automation. The company is in the process of doubling its production capacity with the build-out of a second sophisticated factory in Michigan that will be completed this year.
“Expanding sales and marketing will help more prospects see the obvious advantages Xcentric offers,” said Xcentric Co-Founder and Vice President Damon Weaver. “Xcentric wins many of the jobs it quotes on because of its clear value proposition, so we are eager make investments that build awareness of the company and its compelling offerings.”
Riverside is excited to partner with Xcentric’s co-founders, Brendan Weaver and Damon Weaver. “This is great a story of how American ingenuity and entrepreneurship can revolutionize an established global manufacturing industry,” said Riverside Partner Joe Manning said. “Compared to traditional injection molders, Xcentric is able to produce better parts at lower prices in less time. It’s a winning formula. In addition, the company can handle complex part orders that its primary competitors simply cannot produce.”
Mooreland Partners LLC acted as exclusive financial advisor to Xcentric Mold & Engineering in connection with this transaction.
Xcentric Mold & Engineering