Form Technologies: Signicast Buying European Investment Caster
CIREX produces steel investment castings in The Netherlands, lost-wax castings in Czech Republic, finish machining in Slovakia
Steel investment caster Signicast has an agreement to acquire Cirex, also a steel investment caster, which is based in The Netherlands and has a lost-wax foundry in the Czech Republic and finish machining plant in Slovakia. The seller is a pair of private-equity funds. No acquisition price has been announced.
"Consistent with the vision when Signicast was acquired by Form Technologies, the addition of Cirex globalizes the footprint outside the United States into European markets, expanding our services into that region," stated Clayton Tychkowsky, Signicast CEO.
Form Technologies is the business formed by Dynacast Intl. in 2018, following Dynacast’s purchase of Signicast in 2017. Along with Signicast, its portfolio includes Dynacast, a precision engineered diecasting producer; and OptiMIM, a metal injection molding business.
The new purchase follows Signicast’s purchase of Consolidated Casting Corp., Hutchins, TX, in 2018.
"It provides us the ability to service global customers seeking a Signicast precision-engineered solution outside of North America," Tychkowsky continued. "This acquisition is a transformational moment for Signicast, representing our first step toward taking our brand global and adding capacity for both existing and new markets."
Welcoming the new ownership, Cirex managing director Jeroen Spoelder noted,"the acquisition … will give existing Cirex customers access to the full range of capabilities offered by Signicast, Dynacast, and OptiMIM. The new combined operation will also benefit from the Form Operating System, a platform for ensuring customers get the highest precision components, market-leading advice and expertise, and rock-solid business stability."