PE-backed Toledo Molding & Die buys WEK Industries

Toledo Molding & Die, a portfolio company of Industrial Opportunities Partners, has acquired WEK Industries. The seller was Myers Industries. No financial terms were disclosed. Western Reserve Partners advised Myers Industries on the transaction. Based in Jefferson, Ohio and Reidsville, North Carolina, WEK Industries is a provider of engineered blow molded components and assemblies for the automotive sector.


CLEVELAND, OH (June 24, 2014) – Western Reserve Partners, LLC announced today that it served as the exclusive financial advisor to Myers Industries, Inc. (NYSE: MYE) in the sale of WEK Industries, Inc. to Toledo Molding & Die, Inc. (“TMD”), a portfolio company of private equity firm Industrial Opportunities Partners. Myers was advised by Managing Director Kevin Mayer and Director Matt Mueller of the firm’s Industrial Group, supported by Analyst Kevin Harper. This represents the second automotive industry divestiture Western Reserve has advised on this quarter. Western Reserve also advised Stoneridge, Inc. (NYSE: SRI) in the divestiture of its Wiring Business segment, which was announced in May.

WEK Industries is a provider of engineered blow molded components and assemblies to the automotive industry. With locations in Jefferson, Ohio and Reidsville, North Carolina, WEK was a part of Myers Industries’ Engineered Products Segment.

TMD is a full-service automotive supplier that designs, develops and manufactures highly engineered thermoplastic components and assemblies, including interior cockpit modules and air and fluid management products. TMD has approximately 1,500 employees and operates out of eight facilities in Ohio.

“TMD is a great strategic partner for WEK, and we are pleased to have played a part in bringing these two exceptional companies together,” commented Mr. Mueller, who leads Western Reserve’s Automotive practice. “WEK will expand TMD’s customer base and product lineup, as well as provide enhanced access to the growing automotive manufacturing base in the South.”

“This was a highly competitive process with several parties showing strong interest in the business. In the end, TMD was the best partner for the business, and the transaction allows Myers to continue to focus on its core businesses,” said Mr. Mayer.

About Western Reserve Partners LLC
Western Reserve provides M&A, capital raising and other financial advisory services to middle market companies across a focused set of industry verticals, including industrial, business services, consumer, healthcare, technology and real estate. We deliver thoughtful advice, keen market insight and superior execution to our clients, both nationally and internationally, and our managing directors average nearly 30 years of experience and have directly executed more than 600 transactions throughout their careers.

Western Reserve Partners LLC is a member of M&A International, the world’s largest alliance of investment banking firms, as well as World Services Group, a global consortium of middle market focused law firms and other advisors, which provides unparalleled access to global companies and investors. The firm is a FINRA-member broker / dealer and member of SIPC.