NNBR NN Inc

Blackford Capital (“Blackford”), a leading lower middle market private equity firm, announced today the acquisition of Industrial Molding Corporation (“IMC”), an injection molded plastic products manufacturer and subsidiary of NN, Inc. (NASDAQ: NNBR), as the first add-on acquisition for its portfolio company, Davalor Mold Company, LLC (“Davalor”).

IMC is an independently run subsidiary of global precision metal manufacturer NN, Inc. Founded in 1947, IMC is a leading manufacturer of precision-engineered injection molded industrial components with international blue chip customers in a wide variety of end markets. The Lubbock, Texas-based manufacturer has an exceptional, long-tenured management team who will continue in their current roles.

Davalor, a manufacturer and distributor of injection molded plastic products primarily for the automotive industry, is headquartered in Chesterfield, Michigan. Under a new leadership team that includes CEO John Boeschenstein, Davalor's business has experienced rapid organic growth and an expanding customer mix in recent years.

“We are excited to welcome the IMC team to Davalor. We are committed to providing our customers with the most advanced, most reliable injection molded plastic products available. As we seek to expand our capabilities beyond our core plastic injection molding offering, we are thrilled to have found a strategic partner with a great management team, a professional and highly capable staff, and a strong, design-for-manufacturing approach to injection molded plastics. I look forward to working together to expand our capabilities on a national scale,” said Boeschenstein.

Perfectly timed to realize strong cost synergies and drive non-organic growth, the acquisition of IMC is the first addition to the Davalor platform since being acquired by Blackford Capital in 2016. The expanded platform marks an initial stride toward establishing a global, full-service plastics injection molding business with a wide range of capabilities and a diversified, global customer base.

The Davalor and IMC teams will operate as separate business units.

“Industrial Molding Corporation is an exceptional addition to the Davalor platform, expanding strength of leadership and depth and breadth of capability. Their seasoned leadership team and deep expertise in the plastics injection molding industry will be a capability multiplier for our customers,” said Martin Stein, founder and managing director of Blackford Capital. “With the addition of IMC, we are building a solid foundation for accelerated and sustained growth within the Davalor platform, paving the way for continued expansion and innovation.”

Blaige & Company served as the exclusive financial advisor to NN, Inc. on the transaction. Greenberg Traurig, LLP served as counsel for Blackford Capital, with legal entity support from Varnum LLP. Parliament Capital Management provided lending for the acquisition, with legal support from DLA Piper. Plante Moran advised on financial and tax diligence, and Signature Associates CRE brokered the Sale Leaseback transaction with STORE Capital.

About Blackford Capital Founded in 2010, Blackford Capital is a private equity investment firm headquartered in Grand Rapids, Michigan. Blackford acquires, manages, and builds founder and family-owned, lower middle-market companies, with a focus on the manufacturing, industrial and distribution industries. Blackford has a track record of exceptional returns, a disciplined and relentless approach to value creation, and a focus on operational excellence and a compelling culture. In 2023, Blackford Capital was named to Inc’s list of Founder-Friendly Investors, was recognized by ACG Detroit with the 2023 M&A Dealmaker of the Year Award and awarded the 2023 Small Markets Deal of the Year award by both Buyouts Magazine and the Global M&A Network Atlas Awards. For more information, visit www.blackfordcapital.com.

About Davalor Mold CompanyFounded in 1979, Davalor Mold Company is a manufacturer and distributor of injection molded plastic products. Headquartered in Chesterfield, Michigan, Davalor offers a wide variety of molded plastic products found in OEM level automotive corporations, which are supplied by Tier 1 automotive suppliers. To learn more about the company, visit www.davalor.com.

Media Contact: Amy Romano Lambert(480) 577-9989aromano@lambert.com

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