Nearly 100% medical device and labware diagnostics molding company that was run-rating at an annual loss of $2M at closing due to customer losses. We developed a turnaround plan to get this company back to positive. These were our steps:
- Reduce overhead
- Reduce toolroom staffing and exit the toolmaking business
- Automate 17 injection molding machines with take-out robots.
- Repair worn/damaged molds at our cost (reducing labor required to inspect molded parts.
- Selected price increases
That led to:
- $1.5M TTM EBITDA Improvement
- $3M Run-rate EBIDTA improvement
- 25% EBITDA margin on $10M in new molding from 2021 program
- 74% Support
Specialization in Life-Saving Plastics
Now more than ever, the need to be able to create durable, clean and safe medical devices quickly and effectively is paramount for today’s world. Our team has worked in a variety of areas in the medical manufacturing environment, helping create products that have helped improve people’s lives through plastics development. We roll up our sleeves and dive in and understand niche businesses and all the factors that make them successful.