International. CKT is one of the few suppliers in North America of large injection molded plastic parts and panels for commercial trucks and buses.
Angle Advisors today announced that Creative Liquid Coatings (CLC ) has acquired the assets of CK Technologies (CKT) from Cascade Engineering. Angle Advisors acted as exclusive investment banking advisor to Cascade and CKT to complete this transaction.
CKT is one of the few suppliers in North America of large injection molded plastic parts and panels for commercial trucks and buses.
With operational facilities in Ohio, North Carolina and Texas, CKT provides vertically integrated services using 16 injection molding presses, automated paint finishing lines and advanced assembly capabilities.
According to the company, rising costs of inflation and labor shortages generated unrecovered costs that challenged CKT's ability to continue operating under the status quo.
The buyer, CLC, is already a vertically integrated supplier of injection molded parts. CLC also serves the automotive and commercial vehicle industries and had previously provided outsourcing/overflow production as a CKT supplier.
CKT is CLC's second major acquisition, since 2021, and secures a new investment in CKT to sustain the business.
CLC President and CEO Stephen Geist said, "What really attracted us were the customer relationships and strategic infrastructure designed to support those customers. It is rare to find such a large concentration of large-tonnage injection molding capabilities."
For Cascade, the sale of CKT represents a planned exit from the commercial vehicle components market.
"We appreciate Angle Advisors' guidance and expertise throughout this process," said Christina Keller, CEO of the Cascade Engineering family of companies.
"Angle's experience with companies in the delicate situation of CKT allowed us to close a deal expeditiously with an optimal buyer for CKT and take care of our customers," he said.
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