Seattle, Washington | June 2016 – Meridian Capital is pleased to announce the acquisition of its client, Mold Rite, Inc. (“Mold Rite”), by Sound-Rite Plastics, Ltd. In connection with the transaction, Meridian served as the exclusive advisor to the shareholders of Mold Rite. Peterson Russell Kelly, PLLC, led by Rick Carlson provided legal services for Mold Rite.
Founded in 1978 and located in Woodinville, WA, Mold Rite has become one of the Northwest’s leading custom plastic injection molding companies with a proven history of meeting customer needs utilizing cost effective solutions to build long term relationships. Led by the husband and wife team of Gary and Karin Hilse, Mold Rite’s services include in house tooling, building class 103 to 101 injection molds, custom injection molding utilizing the latest technology, contract manufacturing and assembly. Mold Rite is a leading manufacturer for the aerospace, healthcare and consumer markets.
Sound-Rite Plastics, Ltd. owns an injection molding company, similar to Mold-Rite, Inc., that is based in Idaho.
Gary Hilse, owner of Mold Rite, commented on the transaction saying, “Meridian Capital, led by Patrick Ringland, was invaluable to the successful outcome of this transaction. Meridian brought experience and expertise and really rolled up their sleeves to help us along the way.”
“Working with the Mold Rite management team and owners was extremely rewarding. We are very pleased with the outcome and look forward to seeing the success of this new strategic partnership,” commented Patrick Ringland, Managing Director at Meridian Capital.