16 Jul NYX Acquires the Operations of Beach Mold & Tool
Amherst Partners, LLC (“Amherst”) is pleased to announce that the operations of Beach Mold & Tool, Inc. (“Beach”) have been acquired by NYX, Inc. (“NYX”). Amherst acted as exclusive financial advisor to Beach Mold & Tool in connection with the transaction.
About Beach Mold & Tool
Beach Mold & Tool, Inc. is a privately held company that specializes in manufacturing precision tools and plastic injection molding for a range of applications including automotive suppliers and OEMs, medical component suppliers, business technology enterprises, and consumer product suppliers.
Founded in 1972 by William H. Beach and his wife Juanita, and based in New Albany, Indiana, the company grew to occupy more than 550,000 square feet with more than 140 injection molding machines and an in-house tool shop by 2019.
Headquartered in Livonia, Michigan, NYX, Inc. is a minority owned business enterprise that designs, develops, and manufactures interior and technology solutions for the automotive industry. NYX offers a wide range of value-add products, including door panels, center consoles, instrument panels, soft and hard trim garnish, 2-shot seating components, seat back panels, automotive fabrics, and in-house automation and tooling. NYX was incorporated in 1984 and is operational in five countries including in the Metro Detroit area; Linden, Tennessee; Windsor, Canada; San Luis Potosi, Mexico; Shanghai, China; and Chandigarh, India.
NYX Chairman, Chain Sandhu was proud and excited with the completion of the transaction. “Today is a great day for our new employees we are welcoming to our family, this transaction provides growth opportunity and job stability for all our employees and puts NYX in a position to continue to provide value to our customers with new geography, scale, product options, and processes. We are well positioned for sustainable growth and entrance into new markets and industries.”
About the Transaction
In 2018 Beach Mold & Tool, Inc. engaged Amherst Partners in an advisory capacity. As part of the engagement, Amherst helped Beach wind down operations at a non-core production facility in Virginia and implement other financial and operational improvements that increased the productivity and profitability of its primary production facility.
When the business owners indicated an interest in selling the company, Amherst worked with their other advisors and additional stakeholders in their customer base to identify a purchaser who would be able to meet Beach’s production obligations and also help the business attain its next-level growth goals while continuing to support its valued employees in and around the community of New Albany, Indiana.
Based on these requirements, NYX, Inc., with its reputation for operational excellence and strong customer base among the global automotive OEMs and suppliers, was selected as the buyer for the newly-revitalized Beach Mold & Tool.