The operations of Beach Mold & Tool have been acquired by NYX. Amherst acted as exclusive financial advisor to Beach Mold & Tool in connection with the transaction.
Comerica provided debt financing to NYX to support the transaction, and Wells Fargo provided financing to Beach Mold & Tool.
Amherst Partners served 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 its 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, IN.
Based on these requirements, NYX was selected as the buyer for the newly-revitalized Beach Mold & Tool.
“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,” said NYX Chairman, Chain Sandhu.
Beach Mold & Tool 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.
Headquartered in Livonia, MI, NYX is a minority owned business enterprise that designs, develops, and manufactures interior and technology solutions for the automotive industry.
Founded in 1994, Amherst Partners is a financial advisory firm, specializing in restructuring advisory, corporate finance, and capital raising services.