Xcentric Mold & Engineering Receives Growth Investment for Continued Expansion
“Xcentric really outshines its competition with respect to fast turnaround of sophisticated injected molded part orders,” said Xcentric Co-founder and CEO Brendan Weaver. “We are excited to have this investment from The Riverside Company in order for us to expand our sales & marketing, continue making investments in high-tech machinery and robotics, and finish the development of our second factory.”
Xcentric has many paths to grow its large base of repeat customers due its unique capabilities to handle complex part orders and technology automation. The company is in the process of doubling its production capacity with the build-out of a second sophisticated factory in Michigan that will be completed this year.
“Expanding sales and marketing will help more prospects see the obvious advantages Xcentric offers,” said Xcentric Co-Founder and Vice President Damon Weaver. “Xcentric wins many of the jobs it quotes on because of its clear value proposition, so we are eager make investments that build awareness of the company and its compelling offerings.”
Riverside is excited to partner with Xcentric’s co-founders, Brendan Weaver and Damon Weaver. “This is great a story of how American ingenuity and entrepreneurship can revolutionize an established global manufacturing industry,” said Riverside Partner Joe Manning said. “Compared to traditional injection molders, Xcentric is able to produce better parts at lower prices in less time. It’s a winning formula. In addition, the company can handle complex part orders that its primary competitors simply cannot produce.”
Mooreland Partners LLC acted as exclusive financial advisor to Xcentric Mold & Engineering in connection with this transaction.
Xcentric Mold & Engineering
Based in Clinton Township, MI, Xcentric is a provider of fast turnaround time custom injection molding, rapid prototyping, and CNC machining services. The company offers online interactive quotes in a matter of hours, design manufacturability analysis, and a lifetime mold guarantee.