MINNEAPOLIS, MINNESOTA – Quazar Capital Corporation is pleased to announce the sale of its client, Imperial Custom Molding, Inc. (also known as ICM Plastics), to Metro Mold & Design, LLC.
THE COMPANY– Imperial Custom Molding, Inc. operates 180,000 square foot facilities and has approximately 200 employees. The Company specializes in Thermoset, Thermoplastic, Blow Molding, Injection Molding, Tooling (Mold-Making), and Contract Manufacturing solutions. The Company also has patented technology for the Fuel Cell Industry.
THE SITUATION– ICM owner Chuck Van Heel decided to sell the Company in order to pursue other interests. The main objectives of the sale were to maximize the value received for the company, retain employees, and align the company with a successful industry player that could sustain and support the future growth of the Company.
THE RESOLUTION– After talking to numerous local, national, and international buyers, our Client decided to sell to a buyer that he was very comfortable with and knowledgeable of. The sale resulted in a smooth transition for the employees and customers of ICM. “The process was very difficult but it was comforting to know Quazar was working with me,” said Chuck Van Heel after the transaction.