BlueWater Partners Announces the Sale of Dies Plus
GRAND RAPIDS, Mich., November 27, 2017 – Dies Plus, Inc., a leading manufacturer of precision metalforming dies and tooling, has been acquired by OTTO Engineering, Inc. (“OTTO”), a manufacturer of control switches and audio accessories. The acquisition complements OTTO’s internal stamping capabilities, and OTTO plans to make additional investments in people and technology at Dies Plus in order to grow the business. All employees of Dies Plus were retained. BlueWater Partners acted as the exclusive financial advisor to Dies Plus for this transaction.
“Our key focus and success has been the dedication to create a modern machine shop. Staying one step ahead of our competition by embracing state of the art technology, reinvesting in new machinery, and exploring 3D software have been the key elements of our success,” explained Neil Dohe, Vice President of Dies Plus. “We look forward to continuing this passion of building precision stamping dies with a company sharing our vision and to support American manufacturing!”
“I see a tremendous opportunity to invest in the future of American manufacturing,” said Tom Roeser, President of OTTO. “It takes several years of experience and training to become a tool and die maker. Our plan is to hire several apprentices and experienced tool and die makers and grow these important technologies.”
About Dies Plus
Headquartered in Itasca, IL, Dies Plus provides die manufacturing, wire EDM, engineering, and maintenance & repair for customers in the automotive, connector terminals, bus bars, medical, turbines, cell phone, lighting, and other industries. The company focuses on close tolerance, Class A stamping dies, and has experience with many metals including steel, stainless steel, and non-ferrous metals. Dies Plus has the skilled personnel and precision equipment to meet tolerances down to .0001 of an inch, and the flexibility to handle specialized tooling like multi- and four-slide dies. www.diesplus.com
About OTTO Engineering
For over 55 years, OTTO has been designing and manufacturing a full line of control switches, and for over 25 years, audio accessories for unique and demanding applications. Located in Carpentersville, IL, the company is recognized worldwide for superior performance and innovative products. OTTO is a vertically integrated manufacturer with in-house injection molding, stamping, CNC machining, cable assembly and cable overmolding capabilities. The company markets its products through two divisions, OTTO Controls and OTTO Communications. www.ottoexcellence.com
About BlueWater Partners, LLC
BlueWater Partners is a middle market investment banking and consulting firm. As strategic advisors to business owners and management, BlueWater Partners works with companies to create, manage and realize business value, frequently before or through a sale or acquisition. BlueWater Partners’ services include advice on mergers and acquisitions, divestitures, capital sourcing, performance improvement, restructuring and turnaround.
Contact:
Matt Miller, Managing Director, BlueWater Partners, matt@bluewaterpartners.com, 616.988.4796
Jerry Dohe, President, Dies Plus, jerrydohe@diesplus.com, 630.212.0543
Tom Roeser, President, OTTO Engineering, tom.roeser@ottoexcellence.com, 847.654.8205
