Riverside Starts 2017 in the Same Mold as Last Year
Firm Already Notches Platform Deal with Xcentric Investment
The Riverside Company has invested in Xcentric Mold & Engineering (Xcentric) of Clinton Township, Michigan. Xcentric provides technology-enabled, quick-turn injection molding, rapid prototyping, and CNC machining services for clients across numerous industries including medical devices, aerospace, automotive, consumer products, and electronics.
Xcentric has earned a stellar reputation for its proprietary software, systems and processes, which allow it to manufacture both the mold tooling and injection molded parts much more rapidly and cost effectively than traditional injection molders in the U.S. or Asia. Xcentric can produce and deliver complicated part orders in as little as 15 days. The company handles orders as low as 50 parts and as high has 100,000 parts, all with the same level of high quality and fast turnaround times via its high-tech Michigan manufacturing facility.
“Xcentric really outshines its competition with respect to fast turnaround of sophisticated low and medium volume orders,” said Riverside Managing Partner Loren Schlachet. “Compared to traditional injection molders, they’re able to produce better products at lower prices in less time. It’s a winning formula.”
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 Riverside Partner Joe Manning. “Xcentric wins many of the jobs it quotes on because of its clear value proposition, so we are eager to 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,” Manning said.
Working with Schlachet and Manning on the deal for Riverside were Senior Associate Jason Thorn, Associate Blake Tokheim, Operating Partner Karim Kanji, Finance Director Michael Rath and Principal Dan Haynes. Origination Principal Jeremy Holland and Origination Principal Amy Margolis sourced the deal for Riverside.