Xcentric Mold & Engineering has received an investment from The Riverside Company, a global private equity investment firm focused on high growth businesses in a variety of sectors. Xcentric provides custom injection molding, rapid prototyping and CNC machining services for clients across numerous industries including medical devices, aerospace, automotive, consumer products and electronics.
Xcentric’s proprietary software, systems and processes allow it to manufacture both the mold tooling and injection molded parts much more rapidly and cost effectively than traditional injection molders. The company states that it can produce and deliver complicated part orders in as little as 15 days and handles orders as low as 1 part and as high has 100,000 parts via its Michigan manufacturing facility.
“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,” said Xcentric Co-founder and CEO Brendan Weaver.
Xcentric is currently in the process of doubling its production capacity with the build-out of a second factory in Michigan that will be completed this year.
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.”