Masport Foundries bought by Challenge Partners
Masport Foundries has been purchased by Challenge Partners. The deal was completed on 31 October.
CPL is an investment group whose purpose is to hold and grow industrial businesses, and has created jobs and invested heavily in plant in its current subsidiaries.
CPL also owns Fieldmaster, an agricultural equipment manufacturer now famous for making the world’s fastest mowing equipment for airports, and LEP Engineering Plastics which supplies injection mouldings, polyurethane castings and machined plastic solutions to companies around the world as well as here in NZ.
Should readers be considering new product development, LEP owns the largest 3D printing company in New Zealand (and the latest 3D scanning technology), reducing time to prototype dramatically.
Wolf Schmal appointed managing director assures customers will continue to enjoy the quality and service they have come to expect – and in fact CPL has already authorised an upgrade of its Plascoat powder coating line to boost capacity.
CPL has purchased the assets of the business, held by a company named MFL – and while you will continue to know us as Masport Foundries in the short-term, we will rebrand next year in order to move away from the name (which belongs to the retail lawnmower and BBQ brands still owned by our former owner) – all in due course.