Polymer Design Acquires Agile Technologies

ROCKLAND, MA (May 23, 2000). Polymer Design Corporation announced today that it has acquired Agile Technologies LLC of Indianapolis, Indiana. Agile Technologies is an ultra-quick-turn producer of high-quality tooling for the injection molding industry. Terms of the transaction were not announced.

Polymer Design, based in Rockland, Massachusetts, specializes in rapid, low-volume manufacturing of complex, high-performance plastic parts. The company, recognized as the nation's leader in liquid resin casting, also produces injection molded parts. The acquisition of Agile Technologies by Polymer Design increases Polymer's ability to service its customers. Tool building is a key part of the injection molding process and vital to the success of a project.

According to Frank Lessen, President & CEO of Polymer Design, "The business philosophy and corporate cultures of the two companies mesh perfectly. Agile emphasizes speed, service and customer satisfaction just like Polymer Design. They also excel in project management, which in today's plastic processing environment is the name of the game."

Tim Paul, a founder of Agile Technologies, stated that, "Agile Technologies specializes in reducing tooling lead time by 50% or more. Our customers recognize the value of cutting lead-time without cutting quality, and that's what Agile does. We see the same urgency in Polymer and already have a number of success stories working together under our collective belts. We are very excited about being part of the Polymer team."

Polymer Design is owned by North American Funds, partnerships of institutional investors that specialize in acquiring small businesses and developing them into significantly larger enterprises. North American, headquartered in Chicago, has acquired companies in a wide variety of industries since its formation in 1989.