MBDA's Assistance Leads Firm to Business Acquisition
Core Technology Molding Corp., a plastic injection molding solutions provider, became a client of the Raleigh MBDA Business Center in 2010. The Center was a significant supporter of Core Technology Molding, advising on business valuation and giving input on prospective investments and business acquisitions.
The Center also made connections with potential investors and various financial resources. As a result of these services, Core Technology Molding secured contracts valued at over $1.1 million, relocated to a new facility, retained 10 jobs, and hired 18 new employees from surrounding communities.
"The MBDA had more confidence in me and my business model than I did. They helped extract the value so I could clearly see that I was going down the right path with my business model," said Geoff Foster, Founder and CEO.
| Minority Business Community At-A-GlanceA | ||||
| Business Owner | Number of Firms | Gross Receipts ($1000s) | Average Gross Receipts | Paid Employees |
| African American | 83,919 | $5,422,332 | $64,614 | 58,100 |
| American Indian & Alaska Native | 8,024 | 1,100,167 | 137,110 | 8,158 |
| Asian American | 20,157 | 5,890,702 | 292,241 | 44,288 |
| Native Hawaiian & Pacific Islander | 451 | 35,122 | 77,876 | 110 |
| Hispanic American | 21,301 | 4,183,719 | 196,410 | 18,997 |
| All Minority | 131,728 | 16,108,472 | 122,286 | 129,493 |
| MBDA CLIENT ASSISTANCE BY SECTOR | ||||||
|  | Private Sector | Federal Government | State Government | Local Government | Not Disclosed | Total |
| Dollar Value of Contracts | $47,094,685 | – | – | – | – | $47,094,685 |
| Dollar Value of Capital | 13,289,637 | – | 1,003,689 | – | – | $14,293,326 |
| Number of Contracts | 15 | – | – | – | – | 15 |
| Number of Capital Transactions | 8 | – | 2 | – | – | 10 |
| TOTAL TRANSACTIONS | 23 | – | 2 | – | – | 25 |
| MBDA CLIENT ASSISTANCE BY INDUSTRY | ||
| Number of Transactions | Value of Transactions | |
| Construction | 5 | $37,661,252 |
| Manufacturing | 1 | 22,659,259 |
| Transportation, Warehousing & Public Utilities | 2 | 887,500 |
| Other | 1 | 180,000 |
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