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News and Events

May 16, 2016

Dunes Point Capital, LLC Announces the Acquisition of MultiSource Manufacturing LLC

RYE, N.Y., May 16, 2016 /PRNewswire/ -- Industrial Group Holdings, LLC, a portfolio company of Dunes Point Capital, LLC has acquired MultiSource Manufacturing, LLC ("MultiSource"). Located in Minnetonka, MN, MultiSource is a supply chain partner and end-to-end provider of precision machining and assembly solutions to leading original equipment manufacturers in the medical, aerospace, food and industrial end markets. MultiSource has eight manufacturing facilities in Minnesota and Colorado and employs approximately 330 people. For more information, please visit www.multisourcemfg.com.

Houlihan Lokey advised MultiSource through the sale.

About Dunes Point Capital, LLC (“DPC”): Founded in 2013, DPC is a family office and private investment firm, pursuing control investments in companies operating in the general industrial and energy sectors. DPC targets companies with enterprise values of up to $500 million. For more information, please visit www.dunespointcapital.com.

About Industrial Group Holdings, LLC ("IGH”): Located in Rye, NY, IGH is a holding company that oversees and manages nine industrial and chemical companies.

August 8, 2014

MultiSource Manufacturing has been named a finalist in the "Employee Training" category for the Minnesota Business Magazine 2014 Manufacturing Awards.

MultiSource Manufacturing will be profiled in the October 2014 issue of the Minnesota Business Magazine. The final winner for the category will be announced during a Sept. 23 awards ceremony.

For the full press release by Minnesota Business Magazine, please visit: minnesotabusiness.com/finalists-announced-2014-manufacturing-awards.

To see current job positions within MultiSource, please visit our Careers Section.

Mike Schuffenhauer, President 612-270-9061

August 4, 2014

MultiSource Manufacturing, a customer-focused contract manufacturer offering a broad range of manufacturing capabilities, announces its 13th acquisition.

On July 31, 2014, MultiSource acquired the business assets of the former Toolkraft, Inc., located in Fridley, MN, previously owned by the Zbikowski family. Toolkraft employed 32 people, all of whom have been hired by MultiSource.

Toolkraft is an excellent fit for MultiSource as it adds new capabilities, allowing MultiSource to pursue both larger-sized and more tightly toleranced machined parts from its customers. MultiSource is an excellent fit for Toolkraft, as the transaction allows Toolkraft's customers access to a significantly larger number of machine tools, as well as ISO 9001, ISO 13485, and AS9100C certified systems and processes that can allow their customers to place more orders.

The business will continue to operate in Fridley as the real estate, a 46,000 square foot building with expansion opportunities, was purchased by MS Holdings, LLC, MultiSource's real estate entity.

Toolkraft will immediately operate as MultiSource - Fridley Division.

To learn more about MultiSource and Toolkraft, please visit the following websites at www.multisourcemfg.com and www.toolkraftinc.com or contact us directly.

Gary L. Hadley, CEO 612-963-9373

Mike Schuffenhauer, President 612-270-9061

June 29, 2012

MultiSource Manufacturing, LLC Completes 12th Acquisition since Inception in 1998

MultiSource Manufacturing LLC announces the acquisition of Form Tools, Inc., located in Plymouth, MN. Form Tool's operations will be consolidated into other MultiSource Manufacturing metro Minneapolis, on or before December 31, 2012. Mark Eriksson and Chuck Dahl will continue working with MultiSource, as will all of their skilled machinists and other staff. “Form Tools provides milling and turning expertise to its customers, along with significant Wire EDM production, which is an area where MultiSource has recognized the need for additional capacity. For many reasons, Form Tools is a terrific fit for MultiSource.” said Mike Schuffenhauer, President of MultiSource.

“The growth potential of the Form Tools customer base and strong management culture make it a natural fit for our growth strategy. We look forward to working with the Form Tools management team to help take them to the next level and to provide our newly-combined customer base with additional capabilities.”

For further information on MultiSource and its operating divisions, please visit our website at www.multisourcemfg.com.                

March 23, 2012 

MultiSource Manufacturing, ARCC receive $265,000 grant for employee training

In late February, Anoka-Ramsey Community College was awarded a $265,000 Minnesota Job Skills (MJSP) Grant with MultiSource Manufacturing, a precision machining company working with the semiconductor, aerospace and defense industries.

Over the next two years, Anoka-Ramsey will provide training at MultiSource’s four locations in the Twin City metro area (Ramsey, Anoka, Minnetonka and Burnsville). The training will include classes in: CNC Machining, Geometric Dimensioning and Solid Works. Drawing on Anoka-Ramsey’s already extensive programming, various classes teaching Lean manufacturing strategies will also be offered.

Leveraging on the recent alignment between Anoka-Ramsey and Anoka Technical College, and the strengths of each institution, Anoka Tech will provide some of the technical classes.

“We [Anoka-Ramsey] are proud to be able to deliver results-oriented learning programs that equip employees in our community with new skills and knowledge to achieve lasting career success,” says Steve Jones, Director of Training at Anoka-Ramsey and grant coordinator. “Further, the training classes developed through these grants will then available for other businesses and employees in the region.”

Over the past two years, as the result of a previous MJSP grant for $45,000 and a customized training contract as Mulitcourse merged their Blaine and Fridley divisions into one new location in Ramsey, Anoka-Ramsey and MultiSource have developed a strong relationship. During this time, Mike Schuffenhauer, President of MultiSource, was selected as the 2011 Manufacturing Executive of the Year by the Minnesota Precision Machining Association, and MultiSource was nominated for 2011 Manufacturing Company of the Year. This new MJSP grant will allow the successful partnership between the college and the company to continue and to grow.                                                                     

October 31, 2011

Mike Schuffenhauer, President of MultiSource Manufacturing LLC, is Elected 2011 Manufacturing Executive of the Year

Please join MultiSource Manufacturing LLC in congratulating President Mike Schuffenhauer on his selection as 2011 Manufacturing Executive of the Year by the Minnesota Precision Machining Association, in conjunction with Minnesota Business magazine.  MultiSource Manufacturing also was nominated for Manufacturing Company of the Year.

Schuffenhauer’s career with MultiSource Manufacturing began in 2004 as general manager of the Tru Machine division. After several years serving as general manager, Schuffenhauer became chief operating officer of the company and then was promoted to president in January 2011. Under his leadership, MultiSource Manufacturing has grown its sales volume significantly.  The company is now comprised of five locations (including Boulder, CO), and employs over 230 team members.  Schuffenhauer has one overriding philosophy when it comes to business:  adapt.  “Change is inevitable.  The goal is to have an idea that is awfully good, not perfect.  If you wait for perfection, you spend a lot of time hanging in limbo instead of adapting and moving forward.”  Schuffenhauer’s focus on change, meeting customer needs, and employee excellence has helped drive MultiSource Manufacturing to continued success.

To maintain our innovative edge, MultiSource Manufacturing relies on the support of our customers and the efforts of our employees, suppliers and other business partners.  We are extremely appreciative when our business partners nominate our company and our people for special recognition within the precision machining industry and beyond.  Thank you for your ongoing confidence in MultiSource Manufacturing. 

September 15, 2011

Open House at New Ramsey Facility

Ribbon Cutting Ceremony at Ramsey Facility

On September 15th, we had a ribbon cutting ceremony and "open house" to show case our newest 41,000 square foot facility in Ramsey, MN. Approximately 150 customers, suppliers, and business associates enjoyed a tour of the facility, meeting the employees, and some great BBQ. Thank you to everyone for making this such a special event!

June 20, 2011

Relocation of Tru Machine and MultiSource Aerospace to New Facility in Ramsey, MN

We are excited to announce that, effective today, we have fully relocated our Tru Machine and MultiSource Aerospace divisions to our new facility in Ramsey, MN. This location will now be known simply as MultiSource Manufacturing LLC, with the Ramsey address. The building is less than fifteen miles from both the previous Tru Machine and MultiSource Aerospace locations.

This relocation, which was originally announced in January 2011, is the result of a lot of hard work for all of us, and we appreciate the support shown throughout the process by all of our business partners. Our building contains over 41,000 square feet of newly-configured and finished office and shop space and is home to over 80 of MultiSources finest people, as well as 60 machine tools. The facility, equipment (we've purchased over $1 million of new equipment just for this relocation) and people have allowed us to significantly increase our current and potential capacity.

Our new address and contact information is:

6690 Sunwood Drive NW
Ramsey, MN 55303
Phone: 763-582-1000
Fax: 763-582-1100

Download this Story 967 kb pdf

October 10, 2010

MultiSource Profile published in Precision Manufacturing Journal of the Minnesota Precision Manufacturing Association.

MultiSource Manufacturing LLC is a customer-focused contract shop that specializes in a broad range of manufacturing capabilities, from engineering to complex machining to plastic fabrication to assembly. To customers, it's a one-stop shop for all outsourcing needs.

MultiSource was founded in 1998 with the vision of acquiring, improving and growing successful machine shops—job shops with some of the best talent and equipment in the industry. Over time, MultiSource has expanded into equipment build and has acquired its own product line of automation equipment for the food industry. MultiSource has grown to seven operating divisions and more than 200 employees.

Each division is independent, yet connected, so it can offer the personal service of a small company and the breadth of production capabilities of a large company. All operating divisions adhere to the same world-class quality system, and use the same MRP system, to allow for ease in moving work from division to division as schedules and/or capability requirements demand.

With multiple facilities and multiple capabilities, MultiSource is able to deliver exactly what customers need, serving as a single-source supplier for all manufacturing requirements, catering to a wide array of industries. For customers, it's like having seven unique and capable suppliers under one umbrella, but as only one entity on their approved supplier list.

Gary Hadley , CEO, 952-882-6211
Mike Schuffenhauer , President, 952-882-6211

Download Press Release 31 kb pdf

July 7, 2010

MultiSource Manufacturing LLC Completes 11th Acquisition since Inception in 1998

MultiSource Manufacturing LLC announces the acquisition of Peterson Machine & Manufacturing, located in Lakeville, MN.  Peterson’s operations will be consolidated into MultiSource Manufacturing’s Douglas division in Burnsville, MN, on or before September 30, 2010. Both Rob and Bob Peterson will continue working with MultiSource, as will all of their skilled machinists. “Peterson Machine provides milling and turning expertise to its customers, with a focus on milling.  Our Douglas division’s machine shop provides similar services with more of a focus on turning.  The two operations are a natural fit.” said Mike Schuffenhauer, COO of MultiSource.

“The growth potential of Peterson’s customer base and strong management culture make it a natural fit for our growth strategy. We look forward to working with the Peterson management team to help take them to the next level and to provide our newly-combined customer base with additional capabilities.”

For further information, please contact:

Gary Hadley, CEO, 952-882-6211
Mike Schuffenhauer, President, 952-882-6211

Download Press Release 31 kb pdf