Minnesota private equity firm Tonka Bay Equity Partners has acquired Seaway Plastics Engineering Inc. for an undisclosed amount.

Port Richey, Florida-based Seaway makes injection-molded components. Tonka Bay made a majority investment in Seaway, and the company's management team will stay in place, according to Michael Rockhold, a manager with Douglas Group, which acted as Seaway's financial adviser on the deal.

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