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Private equity firm Odyssey Investment Partners buys Pexco

By: Frank Esposito

August 15, 2012

ATLANTA (Aug. 15, 11:50 a.m. ET) — The purchaser has become the purchased, as custom extruder Pexco LLC has been sold to private equity firm Odyssey Investment Partners LLC for an undisclosed price.

Private equity firm Saw Mill Capital LLC of Briarcliff Manor, N.Y., had owned Atlanta-based Pexco. During 2011, Pexco grew by acquiring four other firms: Patrician Products Inc., Multitube Medical Devices SA de CV, AllWest Plastics Inc. and RDC Cytex Inc. All four of the firms were custom extruders, with AllWest and RDC Cytex specializing in profiles.

Pexco sells its custom extrusions into industrial, commercial and medical markets. The firm has annual sales of $200 million, ranking 16th in Plastics News’ most recent ranking of North American pipe, profile and tubing extruders. Pexco operates 10 production plants throughout North America.

In an Aug. 15 news release, Odyssey managing principal Craig Staub described Pexco as “an extremely well-positioned company within the custom segment of the extrusion sector.” He added that Pexco “operates in attractive end markets.”

Pexco management - including CEO Neil Shillingford - will remain with the firm after the sale to Odyssey.

“Our customers have come to depend on Pexco as a one-stop supplier of their customized plastic components,” Shillingford said in the release. “I am confident that with Odyssey’s support we will expand on these capabilities.”

Odyssey is a middle-market private equity firm with about $2.5 billion under management. The firm also has offices in Woodland Hills, Calif.