Illinois Valley Plastics buys Pro Plas

By Frank Esposito
Senior Staff Reporter

Published: October 10, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Injection Molding

WASHINGTON, ILL. (Updated Oct. 11, 2:30 p.m. ET) — In a deal involving two custom injection molders, Illinois Valley Plastics has acquired Pro Plas Inc. for an undisclosed price.

“Both companies complement each other very well, both strategically and culturally,” IVP President Daryl Lindemann said in an Oct. 9 news release. “This acquisition aligns with our long-term strategy of customer, market and geographic diversification within the plastics industry.”

Pro Plas operates a dozen injection presses at a 30,000-square-foot plant in St. Louis, where it employs 34 full-time workers and 20 part-time employees. The firm’s presses range in size from 55-500 tons of clamping force.

Pro Plas also offers sonic welding, heat staking and solvent welding assembly, as well as sub-assembly and packaging. The firm said it has complete tooling, design, and model-making sources for new product development, as well as an in-house tool shop. Its major customers are in the commercial refrigeration, commercial drink dispensing, and medical/pharmaceutical sectors.

Washington, Ill.-based IVP is buying Pro Plas from company founder John Murphy, who will remain with the firm in a consulting role. Pro Plas has annual sales of about $5 million, about half of IVP’s annual sales total, which was almost $10 million in 2011.

In an Oct. 11 phone interview, Lindemann said that both IVP and Pro Plas will continue to make their own products at their own locations.

The deal is IVP’s first acquisition since Lindemann became the firm’s majority owner in mid-2010. He said IVP has no definite plans for more acquisitions, but he added that “if the right opportunity comes along, we’d look at and consider it.”

Sales at IVP are on track to grow 5-10 percent this year, Lindemann said, as the firm’s current customers continue to recover from the recession.

IVP serves major customers in the automotive, agricultural, and heavy equipment industries. Parts molded by IVP include control handles, levers and instrument panels for earthmoving and construction equipment; and nylon reducer bushings for natural gas lines and boilers.

Pro Plas was represented in the deal by Generational Equity, a mergers and acquisitions consulting firm based in Dallas.


Comments

Illinois Valley Plastics buys Pro Plas

By Frank Esposito
Senior Staff Reporter

Published: October 10, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Newell Rubbermaid to acquire Contigo brand

July 21, 2014 5:00 pm ET

Consumer products company Newell Rubbermaid Inc. has signed an agreement to acquire Ignite Holdings LLC, owner of the Contigo and Avex brands of...    More

Image

Illinois injection molder expands

July 21, 2014 1:23 pm ET

Automotive supplier All-Rite Industries Inc. has added two new injection molding machines to its operations.    More

Image

Huhtamäki to evaluate its films business

July 21, 2014 9:52 am ET

Finland-based plastics packaging group, Huhtamäki Oyj, has announced that it is evaluating its options regarding its films business, due to its...    More

Image

Thermoforming Technology Group adds Lyle Industries to its portfolio

July 18, 2014 2:48 pm ET

Thermoforming Technology Group LLC has expanded its thermoforming equipment presence with the acquisition of Lyle Industries Inc.    More

Image

Infiltrator goes very large scale for injection press

July 18, 2014 1:45 pm ET

Infiltrator Systems Inc. has designed and built a mammoth injection press, with 6,000 tons of clamping force, to mold septic tank halves measuring 15 ...    More

Market Reports

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events