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

Inteplast expands in corrugated sheet with Coroplast deal

August 21, 2014 5:28 pm ET

Packaging major Inteplast Group has acquired its main competitor in corrugated plastic sheet, Coroplast Inc. Inteplast gets corrugated sheet plants...    More

Image

NanoHolding, Applied Nanotech merge to form PEN Inc.

August 21, 2014 4:44 pm ET

Nanotechnology firms NanoHolding Inc. and Applied Nanotech Holdings Inc. are merging to create PEN Inc., a publicly held firm whose product mix will...    More

Image

German injection molders Metz-Werke and Inotech to collaborate

August 21, 2014 11:47 am ET

German injection molding companies Metz-Werke GmbH & Co. KG and Inotech Kunststofftechnik GmbH have announced that they have joined forces to bring...    More

Image

German firms combine hybrid part expertise

August 21, 2014 11:18 am ET

L. Possehl & Co.'s acquisition of TPS Technical Plastic Systems GmbH will bring together companies which specialize in the manufacture of hybrid...    More

Image

Enor expanding in S.C., moving toy production to U.S. from China

August 20, 2014 4:01 pm ET

Wal-Mart Stores Inc. has convinced toy producer Enor Corp. to expand U.S. production at the expense of sourcing from China.    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

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

January 14, 2015 - January 14, 2015Plastics in Automotive

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

More Events