Mold-Rite Plastics buys Stull Technologies

Published: November 19, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Packaging, Injection Molding

PLATTSBURGH, N.Y. (Nov. 19, 5:35 p.m. ET) — Mold-Rite Plastics, an injection molder of rigid packaging products, has acquired caps and closures manufacturer Stull Technologies.

The acquisition will broaden Mold-Rite’s product offerings, geographic reach and manufacturing capabilities, according to a Nov. 19 news release.

Terms were not disclosed.

Based in Somerset, N.J., Stull makes dispensing closures, caps, lids and packaging components. Mold-Rite will retain the Stull name to “leverage the substantial brand equity that the company has built over decades of service to the market,” according to the release.

“Joining forces with Mold-Rite Plastics will further improve the high quality of products, services, and overall value that Stull brings to its customers,” said Jason Stull, executive vice president of sales and marketing for Stull, in the release.

P&M Corporate Finance served as financial advisor to Stull Technologies

Stull has 120 employees and sales of $28 million in 2011, according to the most recent Plastics News survey of North American injection molders.

The acquisition is part of Mold-Rite’s larger expansion plan, which includes both organic growth and acquisition, according to the release.

Mold-Rite, based in Plattsburgh, N.Y., manufactures jars, caps and specialty closures for a variety of markets. The company has about 400 employees at its 400,000 square foot facility. It had sales of $73 million in 2011, up from $67 million the year prior, according to the Plastics News survey.

Private equity firm Irving Place Capital, with office in New York, has owned Mold-Rite since 2010.


Comments

Mold-Rite Plastics buys Stull Technologies

Published: November 19, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Major packaging merger includes plastics operations

January 26, 2015 12:24 pm ET

A merger of packaging companies MeadWestvaco Corp. and Rock-Tenn Inc. will create a new company with nearly $16 billion in annual sales.    More

Image

MonoSol optimistic it can reach new markets with water soluble films

January 26, 2015 4:46 pm ET

MonoSol LLC — riding a wave of growth spurred on by the rapid adoption of water soluble detergent packets in recent years — is looking to ...    More

Image

Viking Plastics honored for employee relations

January 26, 2015 12:43 pm ET

Custom injection molder Viking Plastics has won DevelopErie’s 2014 Employer of the Year Award for manufacturing in the Erie, Pa., region.    More

Image

Continental builds low-emission interior trim factory in China

January 26, 2015 12:33 pm ET

Benecke-Kaliko AG is making the largest investment in its history to build an environmentally friendly auto interior trim plant in China, prompted by ...    More

Image

J6 Polymers to buy Stepan unit

January 26, 2015 12:22 pm ET

NORTHFIELD, ILL. — Stepan Co. plans to sell its specialty polyurethanes systems business to J6 Polymers LLC in a cash deal.    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events