Mold-Rite Plastics buys Stull Technologies

Published: November 19, 2012 6:00 am ET

Related to this story

Topics Packaging, Mergers & Acquisitions, 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

German molder picks North Carolina for US manufacturing plant

February 26, 2015 4:21 pm ET

UPDATED — German medical goods company Raumedic AG has chosen Mills River, N.C., for its first U.S. manufacturing site and U.S. headquarters.    More

Image

Plastic Omnium makes China investment push

February 26, 2015 4:35 pm ET

Three of the six new plants that automotive molder Plastic Omnium SA plans this year will be in China, part of a broader push it’s making in...    More

Image

Ferro acquires TherMark Holdings for $5.5 million

February 26, 2015 12:15 pm ET

Ferro Corp. said it acquired privately held TherMark Holdings Inc., a laser marking technology company, for $5.5 million in cash.    More

Image

Serbia puts Krušik-Plastika up for sale

February 26, 2015 11:39 am ET

The Serbian Privatization Agency has launched the privatization process for local plastics maker Krušik-Plastika. The agency says it is...    More

Image

3i to sell specialty chemicals company Azelis to Apax Partners

February 26, 2015 11:36 am ET

Azelis Holding SA, the specialty chemicals distributor, is being sold by its private equity owners 3i Group plc to another private investment outfit, ...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

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

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

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

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

More Events