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

Optical disc molder OEM getting into micromolding with acquisition of CDA

August 29, 2014 11:24 am ET

Optical disc replicator and molder Optical Experts Manufacturing Inc. of Charlotte, N.C., has expanded its core business and entered new high...    More

Image

Baxter investing $300 million to expand dialyzers production in Alabama

August 29, 2014 12:53 pm ET

Baxter International, Inc. is expanding its Opelika, Ala. manufacturing location to boost production of dialyzers, a key component of hemodialysis...    More

Image

Obituary: Jerry Williams, Prism Plastics co-owner

August 29, 2014 8:50 am ET

Williams founded Prism Plastics with Rod Bricker and Gerry Phillips, after the three left Huron Plastics Group in 1999.    More

Image

Tighter resin prices leading to price hike for PE film

August 29, 2014 11:13 am ET

One of North America's largest film makers is pushing through a polyethylene price increase due, in part, to the tight resin market.    More

Polish injection molder Teknorubber up for sale

August 29, 2014 9:14 am ET

Polish plastic parts maker Teknorubber has been put up for sale following its insolvency filing in March 2014. The company is to be auctioned through ...    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