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

Sealed Air's move to Charlotte will put it all under 'One Roof'

July 25, 2014 2:03 pm ET

Sealed Air Corp. shook the ground last week by announcing plans to relocate its headquarters from Elmwood Park, N.J., to Charlotte, N.C., in a move...    More

Image

Columbine Plastics moving to new Colorado site

July 25, 2014 11:38 am ET

Custom injection molder Columbine Plastics Corp. plans to move from Boulder, Colo., to the Colorado Technical Center in Louisville, Colo.    More

Image

Metals and plastics company NN to buy Autocam in $300 million deal

July 25, 2014 10:07 am ET

A Tennessee metals and plastics company said it has agreed to acquire auto parts supplier Autocam Corp. in a deal valued at $300 million.    More

Image

Chinese auto suppliers growing in US

July 24, 2014 4:17 pm ET

Two China-based automotive suppliers are expanding in the U.S., according to information released by the Michigan Economic Development Corp.    More

Image

Bemis' product strategy paying off with record earnings per share

July 24, 2014 2:56 pm ET

Bemis Co. Inc. is feeling good about itself these days as the flexible packaging and pressure sensitive materials firm is posting record earnings per ...    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

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

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

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

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

More Events