Mold-Rite purchases Weatherchem

Published: November 29, 2012 6:00 am ET

Related to this story

Topics Packaging, Injection Molding

PLATTSBURGH, N.Y. (Nov. 29, 5:30 p.m. ET) — Mold-Rite Plastics LLC has acquired dispensing closures manufacturer Weatherchem Corp.

The purchase is Mold-Rite’s second acquisition in as many weeks — the company announced its purchase of Stull Technologies Inc. of Somerset, N.J., also a manufacturer of caps and closures, Nov. 19.

Weatherchem, based in Twinsburg, Ohio, makes dispensing closures for the food and beverage, cosmetics, personal-care, pet-care, health-care and chemicals markets. It had sales of $55 million in 2011, according to the most recent Plastics News survey of North American injection molders.

Mold-Rite will retain the Weatherchem name and brand.

“It’s a great partnership for all of us,” said Aimee Weber, marketing and communications manager at Weatherchem.

Weatherchem, Stull and Mold-Rite have complimentary product portfolios and similar company cultures; “pulling all three together is going to be really seamless,” she said.

The acquisition gives Weatherchem an opportunity to continue to grow the business and expand its product portfolio, along with giving it access to new technologies, like in-house molding, and new locations, she said.

The family-owned company had grown steadily over the last few years and was looking for a way to expand the business. Mold-Rite just seemed like a natural fit, she said.

She added that the deal was a logical next step professionally.

Albert J. Weatherhead III founded Weatherchem in 1971. He passed away last year.

Any changes at the company will be gradual. There are currently no plans for staff changes and management is planning on staying on board, Weber said.

Both the Stull and Weatherchem purchases are part of Mold-Rite’s larger expansion plan, which includes both organic growth and acquisitions and “builds upon the company’s standards of providing customers with reliability,” Mold-Rite said in a news release.

Mold-Rite was not available for comment at press time.

P&M Corporate Finance LLC of Southfield, Mich., served as financial adviser to both Weatherchem and Stull.

Mold-Rite, based in Plattsburgh, N.Y., manufactures rigid plastic packaging, including caps and closures, jars and specialty items, for a variety of markets.

The company had sales of $73 million in 2011, up from $67 million the year prior, according to the Plastics News survey. It has been owned by private equity firm Irving Place Capital, with offices in New York, since 2010.


Comments

Mold-Rite purchases Weatherchem

Published: November 29, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Berry's rebranded Blue Clover expands packaging design reach

January 23, 2015 1:59 pm ET

As design director of Berry Plastics Corp.'s rebranded packaging design studio, Scott Fisher believes the new name of Blue Clover Studios cuts the...    More

Image

Esterform buys Constar UK, doubles PET preform capacity

January 23, 2015 10:07 am ET

Constar UK, once part of global packaging firm Constar International Holdings LLC, has a new owner.    More

Image

Delia to take over as CEO at Amcor

January 22, 2015 10:27 am ET

There will be a leadership change at the helm of Australian packaging company Amcor Ltd. starting in July.    More

Image

Hyundai Mobis investing $24 million to expand in Slovakia

January 22, 2015 9:28 am ET

South Korean auto parts maker Hyundai Mobis has unveiled plans to invest about 21 million euros ($24.1 million) to modernize and expand the output...    More

Image

Pyramid investing in new presses as it targets sales in medical, technical molding

January 21, 2015 1:40 pm ET

Custom molder Pyramid Plastics Inc. is investing to boost its stake in medical and technical molding.    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