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

Report predicts growth for flexible packaging

August 21, 2014 12:34 pm ET

Flexible packaging in the United States grew last year and is expected to continue to grow this year, according to a new report by the Flexible...    More

Image

German injection molders Metz-Werke and Inotech to collaborate

August 21, 2014 11:47 am ET

German injection molding companies Metz-Werke GmbH & Co. KG and Inotech Kunststofftechnik GmbH have announced that they have joined forces to bring...    More

Image

Enor expanding in S.C., moving toy production to U.S. from China

August 20, 2014 4:01 pm ET

Wal-Mart Stores Inc. has convinced toy producer Enor Corp. to expand U.S. production at the expense of sourcing from China.    More

Image

Venture Plastics adds 720-ton press

August 20, 2014 2:03 pm ET

Venture Plastics Inc. expanded its El Paso, Texas, custom molding facility in early summer to grow sales.    More

Image

Ohio molder sold to private equity firm

August 19, 2014 5:23 pm ET

Private equity firm TVV Capital of Nashville has acquired injection molder Design Molded Plastics Inc. for an undisclosed price.    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