Kentucky injection molder Blue Star Plastics gains new owners

By Frank Antosiewicz
Correspondent

Published: March 1, 2013 2:58 pm ET
Updated: March 1, 2013 3:00 pm ET

Related to this story

Topics Mergers & Acquisitions, Injection Molding

LEXINGTON, KY. -- Injection molder Blue Star Plastics Inc. recently got new owners after it was purchased by a company owned by Ahmad Hamza and his son Mohammed Hamza, according to investment banker Corporate Finance Associates.

The new owner is Seventh District Holdings LLC, a subsidiary of Seventh District Capital, which is owned and led by the Hamzas. It has business connections in Europe and the Middle East. Details of the transaction were not disclosed and further information on Seventh District was not released. The deal closed Dec. 31.

Lexington, Ky.-based Blue Star Plastics was founded in 1984 by Roger Storch and Don Keim, both former Texas Instruments executives. It specializes in custom injection molding and contract manufacturing. The company has 50 employees.

"It's a great company. They're great people. It was just time to sell," said Storch in a telephone interview.

Storch said he and Keim will stay on in an advisory capacity and provide training.

Mohammed Hamza is moving to Lexington to assume leadership of the company.

"Lexington, Ky., is an ideal location for our first venture in the U.S. and one from which we can grow," Ahmad Hamza said in a statement.

The Hamzas said their investment is a long-term one and they plan to grow the business.

The company grew 25 percent last year, Storch said, and should exceed that this year.

The timing was right for a change, he added. The new leadership will be able to provide added capital for new machinery, including more automation to help the company continue to grow.

Corporate Finance Associates of Lexington was the exclusive adviser to Blue Star during the sale.


Comments

Kentucky injection molder Blue Star Plastics gains new owners

By Frank Antosiewicz
Correspondent

Published: March 1, 2013 2:58 pm ET
Updated: March 1, 2013 3:00 pm ET

Post Your Comments


Back to story


More stories

Unipex Group buys Ferguson Chemical Innovation

July 29, 2014 1:57 pm ET

Chemical distributor Unipex Group Inc. announced July 29 that it had purchased Ferguson Chemical Innovation, a Brampton, Ontario-based supplier of...    More

Image

Universal Polymer beefing up capabilities through acquisition

July 29, 2014 12:04 pm ET

Universal Polymer & Rubber Ltd. is growing again and adding to its capabilities, this time via another acquisition and a plant expansion.    More

Image

Reynolds considering sale of Closure Systems International unit

July 29, 2014 10:32 am ET

Packaging giant Reynolds Group Holdings Ltd. has put its closures business under review.    More

Image

Carbon black supplier Orion begins trading on NYSE

July 29, 2014 11:29 am ET

Orion Engineered Carbons S.a.r.l. has priced the initial public offering of 19.5 million common shares at a price to the public of $18 per share.    More

Image

Evonik sells polyimide foams operation to Boyd

July 29, 2014 10:46 am ET

Modesto, Calif.-based Boyd Corp., a manufacturers of specialty material and sealing agents, has purchased Evonik Industries’ Solimid...    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