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

Image

Coveris makes another flexible packaging buy

August 22, 2014 9:34 am ET

Coveris Holdings is continuing its rapid acquisition pace, this time picking up flexible print specialist Learoyd Packaging (Holdings) Ltd. to boost...    More

Image

Making the most of complexity

August 22, 2014 1:02 pm ET

In the global market for injection molded parts, custom molders have tried a million different ways to differentiate themselves from the pack. Make...    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

Inteplast expands in corrugated sheet with Coroplast deal

August 21, 2014 5:28 pm ET

Packaging major Inteplast Group has acquired its main competitor in corrugated plastic sheet, Coroplast Inc. Inteplast gets corrugated sheet plants...    More

Image

NanoHolding, Applied Nanotech merge to form PEN Inc.

August 21, 2014 4:44 pm ET

Nanotechnology firms NanoHolding Inc. and Applied Nanotech Holdings Inc. are merging to create PEN Inc., a publicly held firm whose product mix will i...    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