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
Companies & Associations

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

Uponor sells plastic pipe machinery business to focus on core units

March 30, 2015 2:13 pm ET

Uponor Corp., the Finland-based maker of plastic pipe systems for plumbing, underfloor heating and cooling and infrastructure, announced March 30...    More

Image

Dow Chemical to merge chlorine operations with Olin

March 27, 2015 12:43 pm ET

Dow Chemical Co. is combining a large part of its chlorine value chain with specialty chemicals and ammunition maker Olin Corp. to create a global...    More

Image

Flextronics launches global injection molding, tooling unit

March 26, 2015 4:29 pm ET

Flextronics International Ltd. (Booth S34125) is officially launching Precision Plastics, a global injection tooling and manufacturing unit, as a...    More

Image

Core Molding buys CPI Binani assets, adds markets, D-LFT capabilities

March 20, 2015 1:20 pm ET

Core Molding Technologies Inc. is expanding its thermoplastics capabilities with the acquisition of substantially all the assets of CPI Binani Inc.,...    More

Image

Proposed Cardia-Stellar merger labeled 'not fair,' but still 'reasonable'

March 20, 2015 10:34 am ET

If the proposed merger of two Australian bioplastics companies goes ahead, the new company will be called Secos Group Ltd. and have annual sales of ab...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

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

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events