Materials maker Techmer PM has purchased compounder TP Composites Inc. of Aston, Pa.
No purchase price was disclosed in a July 1 news release from Clinton, Tenn.-based Techmer. In the release, Techmer Chairman and CEO John Manuck said that TP "is a great fit for our engineering compounds business."
Techmer will operate TP as part of its Techmer Engineered Solutions unit. Manuck added that TP "brings an array of complementary product and talented personnel to our existing TES group."
All TP personnel are expected to remain with Techmer and continue to work out of the Aston location. In the release, TP President Ron Taylor said that "the alignment between the two companies' core philosophies will enable TP team members to integrate quickly and seamlessly."
TP operates almost 40,000 square feet of production, warehousing and office space in Aston. The firm invested $1.3 million in improvements in 2011, including the installation of two new extrusion lines.
TP — which employs about 50 — was founded in 1994 and makes filled, impact-modified and colored compounds based on a wide variety of thermoplastics. Its compounds are sold into military applications, business machines, transportation and other markets.
For Techmer, the deal is its first major move since buying out Lehmann & Voss & Co. KG's 40 percent stake in the Techmer Lehvoss Compounds LLC joint venture late last year. That business now operates as TES.
Techmer officials previously said sales for 2013 are expected to top $200 million. The firm employs more than 500 at six U.S. manufacturing sites, producing a wide variety of compounds and color and additive concentrates.
Techmer ranks as one of North America's 30 largest compounders and concentrate makers, according to a Plastics News estimate.