Private equity firm buys plastic liner specialist

By Michael Lauzon
Correspondent

Published: December 10, 2013 3:36 pm ET
Updated: December 10, 2013 3:37 pm ET

Related to this story

Topics Construction

A private equity firm specializing in energy-focused companies has bought into Extreme Plastics Plus Inc., a company that uses plastics films and other technologies to protect petroleum well sites from soil contamination.

Hastings Equity Partners LLC said Dec. 10 that the investment is the first in its third fund series. It did not disclose terms of the deal.

Extreme Plastics buys high density polyethylene and linear low density PE films to create environmental liners. Its headquarters is in Fairmont, W.Va. Hastings stated in a news release that Extreme Plastics is gaining from more stringent leak prevention regulations enacted in the Marcellus and Utica petroleum shale formations in the United States.

Last year, Extreme Plastics installed its 25 millionth square foot of environmental liners since it was established in 2007.

“We are excited about our partnership with the Hastings team and are already benefiting from their operating experience and oilfield network,” stated Extreme Plastics founder and CEO Bennie Wharry in a news release.

Hastings is based in Needham, Mass., and runs an office in Houston. The firm’s managing director Ted Patton said Hastings will work with Extreme Plastics to make sure customers are in compliance with state and federal regulations.


Comments

Private equity firm buys plastic liner specialist

By Michael Lauzon
Correspondent

Published: December 10, 2013 3:36 pm ET
Updated: December 10, 2013 3:37 pm ET

Post Your Comments


Back to story


More stories

Image

Ukraine crisis prompts factory move to Russia

September 9, 2014 1:38 pm ET

The crisis in the Ukraine has prompted Polish PVC window maker Fakro Co. to consider shifting production from some of its plants in the country to...    More

Market Reports

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

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

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events