Fort Wayne Plastics' parent company acquired

By Frank Antosiewicz
Correspondent

Published: February 14, 2014 1:12 pm ET
Updated: February 14, 2014 7:12 pm ET

Related to this story

Topics Mergers & Acquisitions, Structural foam

Structural foam and web producer Fort Wayne Plastics Inc.'s parent company has tentatively been acquired by a subsidiary of cleaning products manufacturer and distributor Katy Industries Inc. of Bridgeton, Mo.

According to a Jan. 30 SEC filing, Continental Commercial Products LLC, a subsidiary of Katy Industries Inc., has entered into an agreement to purchase all of the capital stock of FTW Holdings Inc., the parent of Fort Wayne Plastics Inc., for $11.5 million, subject to pre-closing and post-closing purchase price adjustments based on working capital levels.

The acquisition is scheduled to close on Feb. 25. The filing also noted that the sellers or buyers may terminate the purchase agreement at any time at their respective discretion prior to closing.

Fort Wayne Plastics specializes in low-pressure, multi-nozzle multi-cavity structural foam and structural web molding using gas assist. The company, according to its website, was started in the 1970s and operates out of a 170,000 square foot facility in Fort Wayne.

Continental Commercial Products, like its parent, Katy, is in Bridgeton. It makes floor care, janitorial and food service cleaning products.

Officials at Katy Industries and Fort Wayne did not return calls for comment.

Katy is publicly traded on the Over-The-Counter Bulletin Board.

P&M Corporate Finance served as financial adviser to Fort Wayne Plastics.


Comments

Fort Wayne Plastics' parent company acquired

By Frank Antosiewicz
Correspondent

Published: February 14, 2014 1:12 pm ET
Updated: February 14, 2014 7:12 pm ET

Post Your Comments


Back to story


More stories

Image

Ferro acquires TherMark Holdings for $5.5 million

February 26, 2015 12:15 pm ET

Ferro Corp. said it acquired privately held TherMark Holdings Inc., a laser marking technology company, for $5.5 million in cash.    More

Image

Serbia puts Krušik-Plastika up for sale

February 26, 2015 11:39 am ET

The Serbian Privatization Agency has launched the privatization process for local plastics maker Krušik-Plastika. The agency says it is...    More

Image

3i to sell specialty chemicals company Azelis to Apax Partners

February 26, 2015 11:36 am ET

Azelis Holding SA, the specialty chemicals distributor, is being sold by its private equity owners 3i Group plc to another private investment outfit, ...    More

Image

Amut buys Dolci and Bielloni

February 25, 2015 3:41 pm ET

Amut SpA, the Novara, Italy-based maker of extruders, thermoforming machines and plastics recycling equipment, has acquired the Italian company that...    More

Image

Tekni-Plex buying Galazzi pharmaceutical film and tape units

February 25, 2015 3:13 pm ET

Italy's Tekni-Plex Europe NV, a subsidiary of U.S.-based Tekni-Plex Inc., has announced that its plan to acquire Gallazzi SpA's Italian-based pharmace...    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