Toilet seat maker seeks buyer

By Catherine Kavanaugh
Staff Reporter

Published: March 10, 2014 8:54 pm ET
Updated: March 10, 2014 8:57 pm ET

Related to this story

Topics Mergers & Acquisitions, Injection Molding, Plumbing

Sanderson Plumbing Products, Inc. is planning to unload its toilet seat business after more than 120 years.

The Columbus, Miss.-based company has retained Heritage Equity Partners to assist with the sale of the business or its assets, which includes two manufacturing facilities, injection molding equipment, and a variety of design and utility patents on plumbing implements, connectors and brackets.

The business manufactures toilet seating products for residential, commercial, airline and space shuttle bathrooms.

Founded in 1883 in Chicago as Findeisen-Kropf, Henry Beneke, Sr., bought the business in 1923. He developed a process of mixing sawdust from discarded wood with a resin and molding the wood flour into toilet seats, which are trademarked under the name of Tuffy.

Sanderson still sells the Tuffy brand under the Beneke logo for plumbing wholesalers and the Magnolia line for retailers as well as vinyl bathroom seats.

Sanderson Plumbing was acquired by Beneke Magnolia, Inc. in March 2012 with a loan through the Mississippi Development Authority (MDA) and other incentives totaling about $2.5 million as part of the state’s job retention program.

MDA promoted the loan as a way of working with a company that was planning to close it manufacturing facility and lay off the plant’s 400 workers.

However, Sanderson officials filed for Chapter 11 bankruptcy in federal court in October with more than $2.8 million in unsecured claims to creditors, according to the Columbus Commercial Dispatch.

Sanderson now employs about 250 people, mostly at a 360,000-square foot facility on 30 acres in Columbus, where the main wood-flour line can make 12,000 toilet seats in an eight-hour day and the injection molding equipment can make 6,000 seats in 24 hours.

The other company-owned, wood-flour production facility consists of a 25,000-square foot building in Butler, Ala. This plant closed in May 2011 after 13 years of operation, resulting in 50 layoffs. The mayor at the time cited a drop in demand from home builders.

In addition to all building, machinery and equipment assets, Sanderson has several U.S.-based and international patents on plumbing implements.

“This is an excellent opportunity to acquire an established manufacturing company with a deep history and/or its substantial manufacturing capacity,” Fred Cross, a managing director with the investment banking firm, said in a news release.

Cross also said Sanderson has a “strong, cost-efficient work force in place” and excess injection molding and wood-flour molding equipment for making new products.

Heritage Equity Partners, formerly called Equity Partners, is based in Easton, Md., and has completed more than 400 U.S. deals since 1988.


Comments

Toilet seat maker seeks buyer

By Catherine Kavanaugh
Staff Reporter

Published: March 10, 2014 8:54 pm ET
Updated: March 10, 2014 8:57 pm ET

Post Your Comments


Back to story


More stories

Image

German molder picks North Carolina for US manufacturing plant

February 26, 2015 4:21 pm ET

UPDATED — German medical goods company Raumedic AG has chosen Mills River, N.C., for its first U.S. manufacturing site and U.S. headquarters.    More

Image

Plastic Omnium makes China investment push

February 26, 2015 4:35 pm ET

Three of the six new plants that automotive molder Plastic Omnium SA plans this year will be in China, part of a broader push it’s making in...    More

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

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